Asian property markets look like they are still booming ahead. Among various regions, Southeast Asia has some of the most promising and strongest economies, thus making it the most ideal investment, especially when it comes to supporting a thriving and emerging property market. At present, the key question asked, which was particularly raised in this thread, is which region amongst Southeast Asian cities is the most ideal location to invest in.
Of course, the criteria for determining the best location entails more than promises of enormous potential for market appreciation and rental returns. One also needs to focus on the city’s fiscal policies, political environment, and the country’s economic growth including the city’s own progress.
Among the cities that had been mentioned by members in the forum, Singapore had been given the best support. It has emerged as the top choice among the participants in the forum. In fact, the support listed by the participants include the high property prices, a massive financial center, sound government policies, stable political environment, low crime rates, an influx of immigrants and young professionals, and the new integrated resorts that are coming up. In addition, Singapore is considered as the hedge fund capital of the world.
Thus, the runner-ups in this forum include the cities of Cebu in the Philippines, Kuala Lumpur of Malaysia, and Pattaya in Thailand.
Hence, Singapore properties are now in demand as much as ever. This is partly due to the ratification of the 2005 strata-titled properties, which allows foreigners from owning apartment units within a building without the need to obtain approval from Singaporean authorities. Hence, the old rule of buying apartments within 6-storey buildings or more no longer applies.
The old rule only applies when purchasing a condominium instead of an apartment. Property acquisition by foreigners or land-title properties in Singapore, however, still requires an approval from the Singapore Land Authority.
Yet, in spite of these, the overall purchasing of properties in Singapore has been much easier, both for local and international buyers due to the implementation of various leniencies on the property market. Hence, this had increased a demand that resulted to increasing property prices.
Supporting this property growth is the country’s continuously strengthening economy. In the last two years, there had been a 10.2% in crease in residential properties. This is true while property prices have seen a 15.8% growth since 2004. These prices had become apparent because the market has also increased. Thus, despite the growing prices, the people still continue to buy properties in Singapore.