The city of Singapore shares the distinct honour of being somewhere you might have heard of but never truly understood. In fact if you asked most people to show you where Singapore was on a map they’d probably wind up pointing at Hong Kong instead. Except perhaps for those who follow the F1 trail – Singapore is one of its jewel stops, famed for its night races.
Regardless of whether you know where Singapore is, or isn’t for that matter, you’ll find that it is still the business and travel hub for Asia, as it has been since colonial times. In addition to this the government of Singapore are actively courting foreign investment of all kinds, backed up by the fact that roughly 1,000,000 (one million) foreign nationals currently reside in the city, accounting for almost 20% of the total population.
Here are some of the main reasons to invest in Singapore real estate:
1. Due to its financial wealth Singapore is often referred to as the “Switzerland of the East”, making it a safe haven for your money.
2. The city is consistently rated as one of the top cities to live in anywhere on planet Earth, beating out most contenders by quite a large margin.
3. Unlike most other Asian countries foreigners living and working in Singapore can actually own Singapore condominiums and apartments – this is thanks to the clear laws governing the ownership of property by non-nationals. An example of a project that is popular among expatriates is 70 St Patricks, at St Patricks Road near the East Coast beaches.
4. Foreign nationals can also avail themselves of the relatively low interest rates on mortgages here, while also being able to take advantage of the lack of a capital gains tax.
5. The property market in Singapore is so active that if, for whatever reason, you don’t enjoy living here then you’ll find it very easy to sell your Singapore home and move on with your life.
6. Even if you’re just investing in properties to profit from capital appreciation, you’ll find that the upside potential from properties here have historically been far above the global average.
In addition to the above you have all the other social reasons for investing in Singapore, such as excellent employment opportunities and very low crime rates, but more than anything else you’ll have the rare chance to invest in the real estate jewel of Asia.