As more cities and countries get locked down to stem the spread of Covid-19, anecdotal evidence is that some wealthy individuals see Singapