About the nation
Singapore, officially known as the Republic of Singapore is one of the brightest examples of a development model within a short period of time. It is a global hub for trade, commerce, finance and transport and holds the titles like world’s smartest city, most technology-ready nation, best investment potential, third largest foreign exchange market, third largest financial centre, the safest nation of the world and many more of such titles. With its efficient work environment, sustainable business models, political stability, best of education and health care, good standard of living and a highly vibrant life in the city; Singapore is indeed a destination attracting more and more foreigners on an annual basis from all over the world.
With an amazing track of economic growth and the new initiatives getting successful within a short time, Singapore is a nation to have a healthy and sustainable growth giving a tough competition to the likes of USA, UK, China and Russia.
A potent option for property investment
Singapore is considered to be one of the most viable options for property and investment markets in the world. It offers huge sum of capital gains and potentials within a short phase of time. The political stability and environment of the nation aid in making Singapore a good investment asset. Even the leading global investors seek for a stake or branch in Singapore to mitigate their risk management within the Asian market.
For the high wealth earning markets of Asia like India and China, Singapore is the first choice when it comes to property investment in a foreign land and all they try for is tapping and making use of all of the available wealth opportunities provided by the nation. With the transformation of Singapore into a global city accelerating at a faster pace, Singapore property for sale to foreigners or in short its real estate empire is the best potential option for the foreigners seeking to open their ventures over here.
Following are the primary reasons for which the real estate market of Singapore is the most sought after one by a majority of the foreign investors: –
- The social and political life in Singapore are highly balanced and stabilised and hence they provide a safe and ordered environment for both businesses and qualitative life in the nation. There has hardly been any incident of political instability in the past many years of the nation.
- The clean and green environment of Singapore helps in supporting a qualitative life for the citizens and also becomes a key factor in maintaining a high standard of living for the people.
- Singapore is well connected to the majority of nations of Asia and the world by both airways as well as waterways. Its port and Changi Airport have held the titles of Best Maritime Port and Best Airport respectively for their high level infrastructure and well connectivity to all nations of the world.
- The transportation infrastructure is not only highly efficient but have the top notch standards and facilities that are the keys for the best connectivity of the nation to the entire world.
- Its immigration policy is highly flexible and helps in accommodating and welcoming a number of potent foreign investors to have their ventures in the nation.
- The high class education, in terms of infrastructure and quality ensures to produce a skilled set of experts who can adjust easily into the world of technology. This is a major reason for a number of undergrads opting for Singapore as the destination of higher studies and getting the best of the technical skill set and knowledge.
- The health care infrastructure is of top notch and favours for a qualitative life and hence also aids in the citizens of Singapore enjoying higher years of living than the average benchmark of the world.
- There is no initial taxation over the ventures of foreigners on the land of Singapore and on subsequent years the tariff is increased keeping in mind the growth of the venture and promising it to provide a sustainable and thriving environment.
- The judiciary system of Singapore ensures ultimate protection and justice to all of its citizens, including the foreigners and hence aids in providing a safe environment to everyone.
- The corporate tax levied is quite low at the rate of 17 percent per annum and allows for growth of sustainable business models.
- The banks of Singapore are considered to be the Asia’s hub with ultimate banking laws and data protection and ensuring a safe gateway to all forms of transactions made by the citizens and the corporates.
- There is no levying of estate duties for foreigners, that creates a major hole in the pockets when one opts for property in other nations of the world.
Factors for foreign investment
On financial terms, factors like clear foreign ownership laws, no currency bar, low mortgage interest rates, active property market, higher rental yield, secured property rights and a strict law system for property management help in having more of Singapore property for sale to foreigners and even them showing keen interest for real estate and other investments in the nation.
The general layout
For a majority of property dealers and real estate investors in Singapore, following is a standardised procedure to start any property related transaction in the nation and the entire protocol is governed by a strict set of rules and regulations: –
- Filling up of the authentic form of the organisation with the preferences for the property clearly stated and defined
- Contacting the management from time to time to have a transparency in the transaction and identifying the best of the solutions for the individual needs and requirements
- Getting a clear idea of the rules and laws related to property management from the agency so as to have all of the legal matters documented
- Having property visits organised by the agency to ensure the deal and clearly have no loopholes that might create problems in the future.