Singapore has one of the most expensive real estate rates today, second only to Hong Kong. Yet, despite the cost, the real estate market in Singapore is still seeing a lot of action, with even Japanese investors jumping in. Even after the recent cool off measures, home investors are still looking for home loans, why? Because, no matter how expensive the place becomes, the revenue generated from real estate and the long term savings that a home owner can expect, are two very good reasons for buyers to continue investing in real estate.
Home Loans
The present situation is characterized by a steep climb, almost a record climb, with profits from the suburban housing projects quickly rising and the current situation is also marked by a considerable number of people moving from the ‘built by state’ apartments to private buildings. Against all this, let’s have a look at a few pointers that need consideration when thinking of a home loan.
Banks Offering Home Loans in Singapore
There are more than a handful of banks that are aggressively offering home loans today in the market. HDFC Singapore, OCBC, POSB and Citibank Singapore are a few of the names that stand out for their home loan offerings and their popularity in the home loans segment.
Many banks in Singapore today are making things easier and relatively more transparent for the potential loan taker through their websites and dedicated loan advisors. These website pages allow you to select the type of loan you are looking for, list down the necessary documentation required, know the interests and payments involved and they even let you calculate the amounts involved for the whole life of the loan. In addition to that, one also has the option of walking up to a representative for a much clearer picture of the home loan.
Though this approach is not something altogether new, the quality of these services are now the decisive factor, given that so many players are vying for a piece of the Home loan pie– a situation in which the loan taker stands to gain a lot. Select your bank carefully and ask as many questions as you want, before settling on one.
Non bank sites like loan calculator sites feature reviews of available home loans in the market. They being independent sites and forums, let you get a more impartial picture and could be a great way to double check claims made by loan givers.
SIBOR ( Singapore Interbank Offered Rate )
Going to teletext to compare SIBOR ( Singapore Interbank Offered Rate ) rates is common practice these days. As of now, the market offers a wide range of interest rates to pick from but it is advisable to understand the fuller picture before settling only for a low rate. There is more to home loans in Singapore than just low rates.
Loans in Singapore 