Singapore Real Estate

Property In 2008

2007 was a great year to own a Singapore Singapore property. Reports from all over had Singapore property market price increases ranging from 24 to 31 percent. This is one considerably significant upsurge since the Asian crisis swept the continent in 1996. In fact, the island nation is the year’s third top performer in the world of investment Singapore property markets behind China and, the most profitable in the investment Singapore property industry, Bulgaria. These escalations were made possible despite the tough year experienced by other nations.

Being third, unfortunately, does not seem to equate to good rental yields as Singapore Singapore property prices produced only 2.8% as compared to the 11.35% offered by Cairo. This is perhaps one of the reasons why forecasters’ predictions on the country’s Singapore property listings for 2008 are bleak.

Others rationalize that slow growths in private Singapore property prices are imminent should there be a US recession and given the recent low in the global financial markets. A higher return can be anticipated through raised rates, provided that market unrest, on a national or global scale, and government interventions, to lower such increases, will not prove to be too much of a barrier.

On the upside, consultants believe that an expected rental rise could boost prices. Singapore Properties for sale in Singapore are currently viewed as low risk and with stable rental yields. Although residential Singapore property rates are not presumed to grow as much as last year, in the least, rent pace assumptions are moderate to slow.

For the most part, commercial Singapore property is expected to continue at its fast rate as the city-state’s economy develops. Office spaces, hotels, retail outlets, and even warehousing facilities are expected to proliferate. Analysts see a trend towards developing efficient and sustainable technologies for buildings – an aspect that several investors are presently exploring and factoring in.

Another potential form of Singapore property is in the condominium market wherein typically small land areas for a family or two could reap more revenue by converting them into high-rises for tens of families. These are especially more lucrative in areas close to the new MRT stations.

Another business deal similar to last year’s sale of GE Real Estate’s Anson House to Australia’s Macquarie Bank is also another thing being considered. Reselling during a time when development is at a high and investors are pouring in can rake in large earnings.

For those planning to invest in Singapore Singapore property, eyes and ears should be kept alert and open. With several highly-publicized events for 2008, the Republic will surely see more than its share of investors.

Where is it located?
How far is it from schools and offices? Is there a local shop that is within walking distance or is at least a short drive away? If you or the tenant does not have a car, is public transportation nearby? What about recreational facilities such as playgrounds, parks and even malls? Is the neighborhood clean and safe or is it rundown and littered with unscrupulous characters?

What are its aesthetic properties?
Does the house have any points of interest such as a nice panoramic view of the ocean, the mountaintops or the city? Does it come with a swimming pool or a spacious backyard? Is the architecture unique in terms of exterior or interior design? Has the Singapore property been landscaped or does it have the potential to look attractive outside and/or inside?

How inhabitable is it?
Would the house require constant repairs? Is there enough space between neighbors for privacy? Can the area accommodate cars for owners, tenants and guests? How accessible is it? Does the house require residents and visitors to climb stairs?

How resilient is it?
Can it withstand any hail, storm or flood that might be native to that area? Can you imagine the area during spring, summer, fall and winter? Does the property get enough sunlight? Is there a fire escape? Not to get morbid, but does it have a basement, bomb shelter or panic room in case of emergencies?

It is always a good idea to have sufficient knowledge about the Singapore property market in that area when house or property hunting. When deciding, know where you stand and what your priorities are. Also, bear in mind that buying or investing in property is always a risk. If you take all this into consideration, then you are ready to look at those property listings again. Happy hunting!

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