ORCHARD ROAD PROPERTIES
Investing in Real Estate | Singapore
The Orchard Road District (District 9) is one of the oldest and most popular housing districts in Singapore. It has some of the most prestigious homes and shops along Orchard Road - Singapore-most-famous Shopping Street. The area has a high concentration of Good Class Bungalows (GCBs), detached & semi-detached landed homes, high-end condominiums and apartments. Many of the most expensive luxury homes that are built in this area are new and highly-sought-after by the Rich & Famous from around the world.
Orchard Road, one of the oldest & most famous streets in the world, is so named after the orchard which was filled with fruit-producing farms in the area. In the early days, wealthy Chinese merchants did trading and business in the area; and also built their houses around Cairnhill and Emerald Hill. Traders from the West also built their residences around Tanglin and Orchard Road. This area is now one of the most expensive real estates in the world.
In Singapore, real estate is a major asset class that is popular, and is available to most Singapore citizens and foreigners. Under the FTA, citizens of Switzerland, USA, Liechtenstein, Iceland and Norway enjoy similar Seller's Stamp Duty / Buyer's Stamp Duty treatments as Singaporeans when purchasing real estate).
Foreigners are able to purchase condominiums with little restrictions, and landed houses (with approval from LDAU) at Sentosa Cove only. Most other landed properties are not available for purchase by foreigners. Foreigners are able to purchase industrial and commercial properties in Singapore with little restrictions and tax impact.
Laws and regulations pertaining to real estate transactions are constantly changing (often within months), and can often have great monetary impact on a Buyer or Seller. The government agency, Singapore Land Authority (SLA), controls the supply of land for property development by developers.
As real estate is real property and has a higher price/investment entry level, it is important that the investor is well-equipped with the necessary market, financial, and legal knowledge for asset protection, and avoid complications which may be result in penalties. It is therefore advisable that a real estate investor seeks professional legal advice, financial advice, and the professional services of a licensed real estate sales person prior to a real estate transaction in Singapore. Only CEA-registered real estate agents / brokers are legally authorized to do property transactions.
Most savvy & accredited investors invest in high-end residential, commercial or industrial properties for inflation-hedging, income-generation, and potential asset appreciation.
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