Monday, January 18, 2010

Singapore Bungalows - The Prime Property Investment

Singapore Bungalows - The Prime Property Investment

Imagine an exclusive neighborhood with tree lined streets, manicured grassed areas, roomy backyards and the privacy of having four walls to yourself. All of these come with buying your own Singapore house.

Everybody knows that land is pricey in the land-limited town state. Most other residents, visitors, expats have to live in studios, flats and condos. Living in a bungalow in Singapore exudes a certain luxury considering that there are roughly only around 1,000 good class bungalows found all around Singapore.

Except for exclusivity, buying a Singapore bungalow is a excellent long-term investment. Bungalow sales have fared well even during hard money times compared to other housing projects and property values. Over the years, superb finance gains have been reported by bungalow owners who have decided to sell their properties.

Owners of a Singapore bungalow are also enjoying the plot of land that comes with their properties. Good class bungalows should have a minimum plot of 1,400 sqm. This gives owners and their families lots of room to play and run around with. Another limitation for house owners is that there has to be an adequate quantity of grass and greenery round the property. This stipulation is to adhere to environmental laws that aim to preserve the ambiance of healthy living amid Singapore's urban jungle.

In addition to this, houses are either single storey houses or 2 storey homes. The height limitation is again to save the low-rise and home feel of bungalow neighborhoods.

One of the advantages of buying and owning a bungalow is that it gives the owners lots of room for future extensions. Bungalows can be easily transformed and renovated because of the large space supplied to owners. Extensions can either be a new wing or a new floor or a pool. Because of the lot size allocated to houses, a garden is also a good idea. Improved and maintained houses can simply fetch higher resale values, another inducement for bungalow owners to worry for their properties.

Singapore law states that only citizens can own landed property, including bungalows in the city-state. But there are a large amount of bungalow owners who lease and rent out their properties to foreigners, firms, expats, firms and even fellow voters. This is another merit of buying and owning houses because it is one of the more sought after properties for renting , making it a potential profit generating venture for its owner. Indeed, the present rental on houses round the city-state averages in the five figure class.

Few of these protected areas exist in Singapore today. Only about 39 appointed areas for Good Class Bungalows or GCBs have been appointed by the government as protected areas for these types of housing developments. These areas are Nassim Road, Belmont Park, Cluny Hill and Raffles Park, to name a couple.

There are around 2,500 GCBs round the Singapore and of the many millions of Singaporeans only about 1,000 nationals own bungalows in these designated areas. The Singapore Government has no plans in the future to add to these exclusive areas, further raising the worth on this houses round the city-state.

For people who don't live or haven't been to Singapore, they'd ask what the fuss is all about Singapore houses. In a country where land is a commodity, owning ahouse doesn't only scream wealth, it also says luxury. Singapore bungalows area scarce luxury, so if you chance to own one, consider yourself one of the lucky few who have made it in life.

Singapore Bungalows are the epitome of luxury, style and elegance. It is potential investment of home-owners and a legacy to leave behind. Singapore Bungalows are special indeed!

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By Winston Yap