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ON THE MARKET
June15
DEBORAH LAW
Executive Director,
Expat Realtor
MARKET
UPDATE
I
n search of higher yields and lower prices, many buyers are now looking at overseas
properties, and yet there have been more cases of Singaporeans losing large sums of
money over dodgy overseas transactions. Unfamiliar foreign markets also hold high risks;
for example, a developing country might change the rules and restrict foreign investment
without notice. If that happened, would you be able to sell the property and get your money out?
Here are some other questions worth considering: does the developer have a good
reputation and the financial strength for the project you’re interested in? Does the infrastructure
support the brand-new state-of-the-art building? Also, is the property correctly valued?
Remember to check out the stamp duties, legal fees and property gain taxes involved,
and know who to pursue if the development doesn’t have a valid presence in Singapore. If in
doubt – don’t. Staying with the tried-and-tested countries will limit your risk, as will doing your
research and not succumbing to the selling agent’s high-pressure tactics. All developments
have units that are better and worse, so do make sure you’re buying one that will have a
good resale appeal.
On the local front, sales are still depressed, with investors not stepping in just yet, and rentals
are seeing a decline from a lower number of expatriates and a higher supply of properties.
This ground-floor corner patio
apartment has been fitted out to
ensure all needs are met. With
ample storage, a perfect ambience
for entertaining and good-sized
rooms, this is a prime unit at
Savannah Condo Park.
The patio is approximately 500
square feet, but it doesn’t steal too
much size from the unit, and there
is an additional outdoor space. This
popular condo enjoys full facilities,
including a bowling alley, making it
ideal for families. It’s located near
Changi Airport, Changi Business
Park, One World International
School and United World College.
There’s a shuttle bus service to
Simei MRT every 20 minutes and
the various highways are easy to
access, too. Nearby shopping malls
include Eastpoint Mall, Changi City
Point and Tampines.
Patio Perfection
$1,490,000 SALE
$4,300 RENT
Size: 1,770 sq. ft
Bedrooms: 3 + 1
Type: Condominium
District: 18