Although Singapore is considered one of the most modern cities of Southeast Asia with endless skyscrapers and strong physical infrastructure, the island is filled with lush pockets of greenery not completely overwhelmed with development.
The multicultural city-state has always been a safe haven for local and foreign investments, thanks to the country's economic and political stability, high standard of living, low taxes and transparency. The average property price in Singapore is ranked third highest in the world due to its dense population (5.7 million people) and steady demand for residential property.
Over the course of Singapore’s real estate history, its track record showed that it has quickly recovered from economic down turns and it has grown steadily and significantly after each recovery.
As Singapore emerged from the global financial crisis, prices increased on average over 15% per annum from early 2009 to 2013. The government then introduced cooling measures to cope with rising prices by implementing a stamp duty increase for second-home purchases and foreign owners, and loan-to-value (LTV) limits. This led to a fall the market to fall 11.6% for the next four years from peak 2013 to 2017. After the prices rose again by more than 9% in 2017, the government further tightened restrictions to stabilize the market.
The market had started to record modest growth in 2020 when the pandemic and subsequent lockdowns caused a drop in sales over the next year. Nevertheless, sales quickly recovered as restrictions eased due to pent up demand and low interest rate environment. Foreigners and Permanent Residents accounted for 22.1% of total purchases in Q1 2020 but dropped to 17.4% by Q4 2020. Foreign investors are likely to return driven by the country's optimism and the government's ability to manage the pandemic and stabilize the economy.
Regarded as the shopping haven of Singapore with wide array of branded and luxury stores, District 9 comprises of Orchard Road, River Valley and Killiney. Besides shopping, district 9 is also known for being the art and education hub of the city as it is home to the prestigious Singapore Management University (SMU), School of the Art (SOTA), Nanyang Academy of Fine Arts (NAFA) and Singapore’s Art Museum (SAM). River Valley serves as a prime residential area with high-end apartments, condos and affluent estates.
District 10 is a place that offers both the scenic views of the mountains and closeness of city life. It comprises of Bukit Timah, Farrer Park, Holland Village and Tanglin. Some highlights of the area include luxury homes, a forest reserve, a horse racing track and the highest hill in Singapore and delectable food. Bukit Timah is an attractive residential area for well to do Singaporeans and expats while Holland Village is popular shopping and dining destination among the younger people.
District 11 mainly consists of exclusive private housing areas, large reservoirs and renowned schools and comprises of Novena, Newton, Dunearn Road. Homes in Novena are generally more expensive due to its prime location and amenities. Newton is famous for its food centres, specifically the Newton Food Centre.
This round-the-clock vibrant commercial district and financial center offers prime office space and wide range of complementary uses for their live-in population of the area. At the southern end, adjacent to the existing city centre, sits the Marina Bay area which has been redeveloped with excellent infrastructure and world-class cultural and entertainment facilities for quality working and living environments.
Sentosa is the only place in Singapore where non-Singaporeans are allowed to buy landed property, and its residents are largely made up of foreigners and expatriates with a mix of families, couples and single professionals. The epitome of luxury living, Sentosa has a wide range of waterfront houses, hotels, resorts and amusement parks.
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