Buying a Second Property – 3 Key Factors to Consider
TLDR When navigating the complexities of purchasing a second property in Singapore, ensure you meet eligibility criteria, consider affordability factors...
Read More
Singapore, a small island nation in Southeast Asia, has been steadily gaining recognition as a hotspot for the ultra-wealthy to invest in real estate. Despite the recent increase in the Additional Buyer’s Stamp Duty (ABSD) from 30% to 60% for foreign buyers, Singapore’s property market continues to attract the attention of the world’s richest individuals.
Here are the top five reasons why ultra-rich foreigners continue to buy property in Singapore.
1. Economic and Political Stability:
Singapore’s reputation as an economically sound and politically stable country is one of the primary reasons why it attracts high-net-worth individuals. The absence of explicit wealth tax compared to other jurisdictions and incentives for the ultra-wealthy to expand their business activities make Singapore an attractive destination for investment.
2. Attractive Tax System:
Despite the increase in ABSD, Singapore’s tax system remains appealing to foreign investors. Certain nationalities, such as Americans and Permanent Residents of Iceland, Liechtenstein, Norway, and Switzerland, are exempt from paying ABSD on their first property purchase, making Singapore an attractive option for these individuals.
3. Rise of Family Offices:
The rise of family offices in the Asia-Pacific region, particularly in Singapore, has contributed to the increased interest in Singapore’s real estate sector. These family offices often seek exposure to Singapore’s prime real estate sector, viewing it as a safe and lucrative investment.
4. High Quality of Living:
Singapore offers a high quality of living, with excellent infrastructure, diverse facilities, and a cosmopolitan ambiance. This makes it an attractive destination for expatriates and their families, further driving demand for luxury homes.
5. Singapore’s Status as a Financial Hub:
Singapore’s status as a financial hub conducive for trade, coupled with its strategic location, makes it an attractive destination for business investment. This encourages foreign nationals to invest in Singapore’s real estate, contributing to the steady rise in property prices.
In conclusion, despite the increase in ABSD, Singapore continues to attract the ultra-wealthy due to its economic and political stability, attractive tax system, rise of family offices, high quality of living, and status as a financial hub. As long as these factors remain, Singapore’s property market will continue to be a hotspot for the world’s super-rich.
If you would like to arrange a viewing appointment with us in Singapore, do send us a DM here
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
You May Also Like …
Will New Launch Condos See a Drop in Prices Soon?
TLDR The real estate market in Singapore is experiencing a trend of lackluster bids for prime properties in various locations....
Read More
5 Tips : Riding the Wave: How to Profit from the Upcoming Boom in Singapore’s Property Market
Singapore's property market has always been a hot topic among investors and homebuyers alike. With million-dollar HDBs being sold and...
Read More
Top 5 Reasons : Why Developers Seem Hesitant To Commit To New Projects In Singapore
Singapore, a thriving global city-state, has long been known for its robust economy and attractive real estate market. However, in...
Read More
Unlock the Secrets of Property Investment and Transform Your Financial Future!
TLDR The Singapore property market has experienced fluctuations, impacting private home prices. Understanding your financial capacity is crucial when considering...
Read More
Singapore’s HDB Projects: From Unique Landmarks to Just Another Brick in the Wall?
Take a look at this chill spot in Yew Tee. Someone's gone all out to make it feel like an...
Read More
Top 5 Emerging Trends in Singapore Real Estate: What Investors Need to Know
The Singapore real estate market has experienced significant growth in recent years, attracting investors from around the world. As the...
Read More
Beware of These 7 Deceptive Tricks In Showflat Condo Sales
TLDR When navigating the complexities of the real estate market, it's crucial to be wary of hidden marketing tricks when...
Read More
Thinking of Selling Your Home in 2024? 5 Vital Realities Every Seller Must Face
TLDR From 2022 to 2024, Singapore's housing market underwent significant changes, with a shift from scarcity to a boom in...
Read More
Investing in Singapore Real Estate as a Foreigner
TLDR The blog post discusses the rules and regulations for foreign investors looking to purchase real estate in Singapore. It...
Read More
6 Indicators and Measures to Determine if Your Home Has Unrecognized Profits
TLDR The booming real estate market presents opportunities for homeowners to profit from selling their properties. Two key signs that...
Read More
Unlock The Key To Selling A Home With A Perceived Disadvantage Like Being West-Facing Or Close To A Rubbish Chute – Here’s How!
TLDR When selling your house, turn perceived disadvantages into advantages. For sun-facing homes, use UV sheets and blinds to manage...
Read More
What Is The Best Location To Purchase A House To Ensure Your Child Has The Highest Probability Of Attending A Well-Renowned Primary School?
TLDR Parents often seek homes within 1km of desired primary schools to increase enrollment chances. Consider oversubscription rates and population...
Read More
Top 5 Sushi Restaurants in Singapore
Singapore, a melting pot of cultures and culinary delights, is known for its diverse and vibrant food scene. Among the...
Read More
5 Tips To Spot Winning Investment Properties In Singapore
Investing in real estate is an exciting and potentially lucrative venture. In Singapore, a thriving property market attracts both local...
Read More
Top 5 Cocktail Bars in Singapore for a Night Out
Singapore, the vibrant city-state known for its impressive skyline and diverse culture, is also home to an exceptional cocktail scene....
Read More
Discover How The CPF Accrued Interest Can Impact Your Property Sale Proceeds
Singaporeans are renowned for being smart and savvy - especially when it comes to selling their homes, whether it's an...
Read More
Top 5 Luxury Dining Experiences in Singapore
Singapore, known as the Lion City, is a melting pot of cultures, cuisines, and luxury experiences. With its rich history,...
Read More
Should You Purchase a Small Landed Home or a Larger Condo? Insights from Singaporeans
TLDR When deciding between a compact landed house and a spacious condominium, consider key factors like security, parking, maintenance costs,...
Read More
UNCOVERING the Secret to Profitable Small Boutique Condos!
TLDR Boutique condos, with fewer than 100 units, are known for price fluctuations due to infrequent transactions and higher upkeep...
Read More
