Private Residential Units

Private Residential Units

Highly regulated property sector in Singapore was three main segments; commercial, industrial and residential. The residential sector is further bifurcated into public sector and private sector properties. Urban Redevelopment Authority (URA) and Housing Development Board (HDB) are the main governmental agencies looking after the public sector housing in Singapore. However, private properties are managed by individuals, consortiums and individual firms.

Prices of private residential units had been on the upward trend for the last many quarters. The demanded prices of individual as well as community accommodations were sky rocketing till last quarter. It was reported to be growing at 5.3 percent. However, it is not being witnessed at 3.4 percent in the current quarter.

Current financial year’s third quarter is characterized by many aspects. It is marked by the closing months of the calendar year, which has been affecting many investment sectors including private properties for many years now. Similarly, government’s price cooling measures were also announced on 30 August in the same quarter. It will inappropriate to pin the responsibility of slow resurgence on these factors alone.

Analysts are of the opinion that primarily, it was the extremely exuberant prices which has discouraged many investors to wade in these waters. The average price index is still above the peak observed in 96. But the trend has started to falter midway. It is estimated that current 13-16% higher prices will be further down to 10-12 percent in the next quarter.

The rise in prices has not been uniform for all residential private properties all over the cosmopolitan. The outskirts have witnessed the highest increase, followed by the away-from-center sites. The centrally located properties near Orchard Road etc. did not record comparably higher prices.

This trend has affected the individual units and mass residences alike. In spite of Government’s permission to Permanent Residents and Foreigner’s to buy and own houses in Singapore, the demand has been curtailed due to high asking prices. Similarly, many of the launches of mass housing complexes have also received cold response from citizens and companies. The lack of interest by genuine home seeker also, is being attributed to high prices standards set forth by many investors and developers. This quarter has also seen some of the very important developments in which many companies announced a shift from property management to project management. The higher prices also forced many bidders to join hands to secure the sites, with psf ppr going up to S$880.

Some property consultants and analysts also suggest that the trend has set in even before the government announced the price cooling measures. Similarly, they opine that this trend will continue to affect the total number of units being sold. The demand has actually not reduced but less and less number of investors are ready to invest under prevailing conditions.
The situation is not all that gloomy though. The genuine home buyers are still purchasing the houses to relocated or upgrade their homes. There are also some sites, like MRT stations and Pasir Ris which have a promising outlook for the next quarter and even 1st quarter of the next financial quarter in Singapore.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

The Canopy Executive Condominium at Yishun »« Aug 30 Measures Start Yielding Results

Aug 30 Measures Start Yielding Results

Aug 30 Measures Start Yielding Results

On Aug30 government of Singapore announced very severe measures to control the speculation practices in in the real estate business so as the prices are inexpensive to all and the investment in the business remains secured with no prejudice to the national economy. Besides other measures, The Housing and Development Board (HDB) had also announced the penalty for the non-compliers of the policies already announced. The penalty included five thousands US Dollars or imprisonment for six months or even both can be awarded to the culprits.

According to the policy announced by the board, buyers of HDB flats will not be able to hold other properties whether private or public. This equal treatment plan will be applicable hereafter. The announcement of penalty will help the board to enforce the cooling measures announced by the government.

The important part of the announcement is that the buyers of HDB flats will not only be allowed to own any private or public property inland but will have to certify that the property owned by them abroad is also disposed after the purchase of non-subsidized unit within the period announced by the board. However such buyers will be able to buy private lands after completion of the five years period. In that case they will be required to declare their intent for purchase of private property in the application.

After concerted efforts at the government level, the anti-speculation measures have finally started yielding positive results. According to the statistics released by Housing Development Board for the ending month of September a very sharp decline in resale of the HDB flats has been noticed. The market rose by 4% in the first two quarters of the year. However, during the third quarter initially market did not get effects of the cooling measures as the transactions for the real estate were ordered before Aug30. In the month of September market index dropped by 25% on resale of the HDB flats.

Market players who were observing the trends since the announcement of the anti-speculation measures have sighed of relief. Experts have even predicted that the market index will even go down by the end of the year 2010. It is expected that the market activity during forthcoming year will see more decline in the index due to government’s property cooling measures.
Experts are making opinion that during the next year the property cooling measures themselves are not going to reduce the property prices. Instead, these will only provide help in price reduction of the properties in Singapore.

