Singapore Property Success Story

Just five short years ago there was a commonly held belief that Singapore’s economy was about to constrict and that the state would lose out in terms of competitiveness to the likes of low-cost China and India and become less relevant as a distribution and servicing port which would result in per capita GDP wealth reduction and a period of recession in Singapore…but today Singapore (and more relevantly to us, Singapore property) is a success story.

The latest news from the Republic is that Singapore is now in its fifth straight year of economic growth and that the property market in Singapore recorded record sales in the first half of 2006 - so much so that the GDP growth predictions and property market statistics have all had to be positively re-evaluated for 2006 and beyond.

Singapore is an incredibly dynamic little country and one that was ready to diversify when the need presented itself.  Its geographic confines have not restricted its output but they have resulted in ever increasing property prices as the continuing success of the business climate in Singapore has resulted in sustained demand for a limited supply of real estate.

Currently property in Singapore as an investment commodity is a successful asset and if the Republic can continue its drive towards economic diversification resulting in growth sustainability, real estate will continue to represent a solid and dependable capital appreciating commodity.

Underlying the economic success of Singapore is the fact that the government has been incredibly quick to react to the requirement for change – so much so that they have cut taxes, relaxed restrictions, slashed fees, and effectively reduced the labour costs, start-up and business running costs and as a result they have not only retained their international businesses but they have increased the number of companies and businesses seeking a presence in the Republic.

The government has proved it will be as dynamic as it needs to be to ensure economic success is synonymous with Singapore.  Their efforts have paid off - according to a Bloomberg report Singapore’s economy in Q2 2006 expanded at three times the rate expected and overall expansion in the region of 9.4% was experienced between January and June 2006 this year which now puts the Republic on target for annual GDP expansion of up to 7.5%.

These figures are impressive – and underpinning them are many great factors including the overall and ongoing success of the real estate market.  Property experts at CB Richard Ellis have revealed that to date this year Singapore property transactions have totally smashed the figures for the whole of 2005.  So far in 2006 over nineteen billion Singapore dollars worth of property related transactions have been processed with over thirteen billion Singapore dollars worth being moved in the first half of the year – a figure an incredible three times that of the same period of 2005…in fact, in 2005 the entire year’s property market takings were less than those of the first half of 2006!

As Singapore’s economy goes from strength to strength so does its real estate sector and Singapore property continues to be an out and out success story. 

Special Reports: Property News for Singapore

Singapore Property Investment Potential
Residential, retail and commercial property opportunities abound in Singapore for the property investor seeking medium to long term profits

Singapore Property Buyer Guide
Foreign buyers are subject to a number of restrictions when it comes to buying investment property in Singapore

Singapore Real Estate Investor’s Introduction
Fiscal stimulus in Singapore is proving positive for the real estate investor seeking growth and yield on luxury end property