Can foreigners buy real estate in Singapore?

By |2021-08-05T21:40:01+08:00|News, Real Estate|

Singapore is a business hub and home to a number of global corporations. Singapore, as a well-developed industrial metropolis in the heart of Asia, is home to some of the world’s most prestigious companies and businesses, making it a particularly appealing base for foreigners and expatriates. Singapore is one of the most expensive cities in the world to live in due to its massive commercial, industrial, and financial vitality. Singapore’s economy is relatively stable, and it continues to be a favorite choice for business-minded expats and foreign investors. Trendy villas and residences can be found in freshly created districts such as Avenue South Residence and Amber Park. Beautiful waterfront developments can be found in the suburbs.

If you are a foreigner considering relocating to Singapore for job or business, you should research the cost of living in the city-state.
When you decide to relocate to Singapore, one of the most important considerations is housing.

Singapore’s real estate market is quite expensive, and prices vary depending on amenities, luxury, class, and type of residence.

These are some of the questions that may come to mind once you’ve decided to relocate to Singapore:

  1. Where will I make my home?
  2. Is it possible for me to purchase a home in Singapore?
  3. Which it preferable, to buy or to lease?

Here here’s the kicker:

If you intend to stay in Singapore for a long period, it is preferable to purchase a new home. (long-term rental vs purchase fees)

Singapore is a well-organized city, and all foreigners must meet certain requirements before purchasing a home.
Furthermore, there are specific restrictions on the kind of houses you can purchase, necessitating a thorough understanding of the procedures involved in purchasing a new home in Singapore.

About Singapore’s Property Market

Singapore’s property market is vast, but it took a leap forward in 2009, with residential apartment prices rising by 38.2 percent in the second quarter of 2010. The market became extremely expensive, and the Singaporean government soon intervened to bring the price down. One of these steps was to complicate the process of obtaining a mortgage. Another wise move was to raise the stamp duty fee after each acquisition.

These were some of the factors that helped to temper the steep rise in home prices. The market also saw some price swings on a regular basis.

Property prices in Singapore had declined by 1.8 percent by the end of the first quarter of 2016. After a 3% dip in 2015, this is a significant improvement. Singapore’s government places a high importance on the real estate industry and ensures that it is properly regulated. Changes in the real estate market have a significant impact on Singapore’s entire economy. Singapore’s real estate business is notable for its inherent and consistent stability, which makes it a safe haven for both local and foreign investors.

What are the most common types of property in Singapore?

Singapore’s real estate market has seen a lot of growth. A larger portion of Singapore is urbanized, leaving only a small amount of land for residential activity. In urban regions, there will be a profusion of apartments, condos, and flats to pick from.

You can buy a condo as a foreigner, subject to certain restrictions, but you won’t be allowed to buy land. (See below).

Surveying a property is one of the first things you should do beforehand. Although the law does not compel you to study the property before purchasing it, due diligence is always an essential aspect to satisfactory investment/purchase.

Is it possible for foreigners to invest in Singapore real estate?

Because of the intricacies of the Singaporean market, foreigners must be aware of the many restrictions in the market before proceeding to purchase any property. Foreigners can buy new buildings and condos in Singapore under the Residential Property Act. However, this only applies to structures with no more than six stories. Purchasing land is a significantly more difficult procedure.

As an expatriate, you are more likely to run into problems with foreign exchange; as a result, when you’re ready to buy a home in Singapore, you should seek guidance from local real estate professionals.

What are the must-dos for a foreigner looking to buy a home in Singapore?

If you rush to acquire a home in Singapore without first consulting a lawyer/local property consultant, you may find yourself in legal danger. They must be a Singaporean who is familiar with the country’s property laws.

You must first educate yourself about mortgages before deciding which one is ideal for you. This will help determine your budget.

Here are some important tips:

  1. Hire a local property agent / lawyer, you can trust.
  2. Select the property that you want.
  3. Make offers, and once the seller agrees to sell to you, proceed to payment.
  4. Pay a visit to the banking institution to finalize the mortgage.
  5. As soon as the Lawyer has finished setting up the choices, double-check that the seller is the legal owner of the property.
  6. Check to see if you can lawfully sell the property.
  7. It’s critical to reserve the property, so go ahead and pay the 1% optional charge now.
  8. Complete the payment in two weeks and then continue.
  9. Contact your attorney and request that he draft a paperwork for the transfer of ownership of the property’s title.
  10. Both the buyer and the seller must sign this.
  11. The Lawyer arranges the documentation for the transfer of property title.
  12. More importantly, the lawyer must properly register the sale.

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2019 Review of Avenue South Residence

By |2019-08-27T23:40:39+08:00|News, Press Release for Condos, Real Estate|

Avenue South Residence offers the experience of a lifetime to its residents. The residential property was developed by the UOL Group, along with its sister companies, the Kheng Leong Company, and the United Industrial Corp.

The main site is exquisite and is just a short drive away from Outram Park Belt and Chinatown. This makes it even more appealing to residents and has especially left me impressed and excited about the residential development’s surrounds.

