Singapore has become one of the biggest providers of foreign investors in a number of countries across the globe, according to a new report that suggests the nation has surpassed one of its most prolific Far Eastern neighbours.
According to Knight Frank in its "Global Cities: The 2016 Report", Singapore now sees more money flowing into property markets in the UK, US and Australia than China does. This makes Singapore the biggest foreign investor in the whole of Asia, the report says.
In the last two years, the amount of money spent in these three nations alone by Asian investors as a whole has totalled $78.4 billion. Of this, just under a third has come from Singapore alone.
Singapore has also spent more than the likes of Malaysia, even though investors from this nation have grown in prominence somewhat over the course of the last few years.
When it comes to what investors from Singapore are buying, Knight Frank said that Australia is the biggest market, thanks to the relatively low value of the Aussie dollar. This allows Singapore based investors to get themselves a better quality property without having to spend big as they might have done in the past.
In addition to this, they are also spending a lot of money in the UK and US because of the very secure state of these nation's property markets. The safe haven nature of cities such as London and New York makes them ideal investment hotspots.
One area that has seen a real dip in popularity among Asian buyers in the last few years has been mainland Europe. Although the continent has the benefit of a relatively weak currency at the moment, the fact that it has seen property prices plummet in recent times has kept some people across Asia from taking a chance.
