In a recent survey carried out by CBRE, Singapore emerged as the third most preferred destination for cross-border real estate investment in the Asia-Pacific region in 2022. With the real estate industry in Singapore looking promising, it presents lucrative opportunities amidst stability and resilience. Being a forward-thinking investor, you might be thinking about how to start real estate business in Singapore. Whether you are considering your first real estate venture or happen to be a seasoned investor, this newsletter will help you gain the essential knowledge to make strategic decisions.
Singapore has emerged as a prime hub for global investors to put their money into real estate. The government of Singapore came up with a strategic approach while combating the challenges posed by the Covid-19 pandemic. As a result, the country’s real estate industry has witnessed a steady increment in property prices. Along with its strong global commercial infrastructure, the booming real estate market positions the country as a promising and secure investment destination, where you can capitalize on mid- to long-term benefits.
What Makes Singapore A Prime Investment Hub for Real Estate Investors?
- Sophisticated digital infrastructure: Singapore boasts edge-cutting digital infrastructure, a crucial aspect defining efficiency and connectivity for modern investors.
- Competitive workforce: The country has a workforce known for its competitiveness and diversity. For businesses seeking a skilled pool of talent, Singapore has emerged as a top investment destination.
- Expanding Central Business District: Singapore’s Central Business District has been consistently expanding, further strengthening the country’s position as a regional centre of business and wealth. For savvy investors, it holds immense potential for returns.
- Work-life balance: The typical Singaporean lifestyle is defined by the much-needed work-life balance. This makes it a preferred destination for both expatriates and residents.
- Low crime rate: Given that safety is paramount, the country boasts a negligible crime rate. Thus, a secure environment helps businesses and investors thrive.
- Political and economic stability: With political and economic stability ensuring a peaceful environment for residents and businesses, investors are drawn towards the country for secure deals.
- Strong dollar value: The Singaporean dollar has been performing pretty well compared to other currencies. This makes it a preferred hub for investment in the long run, particularly in the real estate segment.
- Regulation of financial institutions: In Singapore, financial institutions remain under the scrutiny of the authorities. This serves as a source of confidence for investors, who trust the financial ecosystem in the country while investing in real estate.
Your Guide to Residential Real Estate Investment in Singapore
1. Preliminary Considerations
2. Hiring a Professional Team
Consulting one of the trusted agent works wonders, provided the professional addresses your interests, not the sellers’. Identifying investment hot spot for wealthy foreigners in Singapore is crucial, and having a professional agent to guide you largely helps. Besides, it’s advisable to consult an experienced real estate lawyer, who can help you identify the potential pitfalls of the property and understand necessary legal aspects. In case financing is a part of your plan, make sure to loop in a financial adviser.
3. Structure your Real Estate Purchase
4. Get Financial Advice
5. Choosing your Property
6. Focus on the Buying Process
7. Get Tax Advice
8. Securing your Investment
Professional Support Matters during Property Investments in Singapore
The real estate market in Singapore presents a wealth of opportunities for those looking to invest wisely. The IMC Group continues to be your trusted partner for Singapore company incorporation, besides providing professional advice regarding taxation and finance. Supporting you at every step, we provide valuable insights and personalized solutions for your real estate ventures in Singapore.
