Enhancing Urban Living The Advantages of Service Apartments for Extended Stays
Due to its limited land availability, Singapore faces high demand for condos, especially in urban living areas. As a small island nation with a growing population, the government has implemented strict land use policies, resulting in a competitive real estate market and consistently rising property prices. Therefore, investing in real estate, particularly in condos, has become a lucrative venture due to the promise of capital appreciation in Singapore.
It is crucial for non-local investors to familiarize themselves with the guidelines and limitations surrounding property ownership in Singapore. The regulations for purchasing condominiums are not as stringent compared to those for landed properties. Nevertheless, foreigners are still subject to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property acquisition. Despite the added expenses, many are drawn to the Singapore property market due to its stability and potential for growth. To avoid penalties and guarantee a …