Formerly ranked as 4th, high-end properties in Singapore are now 7th among the most expensive luxury overseas properties in Asia.
High-rise Singapore properties
According to ECA International’s latest survey, which compared 230 locations usually rented by expatriates for their overseas property investment, Singapore descends three spots.From being last year’s fourth most expensive, Singapore now holds the seventh spot. Meanwhile, Hong Kong remains to be the most expensive in the region.
Experts say this is because of stabilised number of expatriates in Singapore, as well as the improved transport links. Another reason is that Singapore has more assignees from neighbouring countries such as China, Taiwan, Malaysia, and Thailand. These countries also have reduced rental prices compared to properties in Singapore.
Among the expatriates’ favoured Asia properties are located near international schools, embassies, and other entertainment hubs. According to the survey, rents for an unfurnished three-bedroom Singapore apartment found in such areas are priced at an average of S$6,426 per month.
Yazhou Property blog brings you the latest on Singapore property news as well as updates on the Singapore property market. Moreover, you can find Singapore properties and guidelines on overseas property investment via our Facebook page.