In roughly two months, CoreNet Global will once again hold a global summit of corporate real estate executives in Singapore. Our Asia-Pacific summits are always a fascinating window into real estate trends throughout Asia, and in Singapore we’ll get an upclose look at this small country, which is a center of commerce for the continent.
ValueWalk is just out with an update on the real estate trends in Singapore:
“In 1965, the small island nation of Singapore was in bad shape. It had few natural resources, double-digit unemployment and an uneducated population. At just 275 square miles (a third the size of Greater London and four-fifths the size of the U.S. city of San Diego), it was one of the smallest countries in the world. Aside from its location in the middle of the major sea route between India and China, Singapore didn’t have a lot going for it.”
“Fast-forward to today, and Singapore is one the most prosperous, innovative and well-developed countries in the world.”
The article says that after decades of strong growth, the trends more recently have been downward. But they are poised for a comeback.
Governmental policies that had intentionally limited expansion following the real estate bubble are being slowly pulled back. Prices may be at the end of the downswing.
Singapore is still one of the wealthiest nations, according to the article:
“GDP per capita has grown more than 10,000 percent over the past 50 years, and today stands at US$53,000 per capita. That compares to US$57,000 per capita for the U.S., and US$8,000 per capita for China. Singapore has enjoyed peace and prosperity and uniquely strong governance over the past several decades.”
It’s always an inspiring visit.
See more about the packed agenda we have planned for our summit in March, and plan to join us!