The location is perfectly thought out and is situated along Silat Avenue, which is directly connected to major roads, such as Jalan Bukit Merah and Kampong Bahru Road. The residential development is also surrounded by countless amenities, boasting with views of the heartlands’ estate, including Tiong Bahru and Telok Blangah.

Apart from its shopping facilities, the development itself has an incredible design and entertainment options that will blow your mind. These include the Clarke and Outram Shopping District, which are two of the most popular shopping destinations in Singapore.

What makes the condominium so special, is also the fact that the building itself is iconic and is a 99-year old development. It offers amazing views of the Southern Waterfront. If that isn’t enough, Avenue South Residence also offers incredible views of Orchard and the Ganges Roads. The area itself is considered one of the most prime in Singapore, with the buildings towering over the city’s other buildings.

Why Avenue South Residence Left Me Impressed

Singapore is well known and adored for its incredible buildings and developments, but Avenue South Residence particularly has something unique to offer.

It offers an experience of a lifetime. There’s an exclusivity about Avenue South Residence that just doesn’t compare to any other. With a tenure of only a year short of a century, its 245,975 square foot site area has plenty of excitement and expectation that awaits, to say the least.

The Experience Avenue South Residence has to Offer

The residential development also includes 1074 units and an impressive 56 stories, which only leaves one imagining about how good the view looks from the top.

The condominium units range from one-bedroom to five-bedroom apartments and are perfect for families of all sizes. One of the condo’s biggest attractions, is its simplicity, translating the idea of how incredible it is to live in this magnificent skyscraper-like building.

The units are strategically placed with efficient airflow and ventilation. It provides perfect views, which is designed to face landscaped gardens, along with the sea and unblocked vistas leading to the city.

Amenities surrounding the residential condominium development, furthermore, adds to its endearing popularity. It is located towards the end of the popular Jalan Bukit Merah Road, starting from Queensway and leading to Kampong Bahru Road. These roads include many well-known commercial and industrial buildings, such as Connection One and Rubicon offices, the public Bukit Merah Library, primary schools, and Bukit Meral Central.

Finally, what impressed me the most, is the development’s design. It includes roads and transportation services that will literally make your life easier, the best educational facilities for your children, and is located close to popular amenities such as the Orchard Shopping District, the Southern Waterfront District, and South Marina Bay.

Review of Avenue South Residence: Key Insights, Factsheet Summary, and Estimated Prices

By |2019-04-19T18:01:21+08:00|Condo Launch and Preview, News, Real Estate|

Review of Avenue South Residence: Key Insights, Factsheet Summary, and Estimated Prices

About Avenue South Residence

Avenue South Residence by UOL Group is a 99 years development by Singapore-listed UOL Group in a joint venture with sister companies, United Industrial Corp and Kheng Leong Company. The condo is situated in the Tanjong Pagar vicinity and the Mount Faber/Telok Blangah vicinity, and a short drive to Chinatown and Outram Park Belt.

Expected to launch Q3 2019, here are some important details we put together so you can get a quick look with concise information:

Factsheet Summary

Project Name Avenue South Residence
Address Silat Avenue
District 03
Tenure 99 Years
Developer UOL Group
Showflat Location Silat Avenue
Developer Sales Hotline [Send Enquiry]
Est. Indicative Price/PSF $2000-$2300
No. Of Units 1074

The extended factsheet can be found on the home page here.

To determine if Avenue South Residence is a buy, here are the key insights and considerations for your review:

Key Insights of Avenue South Residence:

  • Centralized Location and Minutes to CBD, Harbourfront, Central Business District and also South Marina Bay
  • Panoramic unblocked view towards Southern Waterfront District and City
  • Part of Greater Southern Waterfront URA Development Plans
  • Luxury Condo and Fitting
  • Outram MRT Interchange in just less than 15 minutes’ walk or 3 bus stops
  • 99-year leasehold mixed-use development
  • One of the tallest Condominiums in Singapore (Tentatively 56 storeys)

Avenue South Residence Location Overview

Estimated Price of Avenue South Residence

As with any real estate properties, a variety of factors will affect the PSFs and Price of Avenue South Residence.

The tender for Silat Avenue government land site closed on April 26 with a single bid from Singapore-listed UOL Group (Joint Venture). The bid closed at $1.035 billion, or $1,138 psf per plot ratio.

According to Ms. Tricia Song, head of research for Singapore at Colliers International, “Silat Avenue is an appealing site within two kilometers from the Central Business District, and we think the underwhelming tender outcome could be due to the large size of the site and relatively untested location, away from MRT stations”. She also estimated a breakeven price of S$1,600 psf and a selling Avenue South Residence price of between S$1,800 and S$1,900 psf.

Currently, the latest information from the developer has seen a higher tentative price psf of between $2000 – $2300. This could likely see a change on launch, and we will provide the most up-to-date prices on the announced unit mix in Q3.

To learn more, you can visit for more information.

Alternatively, keep in touch with us by sending an enquiry today.
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