Penrose prices

Singapore properties are known to be one of the hottest and most coveted properties in the world. This all began in 2005 when foreigners were given the privilege to buy property in Singapore such as apartments in buildings. This new strata-titled properties, as it is called also provides that approval of Singaporean authorities is no longer necessary. What foreigners only need to do is to have the Singapore Land Authority approve the purchase of the land titled properties which include houses, bungalows and plots. And because there have been an increase in foreigners who buy property in Singapore, the real estate prices rapidly climbed and demand for it grew all the more.

In 2006, the price of Singaporean penrose prices real estate increased to 10.2 percent. The following year it shot upward to approximately 15.8 percent. With the booming economy of the country and after being hailed as one of the best destinations in Asia, the free market of Singapore has made it possible for foreigners to relocate themselves, their families and their businesses to the country.