Singaporeans are having a difficult time investing in their own property. The property market on the little island is shaky, with highs and lows from one quarter to the next.
First Quarter of 2008 began with the first peak of more than S$2,000 per square foot for private apartments or condominiums, and then fell by the first Quarter of 2009 by half, then surging again in the beginning of this year 2011.
Not only are property prices high in Singapore but recently Singapore was voted the 5th most expensive place in the world to rent, based on a report by International human resources provider ECA International.
With the property market this volatile, people are looking elsewhere to live and invest.
Castlewood Group, a commercial real estate developer based in Singapore, is opening new opportunities to this group of investors. Managing the 8over8 luxury hotel in Phuket, Thailand, Castlewood Group is offering a low investment of S$49,500 with guaranteed returns of 5% for the first three years and up to 30% subsequently for the remaining seven years.
“Would you like to turn a low investment of S$49,500 into S$150,000 potential returns? Everyone would. We are making this possible for people who can’t afford to buy properties in Singapore” commented Chris Comer, Managing Director of Castlewood Group.
For investors of the 8over8 hotel in Phuket, they will not only reap the rewards of high returns, but also able to stay at the 8over8 hotel once completed.
“We are building luxury suites specifically for our investors. They will be able to have rooms with private pools, lift access, sundecks, amenities and privileges to meet all the investors’ needs.” Continued Chris Comer of Castlewood Group.
The 8over8 hotel is situated in the enviable location of Bang Tao beach, close to the Laguna, Phuket resort and is scheduled to be completed by end of 2012