The UK - and London in particular - is known as being a real hotspot worldwide for those who are looking to get themselves an investment in tangible assets that will give them a real potential for return in the future through the property sector.
And now, as nations around the world start to recover from financial crises that struck the majority of economies, residents are becoming more confident about spending and are subsequently on the lookout for a chance to invest their money wisely, which is where the strongest and most resilient overseas property markets come into the equation.
This is being seen in the UK at the moment, with the latest reports showing that there are now more people from the Far East putting their money into the property sector, with Singaporean nationals being among the most prominent at the current time.
According to the latest statistics released by HM Revenue & Customs, sales of UK homes rose by a fifth on an annual basis in the first three months of 2014, spurred by a growth in the number of people coming from overseas to buy here. It was the busiest quarter since the market hit its absolute pre-crash peak in early 2008.
And now David Cheong, associate director of RE/MAX Singapore – Real Centre Properties and principal trainer and director of the Real Centre Academy (RCA), has told Opp Connect that the reasons for Singaporeans buying in London are two-fold.
On one hand, they see the safe havens such as the UK as the perfect places to protect their money. “With guaranteed rental yield assurance, better pricing with relative to Singapore local market, low interest rate and little fluctuations in foreigner investment policies, I think UK properties will continue to be attractive," said Mr Cheong.
As well as this, the pound is currently weaker than the Singapore dollar, which means that they are able to get more for their money when putting their cash into the UK.
Singapore is a very interesting market, as well, because it shows us why people often choose to buy outside their own nations. In Singapore at the moment, low interest rates have meant that property prices have been in a period of boom, sending them too high to make for a realistic long-term investment.