Over recent years, Singapore property investment has a been lucrative avenue for high net worth individuals to grow their global assets. Asia Property Consultants independently assists clients effectively and efficiently project manage all legal, accounting, finance and tax matters relating to the Singapore property investment. Key factors for international investors to consider before becoming involved in Singapore property investment include:

The Singapore property market figures for third quarter 2008 show the negative impact of the current global economic downturn. According to Urban Development Authority (URA), prices of private residential, office, and shop properties decreased by 2.4%, 3.9% and 0.3% respectively in the 3rd Quarter 2008 while the prices of industrial properties increased slightly by 0.9% in the same period.  Declines were also seen in the rental market, although small at less than 1% for the residential, office and shop sectors.

As at 3rd Quarter 2008, there were 66,422 private residential units in the pipeline, including those already under construction and those that have been granted planning approval but are not under construction yet. Of these, 42,918 units were still unsold and 37,051 were expected to be completed between 4th Quarter 2008 and 2011.

Foreigners are permitted to undertake Singapore property investment. The main restriction is that investors wishing to purchase Singapore property with land are required to obtain approval from the Singapore Land Authority (SLA).

According to the 2Q 2008 Knight Frank report, although marginally declining, foreign buyers still accounted for a significant share of property purchases at 25.7%. The Mercer 2009 Quality of Living Survey attests to the desirability of Singapore as a place to live (the country moved up 6 positions this year to number 26), which is reassuring when considering Singapore property investment.

International entrepreneurs and investors use Singapore property investment to grow their global assets.  Purposes can be i) residential real estate for entrepreneurs living in Singapore, ii) commercial real estate to support business interests or iii) as a rental property to give an additional income stream.

The Singapore Economic Development Board's (EDB) Global Investor Programme (GIP) is a government initiative whereby foreigners can gain permanent residency by investing in Singapore.  Part of the required investment volume can be via Singapore property investment.

Asia Property Consultants assists clients with all facets of Singapore property investment.  International investors and entrepreneurs save time and money by using our firm to project manage key aspects of purchasing Singapore property and selling Singapore property. These key aspects include:

Developing market analysis related to Singapore real estate cycles, current property trends, interest rate and currency movements and their impacts on Singapore property investment. Reliable, reputable sources are referenced including the Singapore Economic Development Board, the Urban Redevelopment Authority, the Land Transport Authority and the Monetary Authority of Singapore.

Providing professional tax and accounting advice to ensure clients tax obligations are met.  No capital gains tax is one advantage of Singapore property investment.

Organizing property management requirements including refurbishments, finding tenants, property maintenance, arranging property insurance, organizing property valuations, implementing property security measures.

Appointing and supervising a local lawyer to ensure all legal matters are undertaken correctly.

Obtaining international mortgages to support their Singapore property investment. Investors can borrow up to 80% of the valuation or purchase price of the Singapore property, whichever is lower, according to Monetary Authority of Singapore (MAS) guidelines.

For more information on Singapore property investment, call our Singapore office at (+65) 67350120 or contact email@healyconsultants.com