UK based Overseas property portal Homesgofast.com is advising its real estate agents and developers to focus their efforts on attracting investors from Singapore. At the same time recent Knight Frank research found that Singapore investors formed the third-largest group of international buyers of prime London properties from July last year to June this year.
A report in the Singapore TODAY newspaper which is distributed free in Singapore notes that while there has been a decrease in property transactions within Singapore, there has been a pickup in marketing efforts for overseas properties from as near as Malaysia to as far as the United Kingdom.
Singapore property investors are increasingly attracted by potential opportunities overseas as the local market takes a breather. With the current low savings rates, they are looking for better yielding assets to park their money.
Company director at Homesgofast.com Nicholas Marrââ¬Â We have seen a renewed interest in UK and European properties from Singapore based investors and it makes sense for property professionals to target the region. Investors are now looking away from the local markets to snap up overseas property that provides better returns than local banks or stocks.ââ¬Â
Smaller than New York City and the only Southeast Asian nation without natural resources, Singapore has grown 189-fold since independence in 1965, helping boost GDP per capita to $36,537 last year from $512. Singaporeââ¬â¢s gross domestic product will cap its fastest annual growth this year since independence, rising as much as 15 percent to about $210 billion
