12 Reasons Why Singapore Remains An Attractive Top Investment Destination
Updated: May 12, 2020
12 Reasons Why Singapore Remains An Attractive Top Investment Destination
While the whole world is battling against Covid-19, Singapore is no exception.
Since January 2020, our island has been taking several measures to contain the virus. This widespread virus has escalated into a pandemic and caused panic across the world.
Many lives were lost, businesses shuttered, jobs lost and life disrupted. Many countries went into a lock down mode in a desperate attempt to contain the dreadful pandemic.
As for the real estate sector, all showflats in Singapore were closed. No physical viewing of any properties are allowed. These are amongst some of the ways to curb the spread of the Covid-19.
There are many questions regarding the uncertainty of real estate sector.
- Will the property market crash?
- Will the real estate sector continue to thrive after the whole pandemic crisis is over?
- The world have never had a pandemic for over a century, are we able to overcome and emerge strong from all the uncertainty?
Well, all these are legit concerns, let us study further and take a look at the current situation in China.
Covid-19 started in China, with the city of Wuhan as the epi-centre. During the severe outbreak in China, the country's economy came to a standstill, including the real estate sector. Like in Singapore, China has closed all showflats and prohibit physical viewing of properties.
Property sales in 30 major cities across China has rebounded threefold in March 2020... But, what has it got to do with Singapore?
With the large scale of discruption, many people would expect property prices to fall after China ease lockdown restrictions. However, it was reported that property sales in 30 cities across China has rebounded threefold in March 2020 with more than 355,000 units sold. But, what has it got to do with Singapore?
Well, China is still in the midst of recovery and the sales number is expected to increase. Apart from investing within China, many Chinese has considered Singapore as their top favourite investment destination. We would expect strong demand from China as well as other countries. Let's take a look at why is this so!
Singapore is one of the most desirable cities in the world when it comes to foreign investment. Factors such as its global economic standing, stable political landscape and support for innovation, to name a few, are the considerations that investors will consider when parking their cash.
While there are many other contributing factors that have made Singapore a top investment haven, I have selected 12 reasons that make Singapore an attractive Top investment destination for property investors, multi- national companies as well as budding entrepreneurs.
If you are pressed for time, here are the 12 reasons in simple point form, otherwise read on to find out more.
1. Most Competitive Economy
2. Easiest Place To Do Business
3. Zero Capital Gains Tax
4. Top Foreign Investment Hub
5. Political Stability
6. Least Corrupt Country
7. Stable Social Climate
8. Safest City In the World
9. Best Place for Expats to Live and Work
10. High Quality of Life
11. Best Place to Raise Children
12. Best Education
1. Most Competitive Economy
In a survey conducted by the Institute Management Development, Singapore emerge to the top and overtook United States as the Most Competitive Economy. This was driven by its advanced technological infrastructure, favorable immigration laws, availability of skilled labor, and efficient ways to set up new businesses.
Economists considered competitiveness as vital for the country's economy health in the long-term. This empowers businesses to achieve sustainable growth, create jobs and, ultimately, enhance the welfare of its citizens.