Singapore Investment Property Information Best Understood by a Real Estate Agent
Singapore, a place known for its cleanliness and safety, is the center of attraction. The place, being one of the most happening places in the world, attracts hordes of people from all around the world. The city brims something for everyone. As a result, many come to visit, and some plan of owning a property this astonishing place.
So, are you too planning to buy Singapore real estate? If so, here is the essential information that you need to know before investing a bagful of money.
Loan Rates Are Expected To Rise Further
Whether you are a first-time buyer or an investor, it is imperative for you to know that the home loan interest rates are increasing rapidly; they have risen from 1.65 percent to 1.95 percent annually. It is expected to see a constant rise in the home loan rates in Singapore. It is best to stay updated with the latest real estate news market trends.
Increasing Demand for Hot Property
You may already know or heard about District 19. Well, it is a hot property that covers many areas, including Punggol, Sengkang, and a few more. Though the new condominium was launched in the previous year, the prices of hot property are touching the sky – increasing at an increasing rate of around 80 percent. This unexpected upswing in the prices could be a pain in the heart for those who don’t have 6-figure sums.
New Projects Will Take Over the Market
There are nearly 60 projects in the pipeline. So, people are likely to keep an eye on these projects. Former Normanton Park and Treasure at Tampines are two significant projects that are expected to get an edge over other projects. Contacting a Singapore real estate agent is one of the surefire ways to get recent updates and good bang for your bucks.
A word of Advice: Read out the information online and know the things to look for in a real estate agent before making any decision.
En Block Contract Doesn’t seem to Happen
New measures are being taken now and then, which have a direct correlation with the en bloc sales. It has now become more challenging to finalize a contract. In addition, increasing fees and stamp duty charges are making it more complex to invest in upcoming projects. Developers are not choosing an alternative to develop smaller plots.
Fluctuations Due to Global Tension
It has been witnessed that the property market went for a rollercoaster ride due to the global trade tension. So, it would not be wrong to guess that both surely have some indirect connection. The fluctuations happen because two major reasons – doing away with expatriates, and geographical confusion. Besides, District 9 and ten contracts could see an incredible increase in the competition because of high rentals.
The picturesque beauty of Singapore draws foreigners from worldwide. It is surely one of the paramount places to call your home. Before investing in Singapore real estate, it is imperative to do some groundwork and hire a professional to get the best deal at an incredible price.