The prime residential rents increased by 42 percent between 2021 and 2023, as the city shifted from “recording fresh outflows of people ” to net inflows.
Meanwhile, real estate investment volumes remained stable. This is not a small achievement considering the global economic contraction and uncertainty. Singapore’s future is also well-positioned because of a thriving tech scene.
Venture capital investment, for example, increased from US$8,2 billion in 2020 to US$9,4 billion in 2030 despite a worldwide reduction in volume.
Singapore’s position is expected to improve over the next 10 years
This makes these cities attractive to investors and occupiers.
Four key areas were analyzed that included a city’s economic strength the knowledge economy, technology as well as environmental social and corporate governance (ESG) as well as the real property investment.
SINGAPORE has increased six spots to become the sixth most resilient city in the world, up from the 12th spot in 2021.
According to the annual global index from real estate consultancy Savills, which tracks the resilience in 490 cities across the globe.
New York claimed the top spot for the second time in two weeks.
It was followed by Tokyo, London, Seoul and Los Angeles.
Resilient Cities index that was released on Monday 25 March, evaluates the resilience and well-being of a city through its ability to support its residents’ and workers’ performance in the in the face of environmental, economic technological, social and other changes.
For Singapore the influx of people choosing to reside and work in Singapore has contributed to its climb.
The Urban Redevelopment Authority Master Plan 2025 includes urban resilience among its main subjects.
As sellers and buyers reappear to the city-state, it is likely that they will witness more investment transactions until 2024.
Singapore’s stability in the political arena, its the status of a safe-haven and a robust economy are expected to draw more investment interest.
There’s a clear connection between the economic base and the strength of a city. In turn, real property investors are still focusing on bigger cities, notably those with a deep and broad economic base.These cities are likely to experience a reversal in the coming year as financing conditions improve and investment in real estate are expected to increase, according to Savills. Climate changes and ESG issues are now an important issue, and can impact the economic growth.