Singapore’s economy is notably among the strongest ones. In 2017, the Heritage Foundation’s Index of Economic Freedom put Singapore in the second place of countries with the most open economy. In the World Bank’s Doing Business report, Singapore is also awarded second place in the category of the world’s most pro-business regimes. If you invest in real estate there, it will surely be profitable.
However, Singapore is already a crowded country. And the best option for a property that you can get is condos. Check Clavon for a quick look at the condo living there.
Now, let’s explore other reasons in detail.
Singapore Is One of the Safest Countries
The crime rate in Singapore is very low. According to Statista, there were only 582 crimes per 100,000 populations in 2017. And Singapore was also the second safest nation in 2019. If you live there, you won’t need to worry about robberies, gun assaults, or even terrorism. As reported by Straits Times, terrorist threats in Singapore are still high in 2019, but there have not been any successful attacks, and only one in five cases is imminent.
Besides, when it comes to condo living, the by-laws are quite specific. As ruled by the Building Maintenance and Strata Management Act (BMSMA), anyone in the condo is prohibited from causing public disturbances, unlawful conduct, property trespass, and unauthorized ownership of pets. A calm life in condos is guaranteed.
Singapore Has Good Infrastructure
If you’ve never been to Southeast Asia, you may doubt the infrastructure in Singapore. But I can assure you that all the roads are well-marked there. And you can go anywhere in Singapore with public transportation means, like LRT, MRT, and buses. Also, you don’t need to worry about getting lost there because all the signs are in English.
Singapore Doesn’t Tolerate Corruption
Striking a property deal can be a shady business, especially when there are no clear regulations regarding the conduct. In Singapore, the policies don’t tolerate corruption. There will be very little to no spending gets lost in the government system. If you buy a condo in Singapore, all the expenses stay the same since the very beginning you see them. There won’t be any hidden taxes or fees later on.
Singapore Has High Standards of Property Development
Urban planning in Singapore is monitored by the Urban Redevelopment Authority of Singapore. From condos, subsidized houses, to the skyline offices and malls, all of them are built with careful calculation. The building quality is second to none. And that is why you can’t find any cases of building structural collapse in Singapore.
Before you embark on researching for the perfect condo, the first step should be identifying the kind of unit that you want. It is essential to understand that we have low-rise and high-rise condos. Make sure that you purchase or choose the right condo-unit depending on the type of family that you have. For instance, if you would be living with your parents and grandparents, ensure that you choose low-rise condos.