Foreign property is becoming more attractive as an investment option and for retirement as Singapore housing prices continue to rise.
The majority of Singaporeans (83.3 percent) would consider investing property abroad if they had the money, information, tools and resources to make good investment decisions, according to results of a survey commissioned by international money transfer specialist WorldFirst.
Rising local property prices (43 percent) was the most frequent reason cited for looking overseas for property investments. Properties to rent out now and retire in later were the most popular (37.5 percent), followed by overseas holiday rentals (20.5 percent) and diversified property funds (20.3 percent).
Local Weddings Too Expensive
Additionally, almost 90 percent of respondents said they thought local weddings were too expensive, and 40 percent of respondents would rather go overseas for cosmetic surgeries, with 66.8 percent citing cost as the primary reason they would do so.
The survey, which was completed by 400 Singaporeans, looked at consumer behaviour on overseas real-estate investments, overseas weddings, medical tourism and travel. Respondents were largely unmarried, in the age range of mid-20s to early 30s, and in the average income group.
