Debunking the Myth - Can Singaporeans buy Overseas Property?

Debunking the Myth - Can Singaporeans buy Overseas Property?

I have come across this question several times during my time as a real estate consultant. I would like to take this opportunity to clarify that there is no restrictions for Singaporeans to own or invest in Overseas Property. Overseas Property is treated like Private Property in Singapore apart from that Overseas Property are not counted as part of "additional property" during the computation of Additional Buyer Stamp Duty.

For example, if you (Singapore Citizen) own 2 property in Singapore and would like to go for a 3rd property in Singapore. You are liable to pay the standard 3% (less off S$5,400) + 10% Additional Buyer Stamp Duty. But instead if you opt to invest in Overseas Property, you are not liable to pay any ABSD, instead you are only liable to pay the taxes (if applicable) in the respective country. The reverse is true as well. Lets say, if you own a property in Singapore as well as an Overseas Property, and you are intending to buy another property in Singapore, you are only liable to pay the standard 3% (less off S$5,400) + 7% Additional Buyer Stamp Duty = treated as 2nd property.
However, do take note for those who own a HDB, as Overseas Property is treated as Private Property, you will need to fulfill the Minimum MOP Period (5 years) before you can invest in Overseas Property.

There are many reasons why Singaporeans are looking to invest in Overseas Property. One of the most notable reasons is because of the potential return that comes with it. Imagine if you have invested in Singapore Property 20-30 years back where Singapore is still an emerging country but growing fast.  You would have earned a very decent rental income and if you have sold off which most people would have, you would have probably make a few times of what you have invested initially. This is the same opportunity that is happening to some of neighbouring countries like Bangkok, Cambodia and Vietnam where they are experiencing very high growth.

Nevertheless, there are also inherent risks that comes with Investing in Overseas Property and if you are looking to invest in Overseas Property - it would be good to take some time to read our article on "Should you be investing in Overseas Property" where we will be sharing some of the factors/things you should look out for.

Like our post at https://investintproperty.com/can-singaporean-buy-overseas-property/

Cambodia Property Tax

Cambodia Property Tax

Cambodia has undergo drastic changes from an underdeveloped nation to a widely urbanized Kingdom with massive developments and improvements in Manufacturing, Real Estate, Tourism, Banking and Agriculture sectors. In fact, Cambodia has one of the fastest GDP growth in South-East Asia averaging 7% per year, and tourism has also hit record high of around 5 million tourists for the first 10 months of 2017, a 10 percent increase in foreign visitors from the same period in 2016 with tourists mainly from Asian countries.

Cambodia also has close ties with China and will be part of China's One Belt One Road Initiative that will bring in massive investments into improving its infrastructure and aids in its vision to becoming a middle-income country by 2030.

In terms of its property market, Cambodia has been hailed as one of South East East best property investment destinations. It is supported by Strong Economic Growth, Increasing Local and Foreign Direct Investments (FDI), a Rising Middle Class, Abundant of Strong and Young Workforce and Political Stability. The Cambodia property market demand and price has undoubtedly picked up strongly. Yet the Cambodia Property Tax still remains low and this creates a window of opportunity for investors who are looking for first mover advantage with High Capital Growth and Rental Yield. Foreigners are allowed to own properties in Cambodia on Freehold Basis and up to a max cap of 70% quota of any Condominium Developments.

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Overview of Cambodia Property Tax

We will be looking at some of the property taxes that investors are liable to pay when they invest in Cambodia Property.

To be continued at https://investintproperty.com/cambodia-property-tax/. Do like our post :)

Buying Property in Cambodia

Buying Property in Cambodia

Cambodia has been hailed as one of South East East best property investment destinations. It is supported by Strong Economic Growth (averaging 7% for the past decade), Increasing Local and Foreign Direct Investments (FDI), Booming Tourism (record high tourists in 2017), a Rising Middle Class, Abundant of Strong and Young Workforce and Political Stability. The Cambodia property market demand and price has undoubtedly picked up strongly. Future Growth looks extremely positive as it is part of China's One Belt One Road Initiative that will see massive investments into its infrastructure and aid in its vision to becoming Middle- Income Country by 2030.

