Why Buy Investment Property in Singapore
Buying investment property in Singapore is a definitely a great opportunity to earn money in a short time. Here’s why:
Development
Since gaining independence in 1965, Singapore has witnessed a dramatic rise in its standard of living. And fortunately, the Singaporean government has been proactive in bringing on an island-wide industrialization and the modern economy of this island-country is firmly balanced on manufacturing and electronics. Singapore has gained immensely from the direct foreign investments and the status of an entrepot and commercial hub for Southeast Asia which is why investing in property in Singapore is an exciting opportunity, and it’s all thanks to the island’s strategic location in the continent.
Economy
Singapore is a great example for all countries as it overcame its lack of natural resources to become not just the 18th wealthiest country in the world, but to also become one of the juggernaut economies of the Asian subcontinent. With foreign reserve of $139bn, today’s Singapore is a far cry from the old fishing village it used to be.
Singapore is also one of the Four Asian Tigers along with Hong Kong, South Korea and Taiwan. The country has also been rated as the most commercially viable economy world-wide and attracts thousands of foreign expatriates who find work in multi-national corporations, increasing the demand for real estate and experts tout this to be the right time to for investing in property in Singapore. While the Singaporean economy grew by 6.4% in 2005, it’s created a record of sorts when it grew by 7.9% in 2006!
Standard of Living
Singaporeans love to earn money and live lavishly, a fact that is reflected in the Cost of Living Survey conducted this year by Mercer HR Consulting, which ranked the country as the 5th most expensive in Asia and 14th most expensive country to live in across the world! Investing in property in Singapore is bound to reap rich rewards for you as the standard of living is high and the infrastructure is excellent, coupled with a cosmopolitan and secular approach has made Singapore a favorable destination for expats, and foreigners who enjoy the excellent quality of life, myriad tastes of Asian cultures, and a traditionally modern outlook of this beautiful island state. An enchanting blend of different cultures, traditions and religions, Singapore has a knack to charm you and embrace you in its open arms.
Climate/Environment
Singapore has a tropical rainforest type of climate with no specific seasons. The temperatures range from 22°C to 34 °C with relative humidity of around 90% in the morning and 60% in the afternoon. The hottest months are June and July, while November and December are wet months and August to October are severe due to dust storms.
Forests and nature reserves make up for 23% of the land and the major rainforest is Bukit Timah Nature Reserve.
Real Estate in Singapore
The real estate market in Singapore is dynamic with average residential price being around US$ 540,000. For all of you who are planning to purchase, or invest in the Singaporean property market, there are a wide range of housing options. All modern constructions come with a plethora of excellent facilities that aid in maintaining a high standard of living in beautiful and clean environs and many offer panoramic views of the sea!
These reasons should be sufficient for you to realize that investing in property in Singapore now means only one thing – profit!
Billy Chen
billy@billychen71.com
Tel: (+65) 88689999
Fax: (+65) 64021826