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Singapore is one of the leading economies of the world with high standards of living. Singapore also has one of the world’s most interventionist housing market policies where the government strictly controls and monitors the use of land and the allocation of housing units. With the low interest rates and the cooling measures adopted by the governments, activity in the housing market has started to rise.
One of the prime property locations in Singapore is the 11th district
of Central Singapore. Other prime locations include District 9 and
10. These areas fetch the highest rental yields.
One bedroom apartment of almost 450 square feet sells at rates
starting from S$800,000. Prices of property for sale in Singapore
generally start at around S$ 2000,000. It can go up to very high
levels, millions and billions of Singapore dollars, depending upon
the location and the property area.
New property types in Singapore can be either apartment, pent houses,
individual houses or landed houses. new property singapore can
be either for rent or for sale or for lease. Singapore has a small
rental sector and that mostly serves expatriates. In the local sector
too, 81% of all rental units are owned by the HBD.
Some of the prime property in Singapore include Newest in West Coast
area, White Haven in Pasir Panjang, Palms at Sixth Avenue, Cambio
suites, CT Hub 2, Hallmark residences etc. ome of the websites that
offer property advice and list properties for sale or rent in
Singapore are http://newlaunchadvisor.com/
The first step towards getting a property in Singapore is to appoint
a property agent. Property agents play a vital role in the Singapore
real estate market between the property buyers and the property
sellers. A property is then chosen for purchase and the transaction
completed with or without taking a bank loan. The Singapore
government also collects property tax on the property.
With the spurt in activity in the property market, a lot of new
housing projects are coming up in the various districts in Singapore.
The inflow of expatriates to Singapore has also pushed the property
rental prices to higher levels. The government too has decided to
tighten rules especially those relating to collecting blank cheques
from property buyers in order to safeguard the interests of the
consumers.
In a country where land is scarce, property prices are expected to
pick up in Singapore once activity in the property and real estate
market returns back to the levels before the economic slowdown.