Singapore is the gateway to multiple Asian markets and ASEAN for global companies. This has kept it at the forefront of economic growth in the region for a long time now. Singapore is a leading financial, transportation and logistics hub and also has one of the biggest trade agreement networks in all of Asia. The economy is a flourishing one and has attracted several leading multinationals to do business here.
Singapore is an entry point to the AEC and offers global companies an easy gateway into the biggest free trade zone in the world along with a fast growing middle class consumer base. There are thousands of global companies operating in Singapore at present and the zero trade tariffs, minimal limits on foreign direct investments and business friendly environment have propelled it towards further growth. Singapore is the top choice for those looking to expand in Southeast Asia and will also profit from increased annual spending in ASEAN along with the setting up of China’s Belt and Road Initiative (BRI).
There are excellent investment opportunities in Singapore on account of falling property prices. Home prices have gone down the most in 7 years and developers are now offering attractive discounts and other incentives. This is attracting investors in droves since rock bottom valuations are making several premium properties easier to own. According to several experts, Singapore is now a fair valued market from being a slightly overvalued market earlier. This is a major decline in property prices but it has sparked interest from investors globally. Sales of properties are increasing rapidly on account of this drop in prices and eventually prices will rise but till then, one can expect some fabulous bargains indeed.
Overbuilding in Singapore’s luxury housing market has led to rock bottom valuations and prices. This makes the situation more conducive for global investors. The number of deals in this segment have gone up with lower prices and valuations overall. The global investor community is now scouting for penthouses, bungalows and apartments spread over 3, 000 sq. ft. which can be snapped at rock bottom valuations. The high end residential segment is proving more attractive to investors since prices have fallen by close to at least 25% from their peak. Sales of properties have also jumped in the prime core central zone by close to 70% after this correction in prices.
The Government aims at making Singapore the first Smart Nation in the world and several initiatives have been rolled out accordingly. Developments in infrastructure are set to give a major boost to the Singapore real estate market. In the 2017 budget, the Government has declared its intention to fast track S$700 million worth of infrastructure projects for supporting the real estate and construction sector. This public infrastructure investment will beef up realty markets as well.
Singapore has been chosen by the World Bank Group to be a major hub focusing on urban development and infrastructure. This majorly takes into account the Government’s push for creating smart urban infrastructure and a well developed transport network along with its strong position in terms of global finance, trade and business and also its relatively strong position in global capital markets. Singapore has several governmental initiatives which involve private players as well. Products like desalination plants and NeWAter have been developed by the Government in collaboration with private players. Increased emphasis on public infrastructure development and spending will boost real estate markets, create more jobs and lead to enhanced demand for housing in Singapore. Investors stand to benefit on this count.
Singapore offers one of the best lifestyles for residents, particularly expats from other countries. Singapore is known as one of the best places to live in Asia and its flexible immigration guidelines and tax exemptions are considered major plus points along with its nice environment and good working conditions. Singapore has also been ranked as the best Asian city in terms of quality of living as per several global surveys. Singapore offers a safer ambience with top class healthcare, education and ample ease of doing business along with top class leisure and recreational options.
Singapore offers access to clean water supply and ample sanitation along with quality housing. Singapore has a thriving and global culinary scene which impacts lives positively. There are ample opportunities for recreation and entertainment and welfare benefits are freely given to citizens by the government. There is political stability and proper law and order is enforced in Singapore. Singapore is a melting pot for several Asian cultures including Indian, Chinese, Malay and so on. Languages like English, Tamil, Malay and Mandarin are widely spoken here and this makes overall adaptability easier. Singapore has a big expat population and the cosmopolitan nature of the society is a source of big comfort. Singapore has strict local laws which ensure abysmally low crime rates. Singapore has a fantastic healthcare system while there are several famous global universities and international schools here. Singapore is also home to well known restaurants, pubs, nightlife destinations, amusement parks, attractions and the best hypermarkets and supermarkets including Giants, Carrefour and Cold Storage among others. Almost all major retail brands are present in Singapore as well.