FOREIGN INVESTMENT IN REAL ESTATE
Today, foreign institutions and foreign high net-worth individuals form nearly 25 percent of private residential property buyers. The majority of foreign buyers are from Indonesia, Malaysia, India, China, Korea, United Kingdom, United States and Australia. Foreign institutional investors include funds and companies from Germany, Middle East, Australia, United States, Europe and Asia. Singapore is an attractive location for investment for these key reasons – its strong economic fundamentals and good economic, social and political management, the quality living environment it offers and its strategic location within a few hours’ flight from the major cities of Asia. Singapore has leveraged on the wave of growth of the region and is among the fastest growing economies in Asia. From an economy relying on export and manufacturing, Singapore’s growth is now driven by a diversity of engines: financial services, logistics, education, medical services, biomedical sciences and research, information communications, construction and tourism. The planned expansion of its population from 4.8 million to 6.5 million will be another important growth factor. More than US$55 billion have been committed in the last two years in business and real estate infrastructure including new initiatives to attract global investors and tourists. These include the Singapore Grand Prix, the first Formula One night race in the world; the Marina Bay Financial Centre which is an international business and financial hub; the Marina Bay Sands Integrated Resort developed by Las Vegas Sands; Resorts World at Sentosa with Universal Studio; the 101-hectare public Gardens by the Bay on prime waterfront land; Singapore Flyer and Theatres by the Bay; and three super malls along Orchard Road, Singapore’s prime shopping district. These attractions will turn the country into an even more exciting place for all to live, work, and play in. |