Property boom adds spice to Singapore’s global appeal

Currencies Direct May 21st 2007 - < 1 minute read

Increasing numbers of British buyers are taking advantage of Singapore’s property up swing, propelling the nation into the top ten of Currencies Direct’s Global Emerging Markets Index. The Index, released today by the UK’s number one non-bank provider of international payments services and commercial foreign exchange, is based on the number of foreign exchange transfers undertaken by Currencies Direct to emerging market regions in any given month.

The property boom is partly led by Singapore’s advancing efforts to re-brand itself as a premier world city making it an increasingly attractive investment option for Brits looking to capitalise on overseas property. With its huge modern port and first-class infrastructure it is fast becoming the preferred location for businesses in Asia, further attracting foreign investment and fuelling rising property values.

Mark O’Sullivan, head of trading at foreign exchange specialistCurrencies Direct comments, “Property prices in Singapore rose by about 10% last year and it looks like this is just the beginning of a long growth cycle within the market.” O’Sullivan continues, “As more and more savvy Brits begin to recognize Singapore’s investment potential, I fully expect to see the country climb higher up the league table in the near future.”

The table below outlines this month’s top ten emerging property hot spots, along with a comparison on last month’s positions:

Position

Country

Movement

1

Dubai

=

2

Bulgaria

=

3

Turkey

+1

4

India

+1

5

Hungary

+4

6

CzechRepublic

+2

7

Poland

-1

8

UAE (excluding Dubai)

-1

9

Singapore

Re-entry

10

Thailand

-7

*The Index excludes established overseas property markets such as Spain, France and the US.
**The majority of the Currencies Direct transfers are made by
UK residents looking to emigrate or purchase property abroad.

Written by
Currencies Direct

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