This greatly boosted the prospects of finally seeing peace in the Korean Peninsula and marks the eventual removal of the decades of constant threat of a devastating nuclear war in Asia.
High-net-worth foreigners and foreign investment firms are beginning to scan Asian cities for properties to invest in and one of the prime destination is Singapore for its safe investment environment and stable political climate.
The Singapore housing sector has recently rebounded after home prices fell 12 per cent from the last peak in 2013. At the same time, household income has improved, resulting in housing affordability - measured by private home price-to-income ratio - falling to a 20-year low. The high-end residential segment, especially, would find itself the centre of foreigners' interest again, he said. This segment is the most dependent on foreign demand and has suffered the brunt of existing curbs. Prices have fallen so much that their median per square foot prices are now at a 62 per cent premium over mass market condominiums - near a 10-year low.
Property and investment analysts are expecting Asia and Southeast Asia to attract more foreign investors therefore improving real estate returns to Asian and Singapore property markets.