Many individuals in Singapore own more than one property. On their behalf, after the roof over one's head, the following target is obtain a second or even third property, with all the purpose of receiving targeted returns through rental income and through capital appreciation. Property investment is actually a popular financial activity in Singapore.
If you are also thinking of investing in property, the first thing to do is to set a financial budget. This will help greatly in determining what location, size and type property you should be looking at. Private property in Singapore ranges in the luxury class in prime method to those mid-tiers within the city fringe to store bought ones in suburban estates.
To purchase property entails long-term thinking and planning. The nice thing about buying property in Singapore is always that it's possible to get into it with relatively little money in the beginning. One have to know what one can afford so as not to overstretch oneself.
At this time when bank interest levels are at their historical rock-bottom levels, it could be very tempting to borrow heavily to fund an upmarket purchase. But rates of interest do not always remain low. The house investor must do his sum properly to ensure that when interest rates rise, it does not become too much of a burden for him to service his loan.
After you have worked your sums and are confident with your budget you have set, you are ready to visit shopping for your property. You almost certainly have heard property investment gurus stressing that it is exactly about location in terms of property. In Singapore, properties located near amenities tend to be in greater demand. People are willing to pay more for staying close to MRT stations, good schools, shopping centres and food outlets. A house near an international school or even a business park can command better rent.
In your property search, you ought to be looking for areas where there is certainly future growth potential. A government plan to provide the area where your property is located will definitely increase its value.