The Property Market has generated much interest and ever since the new housing law (in April 2010) was introduced, Foreigners are now allowed to own properties in Cambodia on Freehold Basis and up to a max cap of 70% quota of any Condominium Developments. Foreigners are not allowed to own Land outright in Cambodia unless it is a joint venture with their local partners.

Cambodia Property Tax on the other hand has remained low which opens up a window of opportunity for investors looking for High Capital Growth and Rental Yield.

Here is a Guide on Buying Property in Cambodia; to be continued at https://investintproperty.com/buying-property-in-cambodia/

Can Foreigners buy Property in Cambodia?

Can Foreigners buy Property in Cambodia

Cambodia has been hailed as one of South East East best property investment destinations. It is supported by Strong Economic Growth (averaging 7% for the past decade), Increasing Local and Foreign Direct Investments (FDI), Booming Tourism (record high tourists in 2017), a Rising Middle Class, Abundant of Strong and Young Workforce and Political Stability. The Cambodia property market demand and price has undoubtedly picked up strongly. Future Growth looks extremely positive as it is part of China's One Belt One Road Initiative that will see massive investments into its infrastructure and aid in its vision to becoming Middle- Income Country by 2030.

The Property Market has generated much interest with Local and Foreign Developers competing for a slice of the growing property market. Singapore Listed Property Developer Oxley Holdings has also entered into the fray. Their first mixed development in Phnom Penh City Centre - The Bridge Cambodia is almost fully sold and is slated to be completed by early 2018. 

The Main Question is: Can Foreigners buy Property in Cambodia?

Good News for Foreigners - with the new housing law with effective from April 2010, Foreigners are now allowed to own properties in Cambodia on Freehold Basis and up to a max cap of 70% quota of any Condominium Developments. It is rare that foreigners can own freehold properties which is one of the main reason that we see an increasing number of foreigners investing in Cambodia. Just to take note at this point in time - Foreigners are still not allowed to own Land outright or units on the ground floor in Cambodia unless it is a joint venture with the local partners.

Cambodia Property Tax has remained low and this opens up a window of opportunity for investors looking for High Capital Growth and Rental Yield.

Find out more on THE BRIDGE RETAIL MALL @PHNOM PENH and THE PEAK SHANGRI-LA HOTEL @PHNOM PENH

Like our post @ https://investintproperty.com/can-foreigners-buy-property-in-cambodia/

Can HDB Owners buy Overseas Property

Can HDB Owners buy Overseas Property

Ever since the cooling measures (TDSR, ABSD, SSD) were implemented in 2013, many Singaporean and PR’s investors have looked at properties outside of Singapore for more affordable options and potentially higher rate of return. In one of the article in Business Times (30th Jan 2018), it was noted that Singapore outbound property investment hit a record high in 2017 at US$28.4 million which is at whopping 40% higher than US$20.4 million in 2016.
One of most common question that is always being asked is, “Can HDB Owners buy Overseas Property?”

Below is the general rule for Singaporean and Singapore Permanent Resident who own HDB and wish to invest in overseas property;

1. You are allowed to invest in overseas residential property if you have fulfilled your Minimum Occupation Period (MOP)
2. You are allowed to invest in overseas non-residential (commercial and industrial) property even if you haven’t fulfilled your Minimum Occupation Period (MOP)
3. You must dispose of your overseas residential property within 6 months after you purchase your HDB

For more information about your eligibility you can contact HDB at http://www.hdb.gov.sg/cs/infoweb/contact-us

Like our post at https://investintproperty.com/can-hdb-owners-buy-overseas-property/

The Verandah Residences

The Verandah Residences will be developed by Oxley Amber Pte. Ltd. which is a wholly-owned subsidiary under Oxley Holdings. It is located at former Redwood West site along the Pasir Panjang Road. It will be a freehold development with 170 units (estimated). Some communal facilities will be provided to all resident. Unit types, site plans, floor plans will be announced in near future.

The Verandah Residences @231 Pasir Panjang Road is strategically located between Haw Par Villa MRT and Pasir Panjang MRT along the Circle Line. There are also direct buses services to CBD (Central Business District), Jurong East Second CBD, Shenton Way CBD, Vivocity & Orchard Road etc. Besides that, it is within a minute to West Coast Highway which can e connected to major expressways like AYE (Ayer-Rajah Expressway), MCE (Marina Coastal Exressway) and CTE (Central Expressway).

