Have you thought of buying a property in Singapore? Are you a real estate investor and are thinking why there are so many big projects being launched in Singapore? Well, there are a lot of new developments and even the older ones are reselling and renewing with time.
You might have heard about The Florence Residences top, also known as the former Florence Regency, being changed dramatically over time and new gigantic property projects launching in 2019.
So, what is going on with all this new development? Why even the older residences are expanding and developing so rapidly?
Attractive rental income
Probably the biggest reason so far for the growth of property business in Singapore is the appropriate rental income. Many individuals who invest in property want their income to become passive and they look towards benefiting from it as the time goes by. Talking about passive income, the best way to attain it is perhaps by rental income. Singapore is a place where you will find great room for rental income. Individuals step forward to live into apartments and would happily agree on appropriate rents.
As said, the development of new residences and refurbishment of older ones indicate development in Singapore. You will find a very well laid out city with decent planning and solid infrastructure. Therefore, people love to go there and live, to enjoy the state of the art facilities being provided and do their jobs. This also attracts the investors from global market to step into the business and make good money.
Interest of locals
Locals on the other hand show keen interest in condos and apartments. Many people spend their lives in the condos and more and more individuals are willing to get a place for living in Singapore. With the growing population, the residences and facilities are always needed and real estate market is looking to capitalize on it.
Interest of foreigners
Foreigners have a solid eye on Singapore. A lot of individuals from all over the world plan to live in Singapore while some are asked to stay there for business and job purposes. With growing industries and business, international companies and investors look up to invest in real estate so that they can get appropriate returns.
Moreover, it is also a great tourist destination and people from all across the globe come to cherish the amazing sceneries and lifestyle of this country. Therefore, if you have a real estate to your name, you have a chance to capitalize on this sector too.
Capital gain over time
And lastly, the property investment in Singapore is known to provide great return. People who invest in real estate in Singapore are likely to have high capital gain in future. We all know that with the growth of cities and economies the value of that location rises. Therefore, considering the market of Singapore in recent times, although there is a slight dip, it is believed that the property value will be doubled by 2030.