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 …
Jayson Ang – August 23, 2024 – Share
Investing in luxury properties has always been an attractive option for high-net-worth individuals seeking to diversify their investment portfolios. Singapore,...
Read More
Jayson Ang – September 2, 2024 – Share
Singapore's property market has always been a hot topic among investors, both local and international. With its strong economy, stable...
Read More
Jayson Ang – April 26, 2024 – Share
TLDR In this blog post, the focus is on the challenges and complexities of en-bloc transactions in Singapore's property market....
Read More
Jayson Ang – January 13, 2023 – Share
TLDR When it comes to new property launches, timing is crucial. Early buyers often secure the best prices due to...
Read More
Jayson Ang – October 5, 2024 – Share
Singapore, a bustling city-state known for its impressive skyline and thriving economy, is home to some of the most desirable...
Read More
Jayson Ang – June 6, 2023 – Share
5 Things to do When You Go For A Property Viewing In Singapore Here are 5 things to keep in...
Read More
Jayson Ang – March 21, 2025 – Share
The property market in Singapore is a thriving and lucrative industry, attracting both local and foreign investors. However, with the...
Read More
Jayson Ang – January 5, 2023 – Share
TLDR When upgrading from an HDB flat to a condo, consider factors like location proximity, amenities, and regulations. Decide whether...
Read More
Jayson Ang – February 5, 2025 – Share
Singapore, a bustling metropolis known for its stunning skyline, offers an array of vantage points to witness the city's architectural...
Read More
Jayson Ang – July 14, 2024 – Share
Singapore's prime district properties continue to be in high demand due to a combination of factors that make them attractive...
Read More
Jayson Ang – April 9, 2023 – Share
TLDR The increasing trend of right-sizing properties in Singapore is driven by various factors such as lifestyle changes, financial gains,...
Read More
Jayson Ang – December 30, 2023 – Share
TLDR The Singapore property market has seen a slight dip in private home prices after a significant increase over the...
Read More
Jayson Ang – September 18, 2024 – Share
TLDR When deciding between a new condo or an older resale unit, consider the differences in design features. Older condos...
Read More
Jayson Ang – July 4, 2024 – Share
The vibrant property market in Singapore has attracted numerous investors and speculators looking to profit from the nation's thriving conditions....
Read More
Jayson Ang – December 10, 2023 – Share
TLDR When it comes to navigating the ups and downs of the Singapore property market, timing is crucial. Three real-life...
Read More
Jayson Ang – July 30, 2023 – Share
TLDR When bidding farewell to your rented property, ensure the safe return of your security deposit by: Regular Aircon Servicing:...
Read More
Jayson Ang – October 25, 2024 – Share
Singapore, a bustling city-state known for its modern architecture and vibrant culture, is also home to a plethora of hidden...
Read More
Jayson Ang – March 29, 2023 – Share
TLDR Best practices for first-time homebuyers, the key points include setting clear and detailed goals, planning a realistic housing budget,...
Read More
Jayson Ang – April 26, 2024 – Share
The Singapore property market has always been a hot topic for both locals and foreign investors. With its stable economy,...
Read More
Jayson Ang – December 31, 2022 – Share
TLDR When deciding to sell your house in Singapore's competitive real estate market, timing is crucial. Selling during a seller's...
Read More
