Singapore property is often advertised as a safe-haven asset, in a low-tax environment. Coupled with a history of continued price appreciation, and a high-quality built environment, it’s no surprise that our real estate finds its way into many foreign portfolios.
If levies are raised for foreign labour, or quotas for foreign labour are tightened, this will affect the pool of available tenants. The impact will be more significant, compared to markets where locals can be relied upon for rental income.If your country has a Free Trade Agreement with Singapore, you may have a chance to get Additional Buyers Stamp Duty remission.
Also, note that many CCR properties are small units with a lower quantum but a higher price per square foot; this is to draw landlord buyers. The lower price and higher rental rate make for supposedly more attractive yields . However, this also comes with a downside: If an area is established as an expat enclave , there would almost certainly be various rental properties in the area already; and you can expect fiercer competition from surrounding projects.
As such, freehold often translates to lower rental yields for landlords, and lower overall gains if sold within a short period . From word on the ground, however, we can assure you that some tenants – wealthier foreigners included – do mind. Even if they can afford the transport, it’s an issue of convenience: not everyone likes waiting 45+ minutes for their food delivery to turn up, or having to drive out for every meal.
Source: News Formal (newsformal.com)
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