Robb Report’s Post

For the wealthy as well as everyone else, the cost of living has climbed over the past year as prices rose. Some cities were hit harder than others. The Julius Baer Lifestyle Index, which ranks the world’s most expensive cities annually, finds that Asia is the costliest region for luxury living, with #Singapore ranking as the world’s most expensive city. This year, it surpassed #Shanghai, the No. 1 city in 2022.

As someone deeply invested in the luxury real estate market, I’ve always believed in the unparalleled benefits of living in Singapore. Recently, Singapore retained its title as the most expensive city in the world, according to Swiss Bank, Julius Baer. While this might raise eyebrows, it actually highlights the exceptional value that Singapore offers to its residents. For the super wealthy, Singapore is about the lifestyle. The city-state offers world-class amenities, the best security, and a vibrant cultural scene. The strategic location, coupled with a stable political environment and a healthy economy, makes it an ideal hub for both business and leisure. Singapore’s commitment to excellence in infrastructure and public services ensures that residents enjoy the highest quality of life. The city’s safety, cleanliness, and efficient transport systems are unparalleled. Singapore’s education and healthcare systems are among the best in the world, providing peace of mind for families. Despite its high cost, the benefits of living in Singapore far outweigh the expenses. For those considering a move, now is the perfect time to take advantage of what this incredible city has to offer. Explore the exclusive properties and opportunities available in Singapore and discover why it remains a top choice for the world’s elite. Visit our website to learn more about luxury living in Singapore and how we can help you find your perfect home: https://lnkd.in/gnxen48R

Singapore allegedly tops this list but I don't think it's accurate and this is why: "These are the world's most expensive cities in 2023". "For the wealthy as well as everyone else, the cost of living has climbed over the past year as prices rose. Some cities were hit harder than others. The Julius Baer Lifestyle Index, which ranks the world’s most expensive cities annually, finds that Asia is the costliest region for luxury living, with Singapore ranking as the world’s most expensive city. This year, it surpassed Shanghai, the No. 1 city in 2022. " How is this measured? "The index from Julius Baer, a Swiss money manager, evaluates the cost of 20 items associated with a high-end, cosmopolitan lifestyle, such as premium residential property, luxury cars, business-class flights, and extravagant dinners. " (See the PDF in the article for the detailed breakdown). In the foreword Christian Gattiker-Ericsson, CFA, CAIA, Head of Research even admits that aspects like car prices, business class travel, wine, whiskey and degustation dinners are more expensive in Singapore BUT that less people are actually buying them so they skew the index. For example only 11% of Singaporeans have a car compared to 90% in the US But cars here are 10x more expensive which skews the report and doesn't take into account our excellent and low cost public transport, which they admit. 90% of the index is not bought in quantity by most people who live here, only the wealthy which JB are clearly aimed at for their wealth management services. The BIG elephant in the room which 1) they don't consider and 2) I can't even find a mention of, is tax. Singapore has some of the world's lowest company and personal taxes and we have zero capital gains tax. So even if we are expensive and I am not saying that we're not for the items mentioned, it doesn't take into account the fact that we have more disposable income to spend on them because our taxes are so low. It also doesn't take into account cultural areas such as our subsidised housing that 80% of Singaporeans live in and our hawker centres which are cheapest and most wholesome food possible especially compared to similar food centres/FNB in the other cities listed. So it's all about how you spend your money and what you spend it on and how you save. It's not as clear cut as this survey would have you believe. What do you think? #Singapore https://buff.ly/3PmMcOX

What comes to mind when you think of #Singapore? For most, it's the iconic Marina Bay Sands towers, luxury cars, and the 'Crazy Rich Asians' who inhabit the ultramodern metropolis. It comes as no surprise that Singapore was declared the world's most expensive city in the Cost of Living survey by the Economist Intelligence Unit (EIU). But how do costs break down for an average resident of the city-state? Taking a look at costs of rent, taxes, transport and food, among others, reveals some surprising facts. While a luxurious lifestyle here is comparable to that in other global cities like #London and #NewYork, there are also options that won't break the bank. Article by Singapore Global Network - read at the link below! Follow Straits Advisory today for more curated insights. https://lnkd.in/gn-VHB63

Singapore Business Review: A Savills report revealed that Orchard Road is ranked 8th amongst global luxury locations with rising prime rents. Rents in the area saw a 4.1% increase. Although prime rents in Singapore had grown, they were still below pre-pandemic levels (Q4 2023 vs Q4 2019), experiencing a decrease of 23%.   Read more here: http://sav.li/a71   #orchardroad #primerents #savillssg #luxuryreport #luxuryretail Sulian Tan-Wijaya Jolene Teo