More information at https://investintproperty.com/properties/the-verandah-residences/

The PEAK Retail Mall in Phnom Penh City Centre- Launching Soon

The Peak Retail Mall consists of 5 levels of Retail Space Launching Soon. Rising 55 storeys into the sky, The Peak Cambodia is an oasis of luxury in the cloud. A whole new level of living comes into being as the choicest picks of residences, shops, restaurants, offices and the Prestigious Shangri-La Hotel comes together in an integrated mixed-use development like no other. Sharing the same desired address as the Shangri-La Hotel is a mark of distinction, and all its classy restaurants, bars and ballrooms are all at your disposal. The One and Only in Cambodia.

The Peak Cambodia comes clad in stylish bronze, a definite colour of luxury. The 2 towers comprising of about 500 units each are paragons of dynamic architecture, specially crafted to bring out the finest of the site and its surrounds.The Peak sharing the same desired address as Shangri-La hotel is a mark of glamorous luxury. And with luxurious Shangri-la Hotel just next door, you will enjoy world class service amidst tranquil surroundings, coupled with inspirational architecture and design. From the Finest dining to business lounges and spa experiences, it will ensure that every palate is pampered.

Right in the heart of Phnom Penh City, The Peak faces the River Esplanade, standing at the crossroads of the city. Time is precious, so is the location, for a 'mere' minutes walk is all that is needed to get to AEON Mall and NagaWorld Casio, as well as the National Assembly building, the Ministry of Foreign Affairs and the Australian Embassy. The Independence Monument and the main Preah Sihanouk Boulevard are also a short drive away.

The PEAK Retail Mall Floor Plan, The PEAK Retail Mall Price List available soon.

More information at https://investintproperty.com/properties/thepeak-retailmall/

Woodleigh Lane Condo by CEL - Coming Soon!

Woodleigh Lane Condo is an upcoming Condominium in District 13, Singapore by CEL Unique Development Pte. Ltd.  It is right next to Woodleigh MRT station (NEL) and is connected to the whole of Singapore Island via Central Expressway (CTE). This plot of land is also adjacent to Bidadari New Town and near to amenities such as Nex shopping mall, The Venue and upcoming Mixed Development by SPH and Kajima and popular schools like Maris Stella High, St. Andrew’s Secondary School, Cedar Girls School and Stamford American International School.

Woodleigh Lane Condo consists of 735 units (1-5 bedrooms) with full condominium facilities. Expected to Launch in 2Q 2018, Woodleigh Lane would be one of the most sought-after development in Singapore by investors and home seekers given its location just next to MRT Station and the rejuvenation of Bidadari New Town.

Woodleigh Lane Condo Floor Plan, Woodleigh Lane Condo Price List available soon

More information at: https://investintproperty.com/properties/woodleighlane-condo/

JPark @Flora Drive Coming Soon!

JPark Condo is an upcoming Condominium along Flora Drive, District 18, Singapore. It is a beautifully laid out residential development that comes loaded with all kinds of modern facilities. It consists of 9 blocks of 8-storey Residential building (Total 429 units) and 1 block of Clubhouse with basement carpark, swimming pool and tennis court. JPark will be developed by Top developers in Singapore, Hong Leong Holdings  which promise the assurance of a quality homes for both personal stay and investments. 

Strategically located along Flora Drive -one of the most coveted residential spaces in Singapore, the premium condominium project enjoys a prime location as it is situated at the intersection of the Upper Changi Road and Flora Road which is just a short distance away from major shopping malls (Tampines Mall, upcoming Jewel at Changi Airport) and MRT Stations. 

JPark Flora Drive will be an incredible place for a family to enjoy a peaceful life with all the modern amenities. There is so much on offer. You do not just get a space to stay; you get the complete living experience. 

JPark Floor Plan, JPark Price List available soon

More information at https://investintproperty.com/properties/jparkfloradrive/

Parc Botannia - Limited 3 units of 1 Bedroom!! From only S$612,000

Parc Botannia is an exciting development by a joint venture between Wee Hor and Sing Holdings. In the joint venture, Wee Hur being an established contractor builder and Sing Holdings being a developer, they have set forth a high standard of living for quality built.

