Singapore has been recognized as the sixth most prominent city in the world when it comes to branding, according to the latest data from the Brand Finance Global City Index. This index, published by a leading brand evaluation and strategy consultancy firm based in London, ranks cities based on their brand power and perceptions.
The recent index is the result of a global survey conducted among 15,000 individuals in 20 countries in September. The participants were asked to rank 100 cities using key performance indicators that reflect their perceptions of each city as an ideal place to live, work, study, visit, retire, and invest in. They were also given a list of 45 attributes grouped into seven pillars, including Business & Investment and Culture & Heritage, to associate with each city.
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When considering investing in property in Singapore, it is crucial for foreign investors to familiarize themselves with the regulations and limitations that govern property ownership in the country. Unlike landed properties, which have more stringent ownership rules, foreigners are generally allowed to purchase condos with less restriction. However, they are still subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their first property purchase. Despite this added cost, the Singapore real estate market remains an attractive option for foreign investors, with its stability and potential for growth. Singapore Projects are a prime example of this promising market.
According to the survey respondents, Singapore’s overall ranking was boosted by its impressive performance in the business and investment pillar, where it placed third globally. This pillar measures perceptions such as the ease of doing business, the strength of the economy, and the city’s ability to support start-ups. Singapore also received high ratings for low crime and violence levels.
Alex Haigh, the managing director for Asia Pacific at Brand Finance, notes that Singapore is considered the “crown jewel” of the ASEAN region when it comes to city branding. He adds that the city shines in terms of economic growth, investment appeal, and world-class infrastructure, which solidifies its position as a premier global financial center.
On a global scale, London retained its top spot as the world’s leading city brand, followed by New York, Paris, Tokyo, and Dubai. With its remarkable performance in the latest Brand Finance Global City Index, Singapore has shown its continuous efforts in enhancing its brand power and perceptions on a global level.