Feed on

Singapore citizens had always had a   property, especially with condominiums. At just 600 over square kilometres, this island is one of the smallest countries in the Asia region. Thus, it seems sure that property prices will increase with time. Indeed, owners who still maintain their condospurchased in the 70’s will have seen their value increase many fold. 

 2          As is the norm in Singapore, most couples start off with a Government subsidized flat, but later aspire to upgrade to a condo. Some buy resale condo, while some go for New Condominium LaunchLaunches. Resale Condominium has its strengths, for instance one will be able to move in swiftly and is able to view the Condominium for oneself. New Condominium Launch has its strengths too – there is scope for capital appreciation and further, one will be the first to move into the Condo. Therefore, the ultimate decision between resale versus New Condo Launches depends on many variables.

3          Buyers keen in New Condo Lanuches are currently spoilt for choice. For instance, Far East Organization has just launched “euHabitat” near Paya Lebar area. What is distinctive about it is that it offers a range of housing options – condo, suite, SOHO and townhouse. Up North is another new launch – Boathouse Residences. Situated near Punggol Waterfront Town, residents have numerous watersports options during the Saturday. These are just 2 of many New Condominium Launches that are at present on sale.

  4          This year has been one of fiscal instability, specially with the European debt crisis coupled with the latest downgrading of the US’s credit rating by S&P. Indeed, investors worldwide have been jittery and the financial stock markets have been in mayhem. Nevertheles, even with all these market settings, Condo developers go on to push out New Condo Launches relentlessly. Just go through the newspapers every week and you will hear of a New Property Launch! Visit a condo show flat and one will see many buyers thronging the showroom to find out more about that condo. Much more than just visitors, they are in fact snapping up the condominiums on offer. This is notwithstanding the Government’s property cooling measures introduced in early 2011. Case in point, the holding period for imposition of Seller’s Stamp Duty is upped from the present three years to four years. Further, the Loan-To-Value limit has been brought down from seventy to 60 percent for investors who have currently more than 1 housing bank loan. In that case what explains the buoyant housing market? Reasons are plenty; for example, the rock bottom low interest rates make it cheap for buyers to borrow money from the financial institutions to pay for their condominium. In addition, owners still expect property value to go up in the coming years. Furthermore, there has been an influx of rich overseas buyers who see Singapore as a secure country to invest their capital in.

 5          It would appear that Singapore citizens love for seems set to carry on!

Call Realtor Agata Grudzinski @ (850) 708-7724 for Property Details.