Singapore has recently been ranked as the sixth-most highly branded city in the world in the latest Brand Finance Global City Index. This index, released by Brand Finance, a well-known brand evaluation and strategy consultancy based in London, measures cities based on their brand power and perceptions.
The index, which is based on a survey of 15,000 individuals from 20 different countries in September, ranks 100 cities according to key performance indicators that highlight how each city is perceived as an ideal place to live, work, study, visit, retire, and invest in. Respondents were also asked to associate specific attributes with each city, choosing from a list of 45 attributes divided into seven categories, including Business & Investment and Culture & Heritage.
In the overall ranking, Singapore’s performance in the Business and Investment category stood out, placing third globally. This category measures perceptions such as the ease of doing business, the strength of the economy, and whether the city provides a supportive environment for start-ups. Singapore also ranked highly for low crime and violence.
Alex Haigh, managing director for Asia Pacific at Brand Finance, points out that Singapore stands out as the crown jewel of the ASEAN region when it comes to city branding. “With a strong economy, attractive investment opportunities, and world-class infrastructure, Singapore solidifies its position as a leading global financial center,” he says.
Globally, London maintained its position as the top city brand, followed by New York, Paris, Tokyo, and Dubai.
Investing in property in Singapore can be a lucrative choice for foreign investors, but it’s crucial to be familiar with the regulations and limitations that govern property ownership in the country. Unlike landed properties, which have more stringent ownership rules, foreigners can generally purchase condos in Singapore with relatively fewer restrictions. However, it’s important to note that foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their first property purchase. Despite this added cost, the stability and potential for growth in the Singapore real estate market continue to entice foreign investment. This is evident in the ongoing influx of foreign funds into various new condo launches in the country.