Sunday, April 26, 2009

Good time to buy?

Real estate worldwide has been hard hit by the global downturn.

Home prices in some foreign cities have fallen sharply, as a result of tighter credit and the difficulty some owners face in servicing their mortgages. Their fall, coupled with the relatively strong Singapore dollar, has made it more attractive for Singaporeans to land their dream home overseas.

Investing in a property overseas involves a fair amount of risk. But for those who have the stomach for it, this may be a good time to scout around for a holiday home in Sydney, a retirement villa in Penang, an investment property in London, and more attractive buys in other cities.

Source: Straits Times, 26 April 2009

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