Jan 16, 2010
Think carefully before investing in weekend retreat abroad
I REFER to Monday's report, 'More Singaporeans have weekend homes in Iskandar, Johor'.
Before Singaporeans rush in to spend their hardearned money, consider the following:
· Why are the estates gated and fronted by burly guards? Why do they have several levels of security, such as monitoring by closed-circuit TV cameras and former Nepalese army guards on 24-hour patrol?
How long will such security features be provided - three years, five years? After that, what?
· Will reliable and efficient medical facilities be easily available, even if I use the property as a weekend retreat?
· Singaporeans must also assure themselves that whatever they buy, the property titles are good and legal and there is recourse to arbitration should the buyers face difficulties during and after purchase.
Sometimes, a little scepticism, even cynicism, is good, especially when such purchases involve years of hard-earned money.
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