Weak currency is a main draw.
Australia, the United Kingdom and Japan are the top three destinations for Singaporeans looking to invest in overseas property, revealed a survey commissioned by property investment company IP Global.
Almost a third or 32% of investors said that they would consider investing in Australia, while 16% would consider buying property in the UK and 13% will consider investing in Japan.
The Singapore dollar’s strength is behind property investors’ interest in these countries, the survey said.
The rising value of the Singaporean currency – which has strengthened against the Australian Dollar, British Pound and the Japanese Yen over the past 12 months – coupled with the rising property prices in has made these countries an attractive destination for Singaporean investors.
The Singaporean dollar has strengthened almost 30% against the Australian Dollar and more than 14% against the Japanese Yen since the start of 2013. It has also started rising steadily against the British Pound, gaining 8% in just the past five months.
“All of the top three destinations have a developed real estate market and well-defined rules and regulations governing the sector. This adds to their attractiveness for Singaporean investors who are wary of investing in countries where they lack understanding of local regulations in the sector,” said Alex Bellingham, Director, IP Global.
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