London homes beckon despite economic uncertainties
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Buying a home for investment in Singapore can involve substantial transaction costs. Citizens pay additional buyer’s stamp duty of 17 per cent for a second home and 25 per cent for a third and subsequent home.
While rents are rising, getting an annual net yield of around 2 per cent may not appeal, amid the rising costs of home loans.
As travel restrictions lift, locals may venture to buy homes abroad. Mature markets such as Australia, the United Kingdom (UK) and the United States are well regulated and language is not an issue. Many Singaporeans are familiar with these places, having studied there.
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