Why should one invest in Singapore property? The primary reason is that Singapore is a thriving business hub. The country has significant economic infrastructure and success in Asia and is one of the safest countries in the world. Real estate is a lucrative investment to indulge in this country. The housing is categorized in public housing (HDB) or private buildings that include of apartments, landed properties and condominiums.
What you need to know about serviced apartments.
Serviced apartments are fully furnished and equipped and give the occupants a home away from home experience. They have housekeeping and 24 hours customer services, parking, free Wi-Fi and other amenities meant to match your lifestyle. The utility bills and the other services are inclusive of the rent. The serviced apartments are used for extended stay accommodations.
One may purchase serviced apartments in Singapore for investment purposes or for residing. First-time buyers and foreigners may find the process of buying hectic and thus may need a real estate professional. The professionals are well versed in local laws and current measures put in place. They will guide you on how some laws affect you, for example, the Total Debt Servicing Ratio, Additional Buyer Stamp Duty and Loan to Value or cash payment. If one invests in serviced apartments, there are higher rental incomes and minimal risks.
Factors to consider when buying serviced apartments.
If your primary objective was a living place, you should find the living space, is it enough for you? The other thing is the family size and any future growth of the household. The financial situation is vital, and one should be in a position to access loans or mortgages. The future financial and retirement plans should be considered to avoid financial strains. The location is both important to investors as well as residents buyers. Residents should ensure facilities and amenities they require are within reach.
The investors should consider an upcoming neighborhood and a marketable place.
When investing one should reflect on several issues such as the probability of rent increase, capital required and risks regarding the property. The surrounding property is also vital for it will in one way or the other determine the rental income. The proximity to public transport and general amenities is also worth contemplating upon as well as how long you are willing to hold onto the apartment. Marketing the property is crucial and also factors such as property agents.
Most serviced apartments are managed by hotel lines and if one was to invest they need not be fully involved in its running. People may invest in Singapore property even if they are not residing in the country. Serviced apartments are indeed a lucrative investment to venture in.