Protecting Your Property and Pocketbook The Importance of Homeowners Insurance for Maximizing Rental Yield
For international investors, comprehending the regulations and limitations surrounding property ownership in Singapore is crucial. Generally, foreigners can purchase condominiums with relatively lenient restrictions, unlike landed properties that have stricter rules. Nevertheless, foreign buyers are obliged to pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their initial property acquisition. Despite this additional expense, the stability and potential for growth in the Singapore real estate market remain highly appealing to foreign investors, contributing to a naturally increased rental yield for their properties.
In conclusion, homeowners insurance is crucial for protecting your property and pocketbook. It provides financial protection in case of unexpected events, can save you money in the long run, and can help you maximize your rental yield. Whether you are a homeowner or a landlord, having homeowners insurance should not be overlooked. It is a valuable investment that can provide you with peace of mind …