Singapore ranks second as preferred city for Asia Pacific investors

/ EdgeProp Singapore
January 21, 2021 12:35 PM SGT
Singapore property investment - EDGEPROP SINGAPORE
SINGAPORE (EDGEPROP) - Singapore has taken second place as Asia Pacific investors’ most preferred market for investments, according to a CBRE 2021 survey.
Tokyo has retained its top position as the most preferred city for cross-border investment, attributed to the availability of high-quality assets and strong liquidity in the Japanese city. In fact, the city has made the top-three investment destinations since 2018. This is followed by Seoul, ranking third.
Shanghai, Beijing and Shenzhen have taken the fourth, sixth and seventh places respectively, with investors likely attracted by China’s relatively quick containment of the pandemic and swift economic recovery, says CBRE.
Another major mover is Ho Chi Minh City, which has taken fifth place for the first time. “Ho Chi Minh City has already been on the radar of investors in recent years, especially those who are looking to invest in Southeast Asia, as the city is viewed as having the potential for greater appreciation in property values and higher yields,” observes Desmond Sim, head of research, Southeast Asia, CBRE.
“Singapore remains an important hub for foreign corporations looking to access Southeast Asia. Although CBD rents declined in 2020, rents are forecast to display growth over the next three years, supported by low vacancy and strong demand,” Sim says.
“We expect office demand in 2021 to be fuelled by Chinese technology firms and non-bank financial services firms such as investment managers and hedge funds,” he adds.