Published on 10 April 2007 at 03:23 pm
Filed in Property News for Singapore » The Appeal of Property in Singapore is Rising
The economy in Singapore is in a very healthy position at the moment with data relating to 2007’s first quarter performance having just been released. The data highlights that the property and construction sectors of the economy helped significantly in contributing to a far better than expected 7.2% rise in GDP between January and March 2007.
Looking ahead, a great deal is being done to further promote the attraction of property in Singapore as an investment commodity to the international marketplace - which bodes exceptionally well for at least the short term prospects of the economy. The appeal of property in Singapore is rising and in this article we explain why.
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The process for buying property in Singapore for expatriates, foreign residents living in Singapore and overseas investors is slightly convoluted and confusing as many exceptions, exemptions and requirements exist.
This is a general guide about how to buy property in Singapore and details the main specifics of the process. However a potential purchaser should seek personalized legal advice before entering the market to ensure that they are aware of any restrictions or permission requirements that they will have to be aware of or fulfil in order to buy property in Singapore.
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The property market in Singapore suffered a slowdown and correction following a period of economic uncertainty that the Republic suffered during the early part of this century.
Now that Singapore’s economic fortunes are changing for the better, the property market is also recovering with the residential market sector recovery period expected to last at least for the medium term and strong investment potential appearing in the retail and commercial property sectors as well.
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The island city-state Republic of Singapore in South East Asia offers property investors a chance to tap into a well established luxury end property market with a strong track record for growth and demand.
Singapore is such a beautiful and vibrant place to live that demand for residential and commercial property is almost off the scale; add to this the fact that Singapore has a per capita GDP equal to that of the largest Western European countries and that the government are actually modifying policies to create a more robust growth path and an investor should quickly spot that the strong growth and demand factors are very likely sustainable.
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