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These millionaires include individuals from businesses such as technology and banking, and people with extensive overseas investments.
Housing prices in this island-state also rank second highest in Asia, just after Hong Kong.
The regional Real Estate Office (LINEAR) regulates the sale of residential properties in Singapore.
This office also helps overseas investors and residential property owners in Singapore obtain the best prices.
A range of incentives are offered by the authorities to encourage property investment, including tax rebate schemes and the awarding of Development Grants.Singaporean people who want to purchase freehold property in Singapore need to enroll with the Residential Real Estate Department (RREOD).
A certificate is issued to the applicant with a picture identification.
If you are new to the world of commercial real estate, an office lease may seem very complicated.
Lease agreements can run into multiple pages of perplexing legal language and terminologies, cost your company several lacs of rupees in drafting and vetting and lock you into space for years.
Of course, the landlord expects to be paid for the use of that space, and that surely gets captured in the Lease agreement in the form of rent.
Your lease also spells out several other rules that determine your responsibilities and obligations to your landlord and your rights to your space and to the building throughout the tenure of your lease period.
The Rent at times gets paid quarterly in advance or monthly in advance depending on the terms mutually agreed.
After all, it can be expensive for them to find new tenants, pay brokerages, stamp duty charges, etc.
