The stock market is falling quickly, more often than they’re going up. There’s an economic uncertainly yet the foreigners are still continuously buying residential properties in Singapore. So, why should one buy residential properties in Singapore?
One of the main reason is the potential huge increase in Singapore's population(about 25%) within the next 14 years. Read on Population White Paper.
There are approximately 100,000 private and public residential properties built in 2014 and end of 2015.The prices of property prices have moderated with these new apartments introduced into the market but has held steady for some time. The past trends showed that the prices are driven more by the sentiment than the stock levels. With the new foreigners or immigrants coming to Singapore, their demand will keep the prices from failing.The Foreigners make up the 60% of buyers for top-end residential property market. The immigrants, including the local residents bought 162 non-landed property units that are priced $5m and above for first half of 2013.
The foreigners set the records high in purchase of the non-land property units. The 33% figure in the first 8 months of 2013 is a mark increase from the 28% of 2012.
The top of the list are the Indonesians and Chinese which make up nearly half of high-end residential property purchases. They are followed by Indians, British, and Malaysians. The Singaporeans only make up 20% of purchases of over $5m in the first half of 2013. It was the immigrants who smashed the price record of residential properties this 2015 for 3,000 sq. ft. unit at Margon Paterson Hill for about $19m.
One should buy residential properties in Singapore because of the following:
- Singapore is considered as a very popular place for education, investment, business and a very safe place to live.
- Singaporean Dollar is very stable and strong. The foreigners who are planning to expand their funds are considering Singapore to place their money.
- Singapore is the sole country in Asia who received a triple A rating from The Standard and Poor’s Rating Services; they are considered as a safe haven for investment. With the prudent macroeconomic policies of Singapore, the foreign interest will surely be maintained.
- As the economic woes of Western nations continue, the hot money will also continue to flow east.
- The tough cooling measures in different countries such as Hong Kong and China have diverted buying the interest to Singapore. Nowadays, there are more overseas funds flowing into Asia.
The experts said that the continues foreign interest in Singapore is due to the buzz of 2 integrated resorts, the growing strength of the country as their financial hub, the well-developed infrastructure, the high quality educational and medical services, and many people see Singapore as a very stable country with a very strong and reliable government.
Singapore Transformed