​Parc Botannia @ Fernvale location is well located next to the Thanggam LRT station, which is 1 LRT stop to The Seletar Mall, 3 LRT stops to the upcoming Sengkang Community Hospital and 4 LRT stops to Compass One. With the opening of Fernvale Street, which connects Fernvale Road and Jalan kayu, this development is conveniently located with hippy cafes and famous Singapore food along Jalan kayu. Amenities, Supermarkets and eateries are aplenty around the development.

​Parc Botannia has a total of 753 units in 4 tower blocks, 22 storey high. All unit comes with quality furnishes and well planned out facility on the development. This development is set to make a storm in the Singapore Residential market with High Park Residences with more than 1000 units sold during Preview Launch. Stay Tuned for more Updates!

Parc Botannia Floor Plan, Parc Botannia Price List available here!

More information at https://investintproperty.com/properties/parc-botannia

New Futura by CDL in Prime District 9 minutes walk to Orchard Shopping Belt

Just a short stroll from Orchard Road, one of the world’s most famous shopping streets is New Futura, an ultra-luxurious home like no other. Created to the exacting standards of City Developments Limited (CDL) and designed by award-winning architects, Skidmore, Owings and Merrill LLP (SOM), New Futura’s sweeping curves wrap elegantly and raise the iconic twin 36-storey towers to rightfully take its place as a timeless landmark of Singapore. New Futura isn’t merely a trophy home, but a crown jewel in your family portfolio. It’s a privilege reserved for only 124 owners to savour, share and gift for generations to come.

At New Futura, details matter. That’s why you’ll find over 250 parking lots in the basement, with some designed extra wide to accommodate supercars and coupés. Located on the multi-tiered lush tropical landscaped gardens, is an infinity lap pool, aqua beds and the aptly named Club Futura. This exclusive clubhouse provides cool respite in the day and transforms into a private dining venue at night. To complement life at New Futura, you’ll find the hospitality-trained hosts of our Signature Residential Services* who are dedicated to pamper and provide to your needs.

The doors of your private lift open and lead you into a generously sized living and dining room with a spacious balcony. You’ll discover elegant fine marble flooring in every home and double volume ceilings in selected units that expand and heighten your living experience. Depending on your lifestyle, you can choose from a range of 2-, 3- and 4- bedroom apartments. For those who dream of owning a bungalow-in-the-sky, you can luxuriate in a double-storey super penthouse replete with your own private swimming pool.

New Futura Floor Plan available here!

More information at https://investintproperty.com/properties/new-futura

#investintproperty #newfutura

Carpmael 38 Freehold Residential Development in D15 from only S$16xx psf

Carpmael 38 @ Carpmael Road is an upcoming Freehold Residential Development by eminent developer, the Lim Wen Heng Construction Private Limited in District 15, Singapore. Carpmael 38 is nestled within the tranquility of 38 Carpmael Road close to the Paya Lebar Quarter/MRT Station and is strategically located and conveniently accessed through the East Coast Parkway (ECP), Pan Island Expressway (PIE), and a few minutes’ walk from the Paya Lebar MRT Station. Enclosed by the ideal location of low density residential regions, the large units of the superb Carpmael 38 Condominium is made for idyllic homes that are extremely wanted after.

​A uniquely well thought-out swimming pool which is spacious enough and comes with safe areas for children, an all-inclusive health indoor gym that will serve the community with various work out machines to cater for all your gym needs, an open space tennis Court, Children-friendly Playing Ground with an area and seats for parents to relax and monitor their children and a community BBQ area, where you can hold private parties or just unwind during the weekend as you connect with other people. There is also dedicated ample parking bays for you and your visitors.

Carpmael 38 Floor Plan available here!

More information at https://investintproperty.com/properties/38-carpmael

Cambodia plans to build one of the world's biggest airports!

"PHNOM PENH • The Cambodian government has approved plans to build one of the world's largest airports in south-eastern Kandal province, although the key players have yet to work out the details.

