Singapore – In the Heart of Asia
Strategically placed at the crossroads of trade between the East and the West, Singapore is a vibrant city-state of about 716.1 sq km. With a cosmopolitan population of more than 5 million people, Singapore is well-regarded as a triple-A rated economy with strong growth potential – a sound, stable and winning location for investment as well as business.
Global investors and talents are attracted to work, live, and play in Singapore by its transformation into a truly global metropolis. At the same time many have decided to leverage on Singapore’s growth by investing in real estate in the country. The last few years have seen an increase in foreign real estate investment in the Singapore property sectors.
Foreign Investment in Real Estate
Foreign institutions and foreign high net-worth individuals form about 20 percent of private residential property buyers in Singapore. The majority of international buyers are from Malaysia, China and Indonesia.
Singapore is an attractive location for investment for three key reasons – its strong economic fundamentals and good economic , social and political management, the quality living environment it offers and its strategic location within a few hours’ flight from the major cities of Asia.
Singapore has leveraged on the wave of growth of the region and is among the fastest growing economies in Asia. From an economy relying on export and manufacturing, Singapore’s growth is now driven by a diversity of engines: financial services, logistics, education, medical services, biomedical sciences and research, information communication, construction and tourism. The planned expansion of its population to 6.9 million by 2030 will be another important growth factor.
The Singapore government has also given a strong commitment to business and real estate infrastructure to attract global investors and tourists. These include the Singapore Grand Prix, the first Formula One night race in the world; the Marina Bay sands developed by Las Vegas Sands; Resorts World Sentosa with Universal Studios; the 101-hectare Gardens by the Bay on prime waterfront land; Singapore Flyer; Esplanade – Theatres on the Bay; and the ever changing Orchard Road, Singapore’s prime shopping district.
These attractions are transforming the country into an even more exciting place for all to live, work and play in.
Singapore is a diversified economy with a thriving financial centre of international repute. With strong fundamentals, the wealth management and private banking sectors continue to do well. Strong growth in areas such as wealth management has gained Singapore the reputation as the Switzerland of the East.
The World Bank, in its latest “Doing Business 2017” report, ranks Singapore as the world’s 2nd easiest place to do business. Singapore has moved up one notch from 2016, attributed to key reforms it has implemented.
What makes Singapore increasingly attractive is also its quality living environment in Singapore – clean, green, healthy and safe. This has served as a key competitive advantage for companies located here in their efforts to attract global talent.
The World Economic Forum’s Global Competitiveness Index 2016 – 2017 ranks Singapore the 2nd most competitive country globally. It dominates the efficiency of the goods, places 2nd in terms of labour markets and financial markets development. Singapore also has world-class infrastructure, with excellent roads, ports and air transport facilities. The country’s competitiveness is reinforced by a strong focus on education and training, thus providing individuals with the skills needed for a rapidly changing global economy.