Let us say we have accumulated a hefty sum of money over the years. We have been thinking whether we put it in good use or just squander it – after all we deserve it. Whatever we choose, we have to be certain that it can sustain our life here in Singapore.
If in this case we are thinking of putting our money in good use, we have to think of possible investments like commercial property. Some Singaporeans would not consider it wise to invest in properties because of the current market instability, devaluation, mounting interest rates and higher government taxes.
We have to know that the potential of commercial property is far-reaching if we only consider it. Here are some reasons why we should consider commercial property for this year:
- We could afford to buy one or more: Many people think that when buying commercial property, we have to buy the entire office building. We can start from strata-titled units which can be purchased individually. The prices for individual strata-titled units are also reachable. We can choose to buy one or more.
- Lesser taxes are applied: We have to know that lesser taxes are applied for commercial properties. This is to entice more businessmen. We are not subjected to Additional Buyers Stamp Duty and Seller’s Stamp Duty.
- We have the upper hand: If we own strata-titled units, we have the advantage since the supplies of such units are limited. If we get one, renting it out is not difficult same with selling it.
- Higher returns: If we choose the right location and decide the right price, our rental income will take care of our monthly costs leaving us secured.