When people feel economically secure, they will invest in the property markets of stable countries which offer the highest potential for future growth.
(PRWEB) October 12, 2011
Property prices here look set to remain stable in the foreseeable future, with key home-buying factors such as investment and upgrading still expected to drive demand. This remains true, despite the anticipated slowdown in Singapore's economic growth stemming from the debt crisis from the United States and Europe, says leading local company registration specialist Rikvin Singapore.
The booming property market may be just another indicator of the local economy, says Satish Bakhda, Rikvin’s Head of Operations. When people feel economically secure, they will invest in the property markets of stable countries which offer the highest potential for future growth.
Recent local media reports have pointed to Chinese from China as the largest buyers of private property in Singapore, as they feel that it is a good place to live and do business in.
The proportion of mainland Chinese buying residential property in Singapore increased by 3% in the fourth quarter of 2010, pushing the proportion of Chinese buyers in the market to a new high of 19%, up from 15% in 2009. They are expected to continue with their buying spree, according to Chua Chor Hoon, head of DTZ South East Asia Research.
The Chinese are not the only ones. Many Indonesians also mark Singapore as their favourite investment destination because they believe Singapore is safe, representing political stability and economic success, said Ong Teck Hui, head of research and consultancy at Credo Real Estate.
Overall, the outlook for the market is cautious but not pessimistic, said Mr Ong Kah Seng, senior manager of Cushman & Wakefield for Asia-Pacific.
"Singapore and Asia, in general, remain one of the safer places to invest in," he said. "If you look at the trends, funds - together with the jobs and business operations which are lost in non-performing markets - are often diverted to the region, and especially to Singapore as it is now a centre of growth".
Rikvin offers business solutions for both local and foreign investors and entrepreneurs. The firm’s specialties include company incorporation services, offshore company setup, incorporation and other related corporate services. Rikvin also provides professional services on accounting, taxation, immigration and application of Singapore work visa for foreign workers to work and relocate in Singapore. For enquires on local business compliance issues, visit our website at http://www.rikvin.com/.
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
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