Another reason for the decline in the market is that the buyers are not eager to invest at this moment as they want to be precisely clear of the new adjusted rates of the properties. On the other hand the sellers are also hesitant of selling their properties due to the market uncertainties.

HDB has announced availability of 3400 new flats by the end of this year, alongside 5000 units being made available during the first quarter of next year.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Private Residential Units »« Cooling Measures Started Showing Results Despite Hot Weather

Cooling Measures Started Showing Results Despite Hot Weather

Cooling Measures Started Showing Results Despite Hot Weather

The Singapore government timely intervened to check the unabated price hike and demand of residential units. The measures so initiated started showing results rather quickly. Estimates released by the Housing and Development Board indicate a decline of approximately 25 percent in the sale / resale transactions in the housing sector during the month of September. The trend is an immediate outcome of the cooling measures initiated by the government on 30th August.
Apart from these cooling measures some other factors also figured in this reduced activity. The business deals of major real estate firms like ERA and PropNex are said to be a contributory factor in this context.

A comparative slow growth has been witnessed in the price index of private housing. As per the statistics of Urban Redevelopment Authority, this index rose by 3.1 percent in 3rd quarter as compared to an average growth of 5.3 percent in the 2nd quarter. This reduced activity also impacted the prices of non-landed private residential units in all the three regions. The price rise was quite slower in this quarter as compared to 2nd quarter. The price index rose only by 1.6 percent as compared to 5.4 percent in the last quarter. During the same period of time, the increase in the prices of the residential condos outside the Central Region was slashed by almost 3.3% as compared to the prices in the last quarter.

According to the statistics available with HDB, a decline in the application for resale was also observed at around 10 percent as compared to the 2nd quarter. Despite a 10% decline in application a very slight change of 0.1% was witnessed in the price index.

The critics are of the opinion that the figures are not true reflection of the effects of measures announced by the government, as the measures were announced on last day of August and most of the orders for September were already out then. However, this is the fact that a decline of almost 25% has been recorded as compared to the quarter ending in August.

It is expected that HDB will share complete market statistics openly by October 22, but the firms like ERA and PropNex are already sharing the major indicators with the general public. The ERA has accepted a 20% decline in the transactions made by the company in the month of September against the same period in last quarter. Same sort of statistics have also been revealed by the PropNex.

Both the major property firms are also of the opinion that the trend is likely to continue in the 4th quarter. It is being speculated that the growth may touch zero percent or a very negligible growth rate. However, they are optimistic that things will start changing in 2011 and it is expected that a steady growth rate of 2% will be achieved from 1st quarter of 2011 onwards.

As per revealed statistics of HDB, around 26,000 residential units were sold / resold in the market in the first three quarters of the current year. It is being expected that a total sale is likely to stay around 30,000 units, which is quite less as compared to the figure of 37,205 of the year 2009.

The experts are also talking about the cooling policies of the government. Though, they are of the opinion that the trend of unabated inflation in residential sector must be checked, but these measures have taken the market by surprise. Apart from these temporary setbacks, it is expected that the market will rebound and resale market is less likely to crash in the longer run.

It is expected that the prices of private home will be dependent on a number of factors which will include the buyer and the seller ratio, purchase power of the buyers, the facilities afforded by the developers and the Singapore Government strategies as regards to land sales.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Aug 30 Measures Start Yielding Results »« Does Government Measures Turn Down Property Prices

Does Government Measures Turn Down Property Prices

Does Government Measures Turn Down Property Prices

Singapore is a developing country, which is going very fast towards its success. All the major businesses and industries played a part of pillar for recover recession. Especially real estate industry gives it a real boost. Even in the period of recession the prices of property market rose by 1.8% but the landing prices dropped by 1%.that was remarkable ,when prices going down almost in every country .

The prices of private houses get a remarkable increase in second quarter of 2010, when they rose by 5.3%.Singapore government launched new measures to avoid anti speculative measures to cool down real estate market. Following measures were taken on30august 2010 including;

- 3% duty imposed on buying a house for less than 3 years.
- or selling houses less than 3 years.
- The down payment increased 5% more on the total value of the property.
- Loan amount was capped at 70%.
- Loan amount with down payment capped at 80%

Analyst claims that due to government measures the property marketing Q3 is increasing slowly than Q2.in Q3 the prices of private houses increased by 3.1%, which is 2.2% lesser than previous quarter. In Q3 10%-20% decrease shown in the sale of private houses. However in Q3 the prices of private homes increased by 2.4%, due to new launches of housing schemes by government. Where as the prices of private houses did not shoe remarkable increase. They showed only 1.6% increase.
By the end of 2010, the estimated Sale of new houses will be 13, 000-14,000. But the monthly transaction decreased by 25%in September.

No doubt the prices of property is rising in Singapore the, may be it is affected by the government measures. Some property guru’s claim that the rose in the prices of property during Q2, was just speculative and market tend to take correction to come to its real prices. The effect of government measures is not fully shown in Q3 ,but expecting in Q4.

Another reason for this moderation is may be due to liquidity. As a rule when liquidity decrease it tends to increase recession, as the liquidity increases, it can recover market down trends. Even the Ministry of Trade and Information (MTI) expecting GDP between 3 and 5 percent and 4.5% to 6.5%.Looking at this the property market should increase and bullish trends must be seen.
The cooling measures is putting impact on property market, but its positive in a sense that it eliminated speculation effect and now the market is coming back to its real prices.

New serious investors can come up and they can give strength en property rates. Some real buyers are still waiting for more decrease in market prices, and others showing cautious behavior toward buying.

Property market experts advising buyers or investors who wants to buy property buy it now because Property is on its best prices and they are positive about the market future. They are looking market at its high position. they are looking bullish about market prices.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Cooling Measures Started Showing Results Despite Hot Weather »« Can the Property Cooling Measures Really Cool the Hot Property Market

Can the Property Cooling Measures Really Cool the Hot Property Market

Can the Property Cooling Measures Really Cool the Hot Property Market

Property cooling measures were imposed on Aug 30 to cool down the price surge in residential property. The government took these steps to avoid property bubbles from forming and to avoid people over stretching their means to buy a residential unit.

So far we have seen a mixed response in the property market after these measures were taken. A condominium site at Pasir Ris was able to see a great sale right after these cooling measures had been imposed. And we had seen a little activity here and there for the residential flats. We have even seen sale and resale of HDB flats. Reportedly the resale prices has risen around 4%. But activity has slowed down a little bit.

Property analysts believe that early signs of the cooling measures are starting to appear. We had seen prices go up at some places like the NV Residences and resale prices climb like the HDB flats. Because there is an ever increase in economy in Singapore, and the rapid influx of expats, the demand for residential units is increasing also. And reports reveal that the prices for private homes grew in the second quarter but a slower pace is seen in the third quarter.

However analysts reveal that most of the transactions done concerning the private property were reported before the cooling measures had been introduced. The government hoped that after these cooling measures prices will come down a little bit but so far we have not seen that. Sales have slowed down a little bit and it has been a quiet in a few places but on the other hand prices have tried to climb up a little bit too at some places. The climbing rate has been slow but it is still very much there.

The cooling measures have shown its effect on a larger scale and property analysts believe that it will truly show its colors by the fourth quarter. But due to rise in demand of residential property one has to think if it will really make that much of a difference. The Urban Redevelopment Authority estimated 2.4% increase in the price.

The cooling measures included an increase in the amount of down payment and the buyers also can take out lesser loan from the bank against their mortgage thus making it a little difficult for them to attempt to get more mortgages. Moreover the duration in SSD also increased from 1 year to 3 years.

So far the sales numbers received by the property experts are from the first 10 weeks of the third quarter which also includes the first week of September that is after the cooling measures. Experts believe that prices will become restrained in the following weeks.
Research analysts opinionate that had there been no measures taken the property market would have closed at 16% or even 18% by the end of this year. But now after the policy it might close to a more moderate end that is around 2%-3% quarter growth.

