Singaporeans are increasingly aware of the value in overseas property investments, with some properties in the United Kingdom seeing as much as 60 per cent of its buyers hailing from this little red dot. The 999-year leasehold 20-unit Highwood House is one such piece of real estate. Units range from 386 to 831 sq ft and start from £590, 000.
Overall, Singapore property investors made up 40 per cent of buyers in British private residential properties, spending an average of £700,000 ($1.3 million) per investor per property. Not unlike buying property in Singapore, in the UK, buyers also lean towards apartments which are near schools, universities, transport nodes as well as the prime London retail shopping zones and attractions such as the Thames.
The rise in the number of Singaporean investors in the UK could also be due to the increase in the number of launches here and in Asia. CBRE alone brought in 9 British property launches in 2011, and 11 more in 2012. This year, they are planning 18 launches to draw buyers to potential homes in the UK. The Singapore Dollar’s rise against the sterling, and the sheer number of new properties in the prime central London area are reasons enough to bring in the numbers for these residential developments.
Properties which have quickly been picked up by Singaporeans and Malaysians at their Asia launches include the 237-unit Fitzroy Place, the 214-unit Fulham Riverside and the 28-unit Regents Gate House which catered to a niche market of high net-worth investors. As the global and local property markets evolve and adjust to each other, it will be prudent for investors to keep a constant update on property news and new property launches as well as attend property talks and seminars.