Why Are Foreigners Buying Singapore’s Properties?
In the last 3-4 years (2016-2019) period, foreigners are snapping up many of the Singapore properties, mainly in the luxury segment like those in district 9 (Orchard/River Valley), district 10 (Tanglin/Bukit Timah), and Central Business District (district 1 and 2). So why are foreigners love to buy property in Singapore?
Some of the popular high end condos among those ultra high net worth foreigners are South Beach Residences along Beach Road, New Futura and 3 Orchard by the Park near Orchard, Wallich Residences and Marina One Residences in Central Business District location.
According to the recent (12 November 2019) report for property investment prospect rankings, Singapore is ranked No 1 for real estate investment prospects in terms of price increases in 2020.
The ranking is based on many important factors like the fundamental of the real estate market, resiliency in the face of adverse economy environment, stability of the political environment, future upside potential of property prices, and more.
Being ranked no 1 in the ranking, Singapore property market further prove that why it is so popular among foreigners all along.
A lot have been said about what make Singapore property so appealing, I have written it in my blog, more info go HERE.
The fundamental of Singapore property market is very strong, it’s a first world country and one of the leading financial hubs in the world. And with a limited land available couple with the ever increasing population and growing wealth, property investment here seems to be one of the safest bets.
However, with the recent global events like the US-China trade war and Hong Kong prolonged protest, it further convince investors all over the world that Singapore’s stability and resiliency make it a safe haven compare to other countries.
Furthermore, property prices in Singapore are still undervalued compare to other major cities like London, Hong Kong, New York, ShangHai, etc. Which means, even with the Additional Buyer Stamp Duty imposed on foreigners, Singapore property prices still represent a value buy with good potential for capital gain, as well as an excellent tool for capital preservation and hedging against inflation.
For foreigner looking to invest in real estate in Singapore, refer to my previous blog https://luxurycondosingapore.com/buying-singapore-property-as-foreigners/
It explains more about some rules and regulations on buying property in Singapore as foreigners.
At Luxury Condo Singapore, we have the wildest range of high end properties in prime locations in Singapore, and we are specialist when it comes to assisting foreigners in buying Singapore property. Feel free to contact us for more info.
Jack Ooi
Professional Real Estate Consultant (Singapore)
Contact Us HERE
Youtube Channel: https://www.youtube.com/channel/UCsttVaUP9IxNhryysHizwbg
