If you’re looking to invest in Southeast Asian properties, Singapore is a great place to park capital. In 2010, all eyes were on Singapore as it was presented as the fastest growing economy in the planet. Whether it’s the successful free-market economy or the impressive GDP to thank for the prestige, it’s no secret that the country is a goldmine for local and foreign real estate investors. Here’s things you should know about and take to heart before signing any paperwork.

imagesEstablish a Personal Criteria

Real estate is an expensive investment. Decide first how much you can allot for investment properties without endangering your family’s lifestyle. Aside from capital, identify how long you want the investment to last before needing to be liquidated, what kind of properties you are looking for, the locations you’d like to focus your search in, and the anticipated returns on investment.

rr-01Select the Right Realtor

Despite being a no-brainer, it’s seldom prepared for by most inexperienced investors. Just like finding the right stockbroker for investing in companies, you need the right real estate agent to legally and profitably invest in land. Singapore-based realtors become a necessity for expat investors who lack knowledge about the market and the step-by-step procedures for acquiring houses. An important filter for choosing a good realtor is to only pick those that are members of the Institute of Estate Agents or IEA.

consumer-affairs_02_temp-1359898031-510e65af-620x348Talk to the Actual Seller

Being proactive is an important quality in real estate investing. The process is meant to be face-to-face rather than online. If you wish to invest in Singapore’s real estate without having to travel, you can purchase REITs or real estate investment trusts. For those who want to be long-term successful investors, talk with the seller and verify that they are indeed allowed to sell the property. If the seller of a mortgaged house incurred capital losses upon the sale, the bank may not approve of the transaction thereby rendering anything the seller says or does void.

1921-YourOptionsVisit Your Options

Your real estate agent will provide a list of properties that meet your criteria. Make sure you visit them in-person. Bring your laptop or a notebook and pen to jot down what you liked and didn’t liked about the properties you viewed. Having a detailed record of these properties can prove useful later on when you make the final decision. You don’t want to be visiting the Singapore property a second time just to verify a key feature or flaw that may influence your final decision.

makeanofferMake an Offer

After you’ve found the perfect investment Singapore property, make an offer immediately. You don’t want to take too long as there are other interested buyers and investors submitting their offers to the seller. Gauge if the property is in high demand or if buyer interest is low. If it’s the former, make your strongest offer. If it’s the latter, leave some leeway for negotiations.

Singaporean properties are a great addition to any long-term investment portfolio. The country’s economy is anticipated to skyrocket further. Alongside it will be the demand and prices for land and housing.