By: Deborah Law, Executive Director, Expat Realtor
In 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.
Check out Expat Realtor’s selection of hot properties below – with all the photos appearing in the gallery above. For more properties, head here, and for viewings, email firstname.lastname@example.org or call 6255 1027.
Size: 1,770 sq. ft
Bedrooms: 3 + 1
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.
Size: 1,300 sq. ft
With scenic views from the living room and the balcony, this sixth-floor unit is sought after for its location in a quiet and exclusive neighbourhood near Stevens and Orchard Road. The apartment has three good-sized bedrooms and three bathrooms, a large kitchen, a helper’s room and plenty of extra storage cabinets.
Close to the Botanic Gardens, the American Club, the Overseas Family School and Tanglin Trust School, this condo is very popular among families. A Cold Storage supermarket, a McDonald’s, a Subway and Al Borgo Pizzeria are all within a two-minute walk.
Size: 2,045 sq. ft
Beautifully renovated by the owners, this ground-floor, two-storey maisonette has everything: a small front garden and patio, the master bedroom upstairs, two bedrooms and a storeroom on the ground floor, as well as a large under-stairs storage area. Conveniently located at Lorong Chuan, the condo is a walk from the Australian International School and a three-minute walk from the nearest MRT station. Facilities include a convenience store and a restaurant.
Rarity at Ridgewood
Size: 2800 sq. ft
Type: Semi-detached townhouse
This renovated home in the Mount Sinai area offers the best of both worlds: a townhouse with your own driveway and a back garden patio area, plus access to full condo facilities.
Apart from a spacious, open-plan kitchen, lounge and dining area towards the back of the house, the front has a large family lounge area. The master bedroom has been renovated to include a walk-in wardrobe and a bathroom.
Ridgewood Condo is popular among expats for its pool, gym, tennis and squash courts, minimarts, restaurants and other facilities. Feeder buses take you to Holland Village and Orchard, while it’s a five-minute walk to Nexus International School. For grocery shopping, Jelita Cold Storage supermarket and Ghim Moh market are close by.
Size: 7,000 sq. ft land, 4,000 sq. ft built
Type: Landed bungalow
This family bungalow is located on a quiet road near Jelita Cold Storage supermarket and looks onto a park with a children’s playground. It’s close to several international schools and Holland Village. A front patio overlooks the small pool deck and front garden, leading into the large, open lounge and dining areas. On the right is a study or guest bedroom, and on the left a guest bathroom, a dining area and a kitchen with a breakfast area. With plenty of windows and patio doors, this house is bright and spacious. The three bedrooms upstairs include a huge master bedroom with ensuite bath and shower, and two other bedrooms attached to a Jack and Jill bathroom.
This story first appeared in Expat Living’s June 2015 issue.