Although Singapore’s housing market is cooling, Singaporeans remain top buyers of overseas property, according to Black Brick.
The property buying agency revealed that Singaporeans are its biggest spenders from East Asia for UK homes, with an average deal size of S$8.5 million.
The firm’s team assists high net worth clients from all over Asia, including many affluent Singaporeans.
And with the recent Singapore Budget forecasting a growth rate of two to four percent in 2015, Singaporeans will be wealthier and likely to invest even more, said Camilla Dell, Managing Partner of Black Brick.
Specifically, London is seen as a property investment hotspot, and Temasek Holdings is reportedly a major investor in what will be the city’s tallest skyscraper when built.
“Whilst some international property markets are starting to cool, this is not the case in London’s high-end property sector. London property can be a very attractive investment opportunity for investors and our clients are seeing consistently high and growing returns.
“Buy to let Landlords can expect to achieve up to a 4% yield in some areas of London, and with forecasts predicting between 20 to 25% capital appreciation over the next 5 years, for many of our international clients, London is still an attractive asset class,” shared Dell.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
