3 ESSENTIAL AGENCIES FOR PROPERTY INVESTORS IN SINGAPORE

Acquiring knowledge is crucial when deciding whether to purchase or sell real estate. Many property investors subscribe to the prevalent belief that location, location, and location are the most important factors in real estate investing. Real estate investors are able to tour the site, but how can they learn about its past and what projects are planned for the next five or ten years? Singapore Land Authority (SLA) (https://www.sla.gov.sg/) is the organization in charge of managing state land. The state is the principal landowner in Singapore. Established on June 1st, 2001, its primary goal is to maximize land resources for Singapore’s social and economic development. Maintaining the national land information database is one of SLA’s primary responsibilities in addition to overseeing state land. To get information about any piece of land in Singapore, the public may visit SLA. In order to facilitate public access to information, SLA also oversees one map. Anyone may locate location-based information using this integrated map system. For instance, the demographic distribution of the people who live in a community or the distance between a certain MRT station and the development could be of interest to real estate investors. The website has this kind of information. The Urban Redevelopment Authority (ura) (https://www.ura.gov.sg/uol/) is another significant organization. In charge of managing Singapore’s zoning and master planning, ura plays a significant role. In Singapore, it is also referred to as the National Urban Planning Authority. URA was founded on April 1st, 1974, and is responsible for creating medium- and long-term strategic land use plans that are evaluated every five to ten years. For instance, the ingenious result of ura planners is the transformation of jurong east into Singapore’s second central business area, or CBD. The typical investment horizon for property investors is three to five years, often even longer. They may have a solid grasp of the upcoming projects near their homes with the use of the master plan material available on the URA website. Despite its small size of 71.9 hectares, Singapore has a vast road and rail network. There are ten expressways totaling over 163 kilometers in length. There are now five MRT lines in use, and three more are being planned or built. Land Transport Authority (LTA) is responsible for the development and management of various public transportation infrastructure (https://www.lta.gov.sg/content/ltaweb/en.html). A condominium close to a transportation hub, such a bus stop or metro station, often commands a higher rental price than condos located further away. Additionally, there are additional business establishments beside the MRT, including malls. Therefore, the added convenience of living in a condominium close to the MRT may result in a higher selling price down the road. Singapore is known for its effective administration, which would not have been possible without the accomplishments of government agencies. Therefore, those who are able to assimilate the news and crucial information from these three organizations and invest in real estate should reap the benefits of their real estate choices.