Singapore is world’s 5th most significant property market: Savills

Singapore houses have recorded capital increase of 105% over the previous 10 years.

The report noted the positions are based on a city’s international connectedness, economical performance, power and competitiveness.

“We have combined (their study results) that seem to best get the attributes that make cities powerful and important property markets for both occupiers and investors,” said Savills.

Internationally, the top place was clinched by London, followed by New York, Paris and Tokyo. Hong Kong took sixth place, followed by Sydney and Los Angeles. Completing the top ten are Dubai and Chicago.

“Our city rating evaluation highlights two things: first, that rent amounts and growth are dependent on cities achieving – and then maintaining or growing – their competitive advantage against other global cities.

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Dubai and Singapore are growing, while Hong Kong and Moscow have moved down the rankings,” noted Savills.

In addition, Singapore recorded the maximum residential capital growth of 105 percent since Savills began collecting such data a decade past.

Mumbai saw the largest increase of 184 percent, followed by Shanghai (173 percent) and Hong Kong (167 percent). London and Sydney took the fourth and fifth places at 137 percent and 121 percent .