Property buyers all over the world are interested in buying Executive Condominiums in Singapore. Despite the COVID-19 situation, there is an increase in the purchase of condos in Singapore. There are many reasons behind this surge irrespective of Covid-19 disrupting the economy all over the globe. In here, we will see those reasons one by one. The condos in Singapore are sophisticated and offer a peaceful living facility. Properties like ParcGreenwichshowflat are considered as valuable assets by locals and foreigners alike. Read this post completely in order to know the various reasons that has resulted in the purchase surge of condos in Singapore.
Benefits of Buying Property in Singapore
The buyers can profit through buying the condos in various ways. The main reason for the purchase of condos lies in the increase of market value with time. If the location is a good one like ParcGreenwichShowflat nearby senkang district, then it is considered a great one to buy. As years pass by, the property will increase in its value and at times it can even skyrocket. Selling at that particular time can result in a huge profit. Also, even if one takes a loan, the property can be rented out to repay the loan. This is a huge advantage for people belonging to the middle class who dream about owning a private property.
Stable Economy of Singapore
The next reason why there is no reduction in the purchase of property is the stable economy offered by Singapore. It is considered to be the safest economy due to the rule of law. It is also considered to be hotspot for investments by foreign companies. Thus the Singapore economy is soon going to grow much more.Thus many wealthy people will be ready to buy property like ParcGreenwichin Singapore. World class infrastructure is a strong point that stands to benefit the buyers in Singapore.
Lower Tax Rates and Mortgage rates
There are some taxes like ABSD that a buyer has to pay while buying a property in Singapore. However, there are no other additional taxes that will empty your pocket. Also, the mortgage rates are lower than ever with rates 1.5% below per annum and will continue to fall. This has created a surge in the purchase of new condos. Comparing with the loan, the rent will be higher and the resale value will be even higher. This makes the purchase of condos an attractive opportunity for both middle class people and investors.
Better pricing for Condos in Singapore
Experts believe that the increase in purchase of condos is a result of better pricing. The value a condo offers is more and when it is affordable more people become interested. The total area of the condo is small but still the price is really good and affordable. If you are looking to buy a condo in Singapore, you can either look into local agents or websites. Websites offer some vital details about the property. For example, if you are looking to buy parc Greenwich property, then the website will show Parc Greenwich Price Listand the number of flats available.
Need for Spacious Homes
Everyone is saying indoors in this tough time of Covid-19. This has changed the mentality of people a lot in many subjects and one of them is spacious homes. As we have to stay inside the four walls most of the time, the need for more space with modern facilities has increased. Remote work trend is going to continue and increase which has resulted in buyers looking to buy condos in Singapore. The condos in Singapore like Parc GreenwichShowflathave been built with generous space and modern infrastructure. People have started valuing privacy more than ever in this Covid time.
Anxiety over New Cooling Measures
Each time a cooling measure is taken by the government, the stamp duty is seen to increase. Thus people are afraid of the upcoming cooling measures which will increase the stamp duty. This in turn will make the price of condo to skyrocket. Also, the economy is rebounding and is sure to pick up. This is another reason why there is a surge in purchase of property like condo. The buyers want to make the purchase when the cost is still low and affordable.
Other Reasons for Surge in Condo Purchase
We have gone over many reasons in the above paragraphs for the surge in purchase of Singaporean Condos. Other reasons include that many wealthy buyers whose financial position was not affected by covid find it desirable. They want to make the purchase when the market rate is lower when compared to other times. The main elements that have resulted in the purchase surge are the correct pricing, safety of a diversified market and great locations. Thus we have listed out the important reasons which has caused a surge in property buying in Singapore.
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