The Phnom Penh Post on Monday reported the plans, citing a document from the Council of Ministers, dated Dec 21. The document approved an investment proposal from Cambodia Airport Investment to build a US$1.5 billion (S$2 billion), 2,600ha airport in Kandal province's Kandal Steung district, about 30km south of Phnom Penh.

Cambodia Airport Investment is a joint venture between local conglomerate Overseas Cambodia Investment Corporation (OCIC) and the Cambodian government's State Secretariat of Civil Aviation (SSCA), according to the document."

Full Article at: http://www.straitstimes.com/…/cambodia-plans-to-build-one-o…

Will you regret not investing in Cambodia 10 years later?

Invest in The PEAK Retail Mall and The PEAK Residential from US$2xxk!

More information at https://investintproperty.com/properties/thepeakcambodia/
and https://investintproperty.com/properties/thepeak-retailmall/

Regional investors and developers opt for Cambodia!!

"Without a doubt, Cambodia has experienced rapid economic and real estate growth over the preceding years.

With foreign direct investment (FDI) flooding into the country – promoting the swift development of core industries such as tourism, real estate and construction – Cambodia has been seen by many as a development frontier in Southeast Asia.

This potential has been realised – in particular by international developers and investors alike who have considered neighbouring Association of Southeast Asian Nations (Asean) countries such as Thailand and Vietnam before making the investment plunge into Cambodia’s real estate market."

"“For investors, it is a good idea to invest in less developed markets – such as Cambodia for high returns on investment – even though it may seem less secure due to the market still developing."

More information at http://www.khmertimeskh.com/…/regional-investors-developer…/

Investment Opportunities in Cambodia!

1) The Bridge Retail Mall with 70% Guaranteed Rental Return over 10 years 

2) The PEAK Cambodia Residential integrated with Shangri-La Hotel

3) The PEAK Retail Mall Coming Soon!

#investintproperty #thebridgeretailmall #thepeakcambodia

FOREIGN demand is expected to return to the Singapore residential property market this year.

According to an recent article in The Business Times (22nd Jan 2018) - it was noted that Bank of Singapore (BOS) believes that FOREIGN demand is expected to return to the Singapore residential property market this year.
This was explained through several reasons as of following;

• Price recovery (The Singapore housing sector has recently rebounded after home prices fell 12 per cent from the last peak in 2013)
• Better leasing environment (due to lower supply of residential in the market in 2018-2020 where vacancy are expected to drop and drive a rebound in rentals)
• Home prices have fallen to a sweet spot after four years of decline to render the market more affordable compared to other global cities
• Tightening of residential buying regulations in other countries

More information at https://investintproperty.com/foreign-interest-are-expecte…/

New Singapore Condominiums Launching in 2018

New Singapore Condominiums Launching in 2018

New Singapore Condominiums Launching in 2018 List Updated as of 17/01/2018.

Ever since the cooling measures (TDSR and ASBD) was introduced back in 2013, Singapore property prices has on the decline. Till recently, based on the statistics from URA, private residential homes prices rose 0.7 percent back to back in Q3 and Q4 2017. For the whole of 2017, prices appreciated 1 per cent, in contrast to the 3.1 per cent decline in 2016.

2018 is looking like the year that the Singapore property market’s long-awaited turnaround finally gains traction. Property analysts are forecasting a 8-10% increase in the property prices in 2018 given the pent-up demand, Enbloc Sales resulting in new demand, Aggressive bidding of Government Land Sales (GLS) and limited existing supply in the market.

Nevertheless, we will also see a number of new condominium developments coming up for launch in 2018 from GLS and Enbloc Sales.

So here, we will compile a list of New Singapore Condominiums launching in 2018. Do note that: This is only an estimation based on the timing of the sale of the site subject to changes/confirmation. Some of the developments are still pending for the official name. For those cases from en-bloc sales, we will temporary use the former project names, or address of site for government land sales (GLS).

This post will be updated as and when new information is available. Please Kindly bookmarked it or  WhatsApp Us to register interest, so we can update you on the property market in a timely manner.

