Singapore is one of the rapidly growing countries across the world. Singapore is financially very strong. Singapore government itself takes an initiative to develop strong entrepreneurship and promotes the entrepreneurs as well. This attracts a lot of people to this island nation. Naturally, the property prices in this city nation are on the rise.
Singapore government and other related institutes are liable to pay taxes on their properties which are under their respective authorities. If the property prices rise up they have to pay the taxes accordingly. If the prices go down, the prices of assets will also go down. The property tax revenue of Singapore government is dependent on its property prices. Singapore government is very active in checking the market rates related to the housing. Due to the rapid financial growth and low interest rates, common people are unable to buy property. As per the economists, people have to keep in mind and be ready on financial basis to handle the situation of rising property prices. Agents, sellers and banks will gain profit with the rising property prices.
Singapore government is continuously focused on making Singapore as the best place to live in across the world. Due to the strong Singaporean economy investors are always interested to invest their money in property as well as business in Singapore. This makes Singapore one of the most expensive countries in the world. With the demand from international buyers for houses the property rates in Singapore has been ever increasing.