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Check Out The Property Situation In Singapore

Check Out The Property Situation In Singapore

Singapore is known for its many millionaires who have fixed assets of at least $ 1 million. It is important to note that this does not include real estate in Singapore. The real estate business in Singapore has been restarting since 2011.

If you remember, the industry experienced some problems in 2009 which resulted in falling prices, but they have been on the rise ever since. Indeed, this has resulted in a total of $ 1 million worth of Pullman residences in Singapore and Pullman residences Show flat for sale.

Check Out The Property Situation In Singapore

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You may be wondering why this Singapore property market is so lucrative. Part of the reason could be easy access to credit, low-interest rates, and Singapore's growing economy.

 The economy reportedly grew 18% in the second quarter of 2012 alone. Another reason could be the increasing number of immigrants coming to Singapore.

State support

Another interesting fact in Singapore is that the home buyer spends only 36% of their monthly income on home loans. In 1997, when Singapore's real estate was at its peak, the figure was 50%. This means that property in Singapore is affordable.

Singapore also has support from its government. For example, the government imposes a 3% tax on all resales during the first 36 months after purchase. They also announce a minimum deposit of 30% for second homes.

Not only that, the Singapore government did support Singapore's new beginning. The government also relaxed some housing policies, so that most residents have apartments available as part of a building design and sale program.

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