- The property act in Singapore is enforced so well that it ranks 19th in registering property and 2nd position enforcing contracts.
- In case if you didn’t know earlier, the majority part of the property act is enforced in such a way that it favors the owners of the property. Surprising right? Most of the acts that govern property law across the globe are designed in such a way that they help the buyers, but the property law in Singapore differs there. They stand in favor of the owners of the property, even in case you are renting out a property.
- If you are a foreigner, you have to abide by certain rules and regulation such as a foreigner is not supposed to buy a property that belongs to the public development housing. A foreigner can invest only in private housing corporations. However, the number of apartments that you purchase in a building is restricted as per the prescribed terms. This simply means that you cannot buy all the apartments in a particular building.
- In case if you are looking for a commercial or an industrial estate, nothing can make you happier than Singapore because there are no restrictions on a foreign national in the event of this person buying a commercial or an industrial estate.
- Though this is not in relevance to the topic that my prospective readers are interested in, since it is property act, it is important that we include intellectual property moving a little away from the property. Needless to say, Singapore has made a mark in this area too. Singapore ranks 8th in the intellectual property index in the world.
- There are also other factors that are relevant to the Property act of Singapore. Leasing, Factoring, Let out and all forms of ways people hold property.
- As of June 2017, some factors believe that this is the right time to make invests in Singapore. As of the reports of 2017, the prices of the housing corporations in Singapore see a fall in the trend, but at the same time, the demand seems touching the peak as always. So the fall of the market is uncertain as long as rules and regulations protect the housing market in Singapore.
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What are things that a country can possibly do in cases of a downward trend?Steps for revival!
- When the economy is facing a downward trend, the government will never stay inactive. It will take all possible measures to save the economy and prevent a possible bubble that might appear in the economy.
- A market bubble is an economic phenomenon that is quite common in the housing markets. It is a condition where is unexpected fall in the prices along with rigorous demand. This will curb the supply at a point, leading to insufficiency and this leads to an economic bubble.
- Probably what was happening could have been a bubble that took place at untraceable degrees since most of the global economies took measures to revive at the earliest even before economists could find the possible reason behind the downward trend.
- Singapore is one among the countries that took intensive measures to revive at the earliest. Meanwhile, in the process of recovery, it ranked as one of the topmost countries in various sectors that have something to do with the real estate market. Such is the efficiency of the Singaporean markets.
- Though the downward trend existed for quite a longer time than expected here are some of the factors that still kept the fame of the markets high. The ever-growing demand in the markets of Singapore on the global platform and the contribution that the country saw from the public housing developments are few things that kept the spirits of the market and its participants high.
- However, it is unbelievable that the decline was close to 12% which is pretty much high for a market that is as successful as the real estate markets of Singapore. However, it is an undeniable fact that the government sectors took every step possible and started to micromanage things in order to revive the economy. We hope the steps were steadfast and timely that placed the position of the turning at a reachable point.
- The government instated a lot of plans and policies that kept the primary factors of the market alive. Now that the world economy is getting better, this specific economy has witnessed the light that is at the end of the tunnel. These factors proved that the housing markets of Singapore are still at their best and that the market is ready for an upswing!