The luxury property market in Singapore is displaying promising indications of bouncing back after the challenging period induced by the pandemic. In 2022, Singapore stood out as one of the leading markets for ultra-prime residential property transactions, standing tall among renowned global cities such as London and New York. More insights here: https://okt.to/DXPCbz Nicholas Keong Yahoo Finance PropertyGuru Group

In a ranking of more than 400 global cities by Resonance, #Singapore clinched fifth position, thanks to our thriving economy and superior quality of life. Resonance analyses 24 metrics relating to a city’s Livability, Lovability, and Prosperity, and here’s what they had to say about the Lion City: 1. Emerging from its origins as a free-spirited trading port, Singapore has undergone a remarkable transformation to emerge as “one of Asia’s most modern, well-organised and captivating urban centers”. 2. Visitors to Singapore can immerse themselves in two favoured local pastimes: shopping, which ranks eleventh globally, and, of course, eating. The retail choices are staggering, from haute couture to electronics, from the countless shops adorning Orchard Road to the 24-hour, six-story Mustafa Centre. Our culinary landscape lives up to its fourteenth Restaurants ranking, “buoyed by the popularity of the beloved spicy white pepper crab and the sweet, refreshing Singapore Sling”. 3. Capturing a photograph from the colossal rooftop infinity pool of Marina Bay Sands (poised to expand further with an additional 1,000-room hotel tower and a live entertainment arena) has become a symbolic ritual. On the opposite shoreline, Merlion Park, with its metallic, surfboard-like head, offers an even more iconic perspective. 4. In the coming years, Singapore will focus on boosting prosperity (currently sitting pretty at number two), “creating more green areas and building vibrant developments for work, education and play”. 5. The existing Changi Aviation Park will be expanded with the development of Changi East Industrial Zone, and a mega port in Tuas is set to be the world’s largest fully automated terminal when completed. 6. Closer to the city, a new waterfront district is being explored just south of the port, called the Great Southern Waterfront, which is slated to build 9,000 housing units along Singapore’s southern coast. 7. “Locals are also buzzing about the forthcoming NS Square”, a future outdoor multipurpose venue in the Downtown Core area of Marina Bay that will replace the popular Marina Bay floating platform. This is the latest in the list of accolades for tiny Singapore. We are the "best place in the world to do business", the "smartest city in Asia", the second most innovative country in the world, the “world’s safest country”, and "most liveable location in the world". Our national carrier, Singapore Airlines, is the best airline in the world and our airport the best airport in the world. Our excellence is not serendipitous. It is a carefully designed and tested ideology. Because if we are not the best, why should we be anything at all?   Has this relentless pursuit of excellence made Singapore a better, happier place? Perhaps a topic for another post. In the meantime, I will happily accept that we are the fifth most Livable, Lovable, and Prosperous city in the world.   Photo of conserved houses in the historic Joo Chiat neighbourhood, by me

The coverage in "Singapore's Sky-High Rents Show First Signs of Cooling" provides brilliant insight into the ever-evolving narrative of Singapore's real estate landscape. Property agents have been feeling the pinch. Sunita Gill, co-founder of real estate consultancy Singapore Luxury Homes, has seen some of her expat clients relocate to Dubai. The government’s latest cooling measures — doubling stamp duties for foreigners to 60% — has also deterred potential investors, leading to lower demand for luxury rentals, she said. “We’re personally witnessing a 10-15% reduction for properties listed for more than two months,” said Gill. “The luxury real estate market in Singapore may have become saturated recently with an abundance of high-end properties available for rent.” Our team at GEE Global is excited to see our client, Singapore Luxury Homes, quoted in Bloomberg's coverage of the current luxury real estate market. Read Selina Xu's (thank you!) piece on Bloomberg News at https://lnkd.in/dcfYYVip. ---------------- #singaporeluxuryhomes #sgluxuryhomes #sgrealestate #sgrental #sgproperties #sgpropertyagent #luxuryrealestate

Singapore's property market witnessed a contrasting trend in the first quarter of 2024. While overall rental prices dipped by 1.9%, luxury homes rental volume for luxury homes increased by 3.6% as compared to the previous quarter. Particularly, rental demand for private, non-landed four-bedroom units jumped by a staggering 35.6% compared to the previous quarter, and 19.3% year-over-year. “The stronger demand for four-bedroom units may be due to more high-net-worth foreigners relocating to Singapore because of geopolitical tensions,” said Huttons CEO, Mark Yip. Furthermore, it could potentially be due to limited supply of such larger units. Read more - https://lnkd.in/dgh7FTr8 #HuttonsGroup #FastestGrowingAgency #SingaporeLargestPrivateRealEstateAgency #HuttonsDataAnalytics #Rental

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