Can You Buy A Property In Singapore Without Viewing?

In a global property landscape such as in Singapore, where millions of dollars cross trans boundaries in the blink of an eye, Singapore has transformed from a sleepy island state into a place where global investors congregate to invest in prime property. Flushed with hot money as a result of the global fiscal monetary policy, these investors descend onto the tiny island, gobbling up multi-million dollars worth of properties until the government put a firm stop to it in 2011 by introducing sharp tax hikes in foreign purchases in the form of the Additional Buyers Stamp Duties (ABSD).

The property scene has whittled down somewhat ever since the stiff tax hikes were introduced, with the latest flash figures from SRX (Singapore real estate exchange) showing declines quarter on quarter since the end of 2013. Nonetheless, hot money is still out there, channeled into developing economies such as Vietnam, Philippines and Thailand, and to a large part, London due to investors betting on the appreciation of the british pound in future. This has also caused the property markets in those countries to experience rapid price growth, although not to the extent seen in Singapore or Hong Kong.

Such is the global appeal of Singapore, you can be sure the buying frenzy will be back once the government of Singapore lifts the tight controls and removes the ABSD. When there is no safer haven in Asia besides Hong Kong, Singapore, the financial centre of South East Asia beckons with its clean image, stable government supporting capitalism, relative ease of doing business and friendly tax laws.

For these global investors, buying a property does not entail spending countless weekends viewing homes. In most instances, buying a multi-million dollar property involves just a pick-up of the phone and a long distance call to a trusted realtor or representative in a local office and placing the offer through them. The deal can be done as fast as within a day.

How then, you might ask, that a savvy investor in New York decide that the property is the right bet? Simple, property investment is all about figures, namely:

1) Entry price
2) Exit price
3) ROI (Return On Investment or Expected Capital Gain)
4) Rental Yield
5) Liquidity

In general, The property plays in Singapore is limited to full commercial title properties and condominium apartment units. The cream of the crop would be prime district apartments in the city such as those in Orchard Rd and River Valley and the Marina Bay area. An opulent penthouse in the city can cost upwards of $10m Sing Dollars. Recently, a gigantic penthouse atop the tallest tower that is soon to be built in the heart of the central business district (CBD), called Clermont Residences, was featured on a top 10 list of the most expensive properties that can be bought around the world. Commerical strata titled shophouses and offices are also amongst the most desirable assets of global investors.

While statistics play the most important role in decision making, In some cases, the investor might request some paper information of the property such as the site plan and floor plans, which would reveal more on the facing and view of the Property. By using internet tools such as google streetview and google earth, an investor sitting in a downtown Manhattan office in New York can easily pinpoint the exact location and have a pretty accurate mental picture of the property he/she is buying.

So there you have it! YES, u can buy a property without a single viewing. Many others around the world have done so and are making millions. Are u then, a true global investor?

Source – http://www.artipot.com/articles/1752572/can-you-buy-a-property-in-singapore-without-viewing.htm

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