Invest
Dodgy property investment schemes
By Wilfred Ling, The IFA on Duty  •  October 10, 2013

An article from Straits Times said that the Council for Estate Agencies (CEA) issued an advisory note warning about real estate agents involvement in selling potentially dodgy foreign property investment schemes here. Some real estate salespersons have already been fired, said the report.

For the past year, I’ve increasingly seeing very strange property investments in my new clients’ balance sheets. For existing clients, I’ll tell them to stay away from these strange investments. Due to the runaway property prices in Singapore, many property buyers turn to cheaper but controversial alternatives. The following are some examples of controversial real estate investments:

  1. Purchasing an overseas property which prohibit foreigners from owning more than x% when the buyer’s share already exceed x%. This is breaking the local laws already. Definitely the investments will end up in tears.

  2. Purchasing an overseas property through a proxy (e.g. wife, friend) in order to circumvent foreign ...

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By Wilfred Ling, The IFA on Duty
Wilfred Ling is a Chartered Financial Consultant with Promiseland Independent Pte Ltd. He is a fee-based financial planner by profession.
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