Singapore Properties Among The More Affordable In Asia, Says BuyRentSingapore.Com.
Singapore is one of the few countries in the world where monthly installments toward repayment of mortgage loan is lower than rental payments. Many home buyers including foreigners are taking advantage of the low interest rates to invest here.
Online, July 13, 2012 (Newswire.com) - Many homebuyers including foreigners stationed in Singapore, are taking advantage of the all time low mortgage rates in Singapore, and are investing in Singapore Property. Singapore properties are among the more affordable in Asia, as it is one of the few countries in the world where monthly installments toward repayment of mortgage loan is lower than rental payments.
Singapore's average mortgage rates are about 70 basis points above the Singapore Interbank Offered Rate, or SIBOR. The 3 month SIBOR is seeing a low of 0.4 percent. Mortgage rates in Singapore are therefore, among the lowest in Asia followed by Hong Kong. Hong Kong's average mortgage rate is about 2.15 percent and China's is about 7.43 percent. Mortgage rates in Indonesia can be as high as 10 percent while South Korea rates are about 5 percent.
The low mortgage rates in Singapore is among one of the factors driving the demand for Singapore Property. Demand for Singapore property has risen unabated despite 5 rounds of cooling measures since 2009. Local buyers are forming the bulk of these purchases and mostly for own occupation.
Singapore property market continues to be buoyant. The low interest rates are luring buyers to Singapore property as a "hedge against inflation". 60 percent of Singapore household wealth in 2010 can be accounted to property values.
Developers' sales of Singapore property had been very robust as buyers continued to enter the Singapore property market amid persistent low interest rates and availability of smaller, more affordable units.
To keep property buyers updated, BuyRentSingapore.Com and BuyRentSingaporeProperty.Com will continue to keep a close eye on the Singapore property market for the market movements and latests project launches. Property investors looking for property for sale or latest Singapore property are welcomed to visit www.BuyRentSingapore.com or www.BuyRentSingaporeProperty.com for latest projects in Singapore property market.
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