For the full list please click on the following; https://investintproperty.com/newsingaporecondominiums-launching-in-2018/

From the list, we can see that the upcoming developments are mainly spread around Central, Eastern and North Eastern part of Singapore. A number of them can be found along the North East (purple) MRT line such as Woodleigh development, ex-Serangoon Ville, ex-Raintree Gardens development, ex-Rio Casa etc.

The J Park at Flora Drive is the furthest to the east, while Twin View is the furthest to the west development as of currently. There is nothing expected to be coming up at the North (Woodlands, Yishun, Sembawang etc) or West (Jurong). If you’re looking for new condo at North, you can consider Kandis Residences @Sembawang. For West side, there are Lake Grande @Lakeside, Trilinq & The Clement Canopy @Clementi which are left with very limited units. 

BEST SELLING OVERSEAS PROJECTS IN 2017

SUMMARY OF THE BEST SELLING OVERSEAS PROJECTS IN 2017

2017 has been an exciting year for Overseas Projects as we seen an increasing number of investors looking at overseas property in view of the potential higher return on investments. Cambodia, Bangkok, Vietnam has generate much interest from investors given the potential high rental yield and capital appreciation in view of the High GDP Growth. Whereas Australia and London offers an unique opportunity for stable investments and/or for children’s education purpose. Singapore Developers have also ventured into some of the markets mentioned above. You might still be wondering in that case - where and which country/projects would give you the best returns on investment. Let us take a look at the TOP 10 Best Selling Overseas Projects in 2017!

For the full list; Please click on the following https://investintproperty.com/best-selling-overseas-project-in-2017/

Rivercove Residences EC Coming Soon

Launching tentatively in Mar 2018, Rivercove Residences is a brand new EC nestled*in Anchorvale Lane. The large 226,000 square feet land is expected to house 628 residential units with full condominium facilities and parking space for residents. Jointly developed by Hoi Hup Realty and Sunway Developments, Rivercove Residences is surrounded by good educational institutions including Nan Chiau Priamry School, Nan Chiau High School, Springdale Primary School, and Anchor Green Primary School.

Residents at Rivercove Residences will be able to enjoy the convenience and the excitement the place can offer. The development is only a few minutes’ walk to Compass One, where residents can shop for daily groceries, electronics, fashionable clothes and more. It is also located very near to Sengkang Sports Complex and Sengkang Hockey Stadium, where residents and their families can access to a wide range of sports facilities such as swimming pools, badminton courts, soccer fields and many more. Water sports enthusiasts will also enjoy the range of aquatic activities ranging from water skiing to canoeing in the Sports and Recreation Centre.

Hundred Palms Residences EC same developer as Rivercove Residences broke the fastest sales record with 100% sold out in 7 hours. *The main reason is due to the low*supply of Government Land Sales*for the Executive Condominium while the demand for such is creeping up.

Rivercove Residences EC Floor Plan available soon

More information at https://investintproperty.com/properties/rivercove-residences/

70@Truro condo is the latest FREEHOLD Residential Condominium. 2 Bedroom Freehold Less than S$1M

70@Truro condo is the latest FREEHOLD Residential Condominium at 70 Truro Road for Sale in District 8, Singapore. Developed by Singlap Co Pte Ltd, one of the largest real estate developer group in Singapore, 70 @Truro is just 8 minutes walk to both Farrer Park MRT and United Square. 

Featuring only 24 Exclusive Apartments ranging from 2 to 3 bedroom units and penthouses, 70 @Truro is only for the Privileged few.

70@Truro Floor Plan available soon!

More information at https://investintproperty.com/properties/70-truro/

Margaret Ville Condo Margaret Drive by MCL Coming Soon!

Margaret Ville Condo is nestled within an established residential enclave near the Commonwealth MRT station. It is close to the Ayer Rajah Expressway, with nearby retail and dining options at the Dempsey Cluster, Queensway Shopping Centre, Ikea Alexandra and Alexandra Central. There are also public amenities and schools in close proximity.

Given that it is just a few stops to the CBD and is also near the Buona Vista area/Harbourfront Area, which is a strong rental catchment area, Margaret Ville Condo is expected to generate high interest from both the Investors and Home Owners who wants to live closer to the City.

Margaret Ville Condo Floor Plan available soon!

More information at https://investintproperty.com/properties/margaretville-condo