United States President Donald Trump and North Korean leader Kim Jong Un met for the first time in a historic summit in Singapore on Tuesday (June 12) -Straits Times photo
Market watchers are seeing an increased demand for the Singapore residential property market from foreign investors and house hunters after the successful Trump-Kim summit held in Singapore on 12 June 2018 with many observers and academics calling the Trump-Kim summit a turning point and a historical moment for the world.
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.
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.
This will mean market recovery and stability for many Asian countries with foreign investors from Europe and Americas looking southwards towards Asia and South-East Asia, Property markets are set to benefit from foreign investor's attention as Asia has seen a robust performance as compared to Europe, North America and South America as well as the Middle East.
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.
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.
Singapore's property market is attractive to foreign investors due to stable government, banking & property laws
This boost of confidence in Asia coupled with increasing political uncertainty in Europe and questions surrounding US policy toward trade relations with China - one of America's largest trading partner whom bilateral trade is critical and a trade war would be more detrimental to America than China according to economists.
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.
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.
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