Singapore is a relatively young nation, gaining independence only in 1965, with hardly any resources; the pioneers had built Singapore to what it is today and fast track to 53 years later, Singapore is one of the wealthiest nations in the world and is infamously one of the most expensive countries to live in too. Singapore also boast to have one of the most expensive real estate market in the world, though we are markedly behind Hongkong, who is still the title holder for having the most expensive real estate in the world.
Singapore real estate is a relatively safe game for most investors and it will continue to be for the reasons below:
1) Singapore has very good fundamentals building blocks that support its economy and propelled it to the world stage as a financial hub. Corruption level is very low in Singapore, and with high transparency, a pro-business government and favourable tax rate, it attracts MNCs from overseas to set up regional bases here, and with businesses, comes employment for its citizens. This has also attracted significant number of foreigners coming to Singapore to work.
2) Singapore is a very politically stable country, with the People’s Action Party being at helm almost since independence, and therefore one can hardly find a wild swing in policy making.
3) Singapore is a small country, with limited land and in this aspect, there is a striking similarity to Hongkong.
4) Astute and prudent monetary policies by the Monetary Authority Of Singapore.
There are many more reasons that contributed to the sustainability and the continued impressive performance of the Singapore real estate, but those mentioned are probably the mains.
Investors locally or overseas might be interested to explore Jade Scape Shunfu, which is a new condominium development by Qingjian Realty, an internationally renowned property developer. Jade Scape is a huge project, with a total of 1,206 units, and sitting on a land size of 408,927 sqft, it is a rare piece of gem as there haven’t been many new condominiums in this area for a long time. Jade Scape is a 99 year leasehold development, and is the former Shunfu Ville, a privatised HUDC, bought over by the developer via a collective sale in 2016.
One of the most notable selling points of this project is that Marymount MRT (Circle Line) is only 200m away, and that the future Upper Thomson MRT (Completes in 2020) under the Thomson East Coast Line is only about 600m away. The services of two MRT Lines boost the transport infrastructure in this area and it is no wonder that Jade Scape will become a prized commodity now and into the future. With the wealth of experience that Qingjian Realty has, consumers can be assured that Jade Scape floor plan will be efficient to cater to various buyer’s demographics and Jade Scape condo price will be reasonable, estimated to be about $1,700 psf to $1,750 psf on average.
For more information, visit: https://www.jadescape-marymount.com.