In the rising demand for residential property and the recent policy to cool down the market, analysts await which way is the sale of property headed.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Does Government Measures Turn Down Property Prices »« Steady Flow in Rental for Industrial Properties in Singapore

Steady Flow in Rental for Industrial Properties in Singapore

Steady Flow in Rental for Industrial Properties in Singapore

The demand for warehouse, office and warehouse space is said to see a rise. The rents are also expected to rise as the demand from small and medium enterprises starts becoming strong. However same cannot be said about the pace or rise as it has slowed but it is still very much there in the third quarter.

The demand is there but the clients seem to have been looking for cheaper units. Reports have said that there are units available for rent that is mostly suitable for light and clean industries; they are also good for official use. These could be used as an alternative for office area as the rental for offices in locations nearer to the Central Business District (CBD) is high.

It is quoted that the average monthly rent for ground floor factory unit rose around 6.5 % in the third quarter and reached $1.65 per sq ft. For the warehouses it is said that the average monthly rent for ground floor units also increased around 3.3% in the third quarter and came to $1.55 per sq ft. However the average rent for hi-tech buildings stayed unchanged, according to a renowned property consultant. A considerable amount of activity is noted in the investment market relating to industrial properties with the bigger transactions translating to a total of S$835.7 million in the third quarter.

The monthly rent for hi-tech spaces held still at S$2.45 per square foot. This is because less office tenants go for hi tech building in order to save on rental, therefore there is a decrease in demand for such places.

The rents for factories is expected to rise in the fourth quarter however a slower pace is expected then the warehouse rentals as the demand for warehouses is more. The rise in demand is driven by foreign investors who want to use Singapore as platform to doing business in Asia.

According to the latest report that is issued from CBRE, the industrial property market is seeing improvement since the start of 2010. There were many tenders that were launched and several purchases were also recorded. Although since the manufacturing and production rate has decreased slightly, it is expected that some multinational companies might give up space to consolidate for their transactions world wide.

CBRE was optimistic about the leasing and buying for Industrial properties in the future. According to them increased activity is seen in the industrial property market due to the relocation of some operations from Loyang as well as the Defu vicinity.

The two largest transactions seen in industrial properties was the sale of CWT Commodity Hub and CWT Cold Hub to the Cache Logistics Trust. The accumulated net of these two sales was $445 million.

The government expects a GDP growth of 4.5 % to 6 % for 2010 and the manufacturers are generally optimistic about the business conditions. We are seeing an improved demand for the industrial space and a steady rise in rents towards the end of 2010.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Can the Property Cooling Measures Really Cool the Hot Property Market »« What Effects Does Hong Kong Cooling Measures Have

What Effects Does Hong Kong Cooling Measures Have

What Effects Does Hong Kong Cooling Measures Have

Singapore property market might see another bounce in its sales as reports of Hong Kong property cooling measures hit the city state. Property analysts believe that as the cooling measures surface in Hong Kong more mainland Chinese are going to turn their attention towards the Singapore property market investments.

Property cooling measures are generally taken to avoid and discontinue an imbalanced price surge in property market. The government of Hong Kong was also showing concern over the price surge in their state just as these measures were taken in Singapore for the main purpose. The Hong Kong government has also put a hold on automatic residency for foreign investors especially Chinese through the purchase of property in their state.

Hong Kong economic stature is perceived to be the benchmark for Singapore. It is believed so because the two states share some similarities, the main ones being that both lack natural reserves and have scarce land for their usage, both depend on industrialization for their economy and investments in their hot property market. The Chinese make up a substantial percentage that invests in Hong Kong and Singapore properties. Therefore when things start to slow up in Hong Kong market after the cooling measures it is a natural consequence to expect that the Chinese might want to avail opportunities in Singapore.

The property market of Singapore is said to follow the lead of the market in Hong Kong. Property analysts say that as an example we can assume if the average pricing of 120 sqm apartment in Hong Kong costs $21,539 then in Singapore it would cost $15,012. So if the property market slows in Hong Kong, the buyers would search for appropriate market elsewhere; and Singapore, gaining importance in its economy, is coming to the top of their list of searches. It is also due to the foreign investors that there is a steady flow in the market even after increase in supply.

A Research and Consulting expert opines that every time when cooling measures are applied in any of these two countries-China and Hong Kong, Singapore property expects Chinese investors to search for alternative places to invest and Singapore is becoming their top priority.

It would be over ambitious to believe however that due to property cooling measures in Hong Kong, the property would see a massive change in Singapore. We might expect a slight increase in prices expecting Chinese investors to cater this market more, but overall the affect to this market would be limited since not many Singaporeans invest in Hong Kong. Singaporean investors often go for property in Australia and UK where the market is less deterred.

Singapore developers would be more cautious of raising the prices in fear of another string of cooling measure to take place. Experts are also of the opinion that the tightening of property market of Hong Kong can have psychological affect on the market of Singapore as well.

The property market is very keen on receiving abrupt changes in its industry. There are a lot many factors affecting the sale and purchase of real estate and it is always hard to pinpoint a single aspect doing so.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Steady Flow in Rental for Industrial Properties in Singapore »« Executive Condominiums Gaining Popularity

Executive Condominiums Gaining Popularity

Executive Condominiums Gaining Popularity

Property market remains unpredictable as ever. Reports are pouring in about Executive Condominiums (ECs) being still a hot item in the property market. The property cooling measures did slow down the things in the market; but condominium sale has seen a good sale here and there as well as the commercial rental estates.

After the sale of NV Residences right after the cooling measures, the market is witnessing that though the cooling measures might have slowed down the property market as a whole, savvy buyers are still keen on investing on the best buy of the market.

The government took these cooling measures to ensure that estate balloons don’t form up and that the developers will have to control the price surge however the condo site located at Pasir Ris even raised their average price a little bit after seeing a healthy response at their showflat. Reports confirm that the demand for executive condominiums is said to rise.

Recently a new sale of Executive Condominiums was launched in Sengkang. The Esparina is an executive condominium project which was lucky enough to see a 60% sale at its showflat. However another not so lucky EC project launched was the Yishun’s The Canopy which attracted only 50% attention for now. The sales for this project is said to begin on October 16. Many more EC projects are said to launch in the duration of next year.

The prices of Executive Condominiums is comparatively less than the private condominiums and probably this is why they are seeing a good sale and it is also the reason why their developers have not lowered the prices as yet. The average prices of these condominiums range from $650 sq ft to $750 sq ft.

The similarity between the executive and the private condominiums stands amongst the amenities and the facilities provided. But the buyers for ECs should not have a monthly income more than S$10,000.

The demand for condominiums has rapidly increased the supply of the condos however, this huge supply of condos plus the fact that the resale prices of HDB flats has also come down provides the buyer with a lot of opportunities. Now the buyer weighs his options as to what turns out to be a good investment.

Generally though it is believed that there will still be a steady demand and supply of the executive condominiums and this is revealed by their sales. This being the fact, we should also keep in mind that whatever the real estate property, its demand, popularity and sale by large depends upon its accessibility. And Singapore being a self sufficient city state with a prosperous economy and industrial life accessibility is a major factor. A buyer always keeps in mind if the potential real estate is in close proximity to the LRT or the MRT stations, entertainment and shopping areas.

With the economic growth like that of Singapore, the property and real estate analysts can only wait and see how the markets for all types of estates turn out in the after math of property cooling measures.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

What Effects Does Hong Kong Cooling Measures Have »« NV Residence in Pasir Ris Another Condominium Site lands Bid

NV Residence in Pasir Ris Another Condominium Site lands Bid

NV Residence in Pasir Ris Another Condominium Site lands Bid

And there is news that a condominium site near NV Residence in Pasir Ris was opened for tenders this month and the property market had seen confusing turn over in property recently so the developers were not keen on receiving any great offers. It did however land with a good bid resulting in sale of tender.

This tender was put forth by a joint venture of Frasers Centrepoint and Far East Organization. This alliance plans on building a 12-storey condo with 11 blocks comprising 400 to 450 units in all. Perhaps they think that a condominium project has better future than any other kind of residential property.

Their tender was worth $151.38 million, or in other words $334 psf per plot ratio. This was the highest bid for tender that was received. The next highest was $140.69 million which is offered by Hoi Hup Realty, Sunway Developments and SC Wong Holdings. Both had a tie over their bids.

