Real estate business in Singapore includes buying and selling of apartments, condos, flats and individual houses. Through studies, it has come to our awareness that more than 80% of the people in Singapore live in public housing, while others live in flats and condos. Public housing generally means a set of housing accommodations built for the families that lead a budgeted living. So a decent income is sufficient if you are looking for a roof to live in these public housing accommodations. However, the situation is quite different as far as Singapore is concerned.
Public housing in Singapore is taken care of by the Housing Development Board. Singapore is one country that saw major changes in a very short span in history. The area is quite small for the population it has. This resulted in the development of high-density housing and modernization programs. So the neighborhoods were developed with schools, supermarkets, medical facilities, food and recreational centers.
The real estate activities in Singapore are classified into flowing three types:
Residential buildings include flats, apartments, condos, and independent houses. Understand the requirement and paying capacity of the client and places the choices accordingly.
Commercial buildings include a whole new range of real estate properties. From small business centers to large IT complexes all come under this head.
The word industrial sounds more like manufacturing units and productions areas where a vacant land with minimum construction will work well. However depending on who the client is, the requirements and building space change.
Real Estate myths busted!
Let’s quickly break some of the myths of the property agents in Singapore:
- It is one of the widely believed myths that real estate agents mint a lot of money and become millionaires over night, which is not true. Real estate agents also have to make money through the hard way. You can go without income for months.
- Real estate agents not only take care of the paper works and linking potential clients with property owners, some of them are even expected to take care of the personal errands of the clients.
- It is a common belief that property agents need not have to endorse themselves and they never incur marketing expenses. But the truth is exactly the opposite. Property agents are the ones who actually require a lot of marketing
- People think that accreditation is not required for a property agent, but the fact is that they have to clear an examination called the Real Estate Salesperson (RES) examination to become eligible to sell properties.
Is real estate a good choice in Singapore?
- Even before you could delve into the facts of the real estate business in Singapore we cannot jump to a conclusion whether real estate business is a good or bad choice. It all depends on your expertise and the way you amalgamate hard work and smart work in the right proportion
- Choose your clients wisely and never forget that your clients are also looking for wise property agents. Know the needs of your customer and guide him appropriately.
- Until you build a strong base for yourself, it is better to go one at a time. If you are greedy to pick all the opportunities you bump into, you might end up doing nothing.
If you can dearly hold these rules, then real estate business might actually be a great thing to do in Singapore.