London continues to remain the preferred destination for investments in the real estate sector for Singaporeans. The island nation’s popular news media The Strait Times has reported that following the UK’s referendum on leaving the EU, the interest levels among Singapore investors to snap residential properties in London have not changed.
Leading developers are quoted saying that the London property market remains robust as far as Singapore investors are concerned. Interestingly, among the prospective investors are first-time home buyers, who are looking beyond Singapore for a second home or a buy-to-let property for an attractive ROI.
There are two factors that are prompting Singaporeans to invest in the London property market. Firstly, the imposition of a tax on second homes owned by Singaporeans is drawing them to London. Secondly, the weakening pound has given the investors the exchange rate advantage, as they are paying less than before for a residential property in London.
Strawberry Star, which has a full-fledged office in Singapore, is also witnessing a significant increase in the number of inquiries from local residents seeking investment advise for London housing market. There is no doubt that the fundamentals of the London housing market are strong and the ROI from long term perspective is unmatched.
If you are interested in acquiring a residential property in London, contact our expert agents by calling any of our global offices.
Most property experts attribute the strong Singaporean interest to London's market fundamentals, such as the huge shortage of housing compared with demand