This condo site, situated at the intersection of Pasir Ris Drive 3 and Pasir Ris Drive 4 though not near an MRT Station, is still nearer to an entertainment hub. It has a site area of about 20,000 sq m. It landed with 4 bids altogether. The third highest bid was from Allgreen Properties with $131.89 million and the fourth highest was Meadows Investment with $106 million.

It shows that there was a cautious response to this site. The developers of this site had hoped it would get a higher bid than the highest they got. But still after the cooling measures this is a good turn up.

Earlier on in the third quarter of this financial year we had seen a mixed response towards purchasing lease property after the Ghost Month had ended and the property cooling measures were implemented in Singapore in August 30. Right after this implementation the NV Residences made a confident sale opening for their condominium flats which surprisingly to everyone it went off pretty good and they managed to sell off around 350 flats out of the 380 that they had first put on sale. They even managed to raise their average price a little bit.

The property cooling measures were taken to move towards an economy that is free from property bubbles. The prices had started to surge in the Singapore property market and it seemed that properties were aimed only for the niche’ class or perhaps the people over extended their means and resources to get them a desired abode.

A little activity has been seen here and there a little bit and it would be hard to say if all of the activity was upscale however there has been a little buzz and it has not been all quiet. Property analysts hope that the market would again turn up after the people have had time to think. Investment analysts say that the prices of freehold condo prices have seen a dip but the price level is still higher than the previous years’ records.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Executive Condominiums Gaining Popularity »« Tough Criteria for foreigners to land PR

Tough Criteria for foreigners to land PR

Tough Criteria for foreigners to land PR

Foreigners parking assets for PR must invest $10m (original)
Singapore tends to become an economic and wealth banking hub for investors from all over the world. But as it grows in popularity Singaporeans have shown great concern about the foreigners pouring in. however the government has now planned a new scheme to ‘filter in’ only the right kind of investors into Singapore. People whom the government think are the ‘right pedigree of clients’.

The government has put the new limit of parking assets to be around $10 million, making it harder for foreign investors to become Singapore Permanent Residents. The government believes that this scheme will only attract those who are thoroughbred wealthy and not those who have just hit the jackpot once.
These tougher rules have been applied so that they can better manage the rapid influx of foreigners which was becoming a great concern to the Singapore citizens. The government in an attempt to calm this erupting unrest among the Singaporeans, have lately altered this scheme of PR. These guidelines or new rules have been implemented under the Global Investor Programme (GIP).

Earlier on foreigners who invested $2 million can consume around half of this amount to buy a private home. And the applicant’s parents or grandparents could have also been accepted under the same GIP; however this provision is no longer available.

This GIP was initialized by Contact Singapore which was a merger of Economic Development Board and the Manpower Ministry. It had been born to make a pathway for foreign entrepreneurs and businessmen. Singapore has always been keen on foreign investment and has invited and encouraged those expats who could in some way aid to the progress of the economy of the city-state.

As the foreigners have considerably increased in numbers in Singapore, it is now becoming threatening to the existence of the citizens. One of the leading newspapers has revealed however that Contact Singapore has not disclosed how many foreigners have exactly come looking for Private Residency.

Although these changes are going to be implemented from next January, still foreigners will invest through the new regulations because the processing alone takes around 8 months.

Statistics show that around 59,000 foreigners were registered under PR in 2009 and some 79,000 in 2008.
Another scheme in Singapore which offers PR status is the Monetary Authority of Singapore’s Financial Investor Scheme which makes it compulsory for the foreigners to have $20 million worth of parking assets. Singapore is not the only one offering such schemes, New Zealand and Australia also have such schemes.

Another side to the story is that these schemes might drive the investors away. However senior economists believe that it is not going to be true since the potential investors will definitely have much more than that anyway to invest.
Though it seems that the Singapore government is developing a strategy to drive foreign investors away; it is far from reality. As what they are actually trying to do is address to the concerns of the citizens of their nation.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

NV Residence in Pasir Ris Another Condominium Site lands Bid »« Esparina Residences, A Project of Fraser’s Centre point Draws Overwhelming Response