Lots of people in Singapore own more than one property. For them, after having a roof over one's head, the following target is buy a second or even third property, using the goal of getting good returns through rental income and through capital appreciation. Property investment is actually a popular financial activity in Singapore.
If you're also considering purchasing property, one thing to do is to set a financial budget. This will help you greatly in determining what location, size and type property you need to be looking at. Private property in Singapore ranges in the luxury class in prime method to those mid-tiers inside the city fringe to mass market ones in suburban estates.
To purchase property entails long-term thinking and planning. The good thing regarding buying property in Singapore is the fact that one can go into it with relatively little money in the beginning. Only one must know what one can afford so they won't overstretch oneself.
Right now when bank interest levels have reached their historical rock-bottom levels, it may be very tempting to loan heavily to fund an upmarket purchase. But rates of interest don't always remain low. The house investor ought to do his sum properly to make sure that when rates of interest rise, it does not become an excessive amount of a burden for him to service his loan.
Once you have worked your sums and so are confident with your budget you've got set, you are prepared to look shopping for your home. You most likely often hear property investment gurus stressing that it is all about location with regards to property. In Singapore, properties located near amenities are generally in greater demand. Folks are willing to pay more for staying near to MRT stations, good schools, shopping centres and food outlets. A house near a global school or even a business park can command better rent.
Inside your property search, you should be on the lookout for places that there is certainly future growth potential. A government plan to get the area where your property is located will surely increase its value.