Singapore is a popular tourist destination. With a beautiful climate, affordable living comparatively to the US, and English as a widely spoken language, Singapore is an excellent place for a holiday. On top of this, Singapore also sees many retirees settling down for the last section of their lives. Singapore looks like a great place to buy housing as a property investor, as the return will be great.
However, house prices in Singapore are much higher in comparison to their western counterparts. In the US, the average house costs $320,786. In Malaysia, it is the much higher $874,372. When it comes to prime property prices, Singapore is ninth in the world. Clearly then, investing in Singapore’s property is going to be incredibly expensive.
You may be thinking that there’s a chance the high price will be worth it for the return of tourism and retirement. However, the price isn’t the only barrier to investing in property in Singapore. Foreign investors looking to buy in Singapore don’t have access to buy all kinds of property. Most notably, new HDB flats cannot be purchased by foreign investors. To see the full extent of what you can and cannot buy, check out the infographic below.
For those who find that the price and restriction are no barrier to buying, investing in Singaporean property can be a smart move. Looking at the Forbes 40 richest people in Singapore, many of them made their money through property investment.
Infographic Design By: PropertyGuru Group
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