In the middle of debates regarding the condition of Singapore’s property market, a survey was conducted to shed light on why the city’s real estate industry bounced back much quicker than most analysts expected.

The said survey was accredited and commissioned by the feedback unit of the Singaporean Government, Reach. The unit polled 360 respondents comprising people who have just acquired permanent residency and citizenship in Singapore. During the course of the survey, the respondents were asked several questions regarding the city they just recently adopted as their own.

Some of the major findings are: 95 percent would recommend living in Singapore to other people; 93.3 percent feel that their overall Singaporean experience has exceeded expectations; 87.5 percent transitioned smoothly and did not encounter any problems with the political system; and 80.6 percent consider the cost of living in Singapore as manageable.

Taking the survey at its face value, the results may be seen as resounding endorsements to move to Singapore and live here. Yes, the positive findings may not be surprising at all because the sample was taken from people who attended ceremonies for the bestowal of their citizenship certificates. “They wouldn't be new citizens if they don't enjoy living in Singapore,” remarked Terence Chong, a sociologist at the Institute of Southeast Asian Studies.

However, informal conversations with permanent residents and expats also generally yield somewhat similar reactions: Singapore is a really “easy-to-live-in” city.

With the city’s status as an attractive city to live in and the government’s liberality with regard to immigration policies, it comes as no surprise that the population of residents in Singapore has been ballooning steadily in the past few years. Consequentially, the demand for homes has also been growing. To some degree, this explicates why property rental and selling prices have remained firm.

Prime Minister Lee Hsien Loong said in a statement that immigrant inflow will slow down, but the tap will not be turned off. He also reiterated that Singapore will definitely “need new immigrants for the indefinite future.” Wooing foreigners to relocate here thus remains a major policy, even though the number of immigrants to be taken in is calibrated every once in a while. The current larger population base and the continuous influx of immigrants will guarantee a minimum level of new housing demand on a yearly basis.

In the meantime, Singapore has survived the economic downturn virtually unscathed and has emerged as an oasis or haven of stability, aside from being recognised as a booming “hub city” in the fastest developing region in the world. As such, analysts forecast that the city will remain as an immigrant and financial capital magnet. In a way, owning a property here may be equated to owning a stake in a Singapore government-run firm. Very much similar to bluechip stocks, it’s not unimaginable that liveable cities and well-managed nations should also enjoy premiums.
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