Singapore’s property market has always been considered a safe haven for investments. In fact, in the aftermath of the last crisis years (2009-2013), huge price increases were recorded. As a politically stable and harmonious location, Singapore’s real estate is a reliable and dependable place to invest in.
Even with the recent Singapore elections and swing votes towards the opposition, Singapore is still considered an attractive investment location, and property in Singapore is considered one of the safest investments around.
Singapore is ranked top in the world in terms of World Competitive Ranking, beating countries such as the US, China, Hong Kong, and Taiwan. In fact, it was particularly applauded for its solid economic performance, strong trade ties, high employment rate, and advanced technological infrastructure, even while facing challenges such as a small domestic market, and lack of natural resources. Singapore is considered one of the most stable countries in the world, having weathered several financial crises (1997, 2008), and has a high government revenue, no foreign debt, and a consistently positive surplus.
As for its property market, Singapore’s government is proactive in implementing various measures to keep the market stable. This commitment to keeping properties stable and livable should be extremely reassuring to investors looking to purchase a property.
Singapore’s reputation as a safe harbour with a stable economic environment has naturally attracted many foreign investors who are interested in wealth preservation. To park their wealth safely, many wealthy investors are willing to pay a premium for a property investment. As such, private housing will most likely see an increase in prices, as the pandemic and subsequent downturn forces investors to take less risks with their wealth.
Property is an increasingly attractive investment for investors. A safe haven investment destination such as Singapore might be as good as it gets.
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