Singapore has always been a popular choice for relocation – to work, live, study and retire. Even with the pandemic, Singapore real estate is still quite popular with homes still being snapped up during circuit breaker.
With movement restriction, interest has still not wavered and funds are still moving into Singapore real estate. Why? Let’s find out the 5 reasons foreigners are still shopping for property amidst the gloomy economy outlook.
1. Business-friendly Environment
Singapore is one of the easiest place to conduct business. 15 minutes is almost all it takes to register the company online with a fee less than $500, convenient and easy even if one is not here, yet. The competitive tax rates are also a bonus reason to live and work here. There were many funding programmes available to support startups, business growth and development even before the onset on the recent challenging economic situation. The measures (eg. loans, rental waivers, deferments, training funds, job support scheme, training program etc) rollout help not only business owners, self-employed as well as employees to better reassure their livelihoods, making reemployment easier even if there is an unfortunate loss of jobs.
2. Tops Quality of Living Ranking in Asia
Singapore has the highest quality of living in Asia according to to Mercer’s 21st annual Quality of Living, providing a very conducive environment for doing business and living. Staying in Singapore, residents enjoy political stability, good job opportunities, clean and green garden city environment, affordable high-standard housing with great convenience to amenities, excellent connectivity, healthcare and education. In addition to one of the safest city, the new smart nation digital transformation is going to enhance the local living quality further.
3. World-class Healthcare System
Many from over SEA as well internationally has been making their way here to seek for treatment in view of our widely recognised healthcare system. There are plentiful of clinics and hospitals easily accessible all over the island to public with a good amount of private ones available in the central region. With the recent Covid-19 situation that is taxing on all healthcare systems globally, our little island has done quite a relatively good job in supporting residents to have themselves checked and treated. At the early onset of the pandemic, the government has encouraged early seeking of treatment by designating clinics where residents (citizens and PR ) can get subsidised treatment for respiratory illnesses.
4. Excellent Education System
Singapore is one place that values education and definitely has one of the best education systems globally. Singapore has topped in Programme for International Student Assessment PISA 2015, 2nd for PISA 2018, a worldwide study done by Organisation for Economic Co-operation and Development (OECD). Our local universities and tertiary institutions also has excellent global ranking with both NUS and NTU sharing the 11th position in the world, 1st in Asia in Quacquarelli Symonds (QS) World University Rankings (2020). Parents can rest assured sending their children to local schools with Singapore being one of the safest place in the world. And in any case if the little ones are not used to local schools, there are a good variety of foreign/international schools to choose from.
5. Convenience! Convenience! Convenience!
Finally, living in Singapore is all about convenience too – getting anywhere around in Singapore is so convenient even if not owning a vehicle. Majority of the residential homes are within short walking distance to a train station or bus stop. The Circle line, Thomson East Coast line as well as the Cross Island line greatly expedite the journey from East to West to North. For non-drivers who still like to move around the city by car, there is always Grab or taxis available.
The convenience doesn’t just stop at the connectivity, most homes are within a 10min walk to the nearest mall, supermarket, shop or eatery. With the spurt of integrated developments, now residents can live, take a bus or a train, attends lessons at community centre, shopping all within their development compounds.
If you would like to know more on living in Singapore (environment, loans, schools, taxes etc), feel free to have a chat with us.
