Things that you have to know about Property Law in Singapore
There are a lot of us who are interested in global investments. If you are one among them, then investment ideas in Singapore are definitely on your list. Undoubtedly Singapore is one of the best places in the world where you can make successful investments. Apart from the fact that the nation saw humongous growth in an unbelievably short span of time, there are also other reasons as to why the Singapore has a successful housing market. The flourishing economy, stable governance and proper rules and regulations are some of the reasons. So in order to become a successful investor in the housing markets of Singapore, it is imperative that we understand the Singapore property law. Here are some of the things that you should know about the Property act of Singapore:
- 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.