Why is Singapore Attracting Ultra-rich Property Investors"
The Covid-19 pandemic has hit the global economy hard, but Singapore's property market is on the rise. Find out why.
The post Why is Singapore Attracting Ultra-rich Property Investors" appeared first on LUXUO.
Image: LUXUO
The Covid-19 pandemic has caused massive global economic disruptions across many sectors. According to a report by the United Nations Conference on Trade and Development (UNCTAD), a loss of up to $4 trillion to the global GDP over 2020 and 2021 is expected.
In the midst of this strife, however, a few countries have found their footing and begun making headway. One such country is Singapore. While the island nation was not spared economic disruption ? the government recorded the worst full-year (2020) recession since independence ? Singapore’s Ministry of Trade and Industry (MTI) recently upgraded the country’s GDP growth forecast for 2021 to ?six to seven per cent?, from a previous estimate of ?four to six per cent?. Thanks to well-managed crisis control, Singapore also reported a year-on-year GDP increase of 14.7 per cent in the second quarter of 2021, a much stronger growth than the 1.5 per cent reported in the previous quarter. Numbers like these are making the city-state very attractive to ultra-rich investors in the region. Singapore is seeing a boom in companies ? especially from the tech industry ? setting up shop there.
One area where we’ve seen Singapore reap the benefits of excellent crisis control is its realty market. In...
The post Why is Singapore Attracting Ultra-rich Property Investors" appeared first on LUXUO.
Image: LUXUO
The Covid-19 pandemic has caused massive global economic disruptions across many sectors. According to a report by the United Nations Conference on Trade and Development (UNCTAD), a loss of up to $4 trillion to the global GDP over 2020 and 2021 is expected.
In the midst of this strife, however, a few countries have found their footing and begun making headway. One such country is Singapore. While the island nation was not spared economic disruption ? the government recorded the worst full-year (2020) recession since independence ? Singapore’s Ministry of Trade and Industry (MTI) recently upgraded the country’s GDP growth forecast for 2021 to ?six to seven per cent?, from a previous estimate of ?four to six per cent?. Thanks to well-managed crisis control, Singapore also reported a year-on-year GDP increase of 14.7 per cent in the second quarter of 2021, a much stronger growth than the 1.5 per cent reported in the previous quarter. Numbers like these are making the city-state very attractive to ultra-rich investors in the region. Singapore is seeing a boom in companies ? especially from the tech industry ? setting up shop there.
One area where we’ve seen Singapore reap the benefits of excellent crisis control is its realty market. In...
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