4 in 5 Singaporeans say they would consider investing in overseas property if they had the financial resources, according to a survey.
With the rising prices of residential properties here, four in five Singaporeans said they would consider investing in overseas real estate if they have the money and all the necessary resources, reported Singapore Business Review citing a WorldFirst survey.
This comes as overseas properties not only offer better growth and yield potential, but can also be used as retirement homes, the respondents said.
“Singaporeans are most interested in investing in a property they can rent out now and retire in (37.5 percent), followed by overseas holiday rentals and diversified property funds at 20.5 percent and 20.3 percent respectively,” said the firm.
The report noted that Singaporean respondents were in their mid 20s to early 30s, of the average income group and were unmarried. It found that males were more likely to invest in overseas properties than females.
Completed by over 400 Singaporeans, the survey looked into behaviours towards real estate investments, medical tourism, wedding planning and travel habits.
The study showed that 90 percent of the respondents found local weddings expensive, with over 50 percent believing it would be cheaper to get married overseas.
Two in five Singaporeans are also willing to go abroad for cosmetic surgeries provided they had done their research and are confident of the medical team involved.
Moreover, the majority of respondents would not cancel their travel plans even when the Singapore dollar is relatively lower compared to the currency of the country they would be visiting, with only 17 percent saying they would delay their travel.
“Few Singaporeans think about overseas exchange rates and money transfer fees when engaging in overseas real-estate investments, overseas weddings or medical tourism,” said WorldFirst.
Look out for overseas property investment opportunities.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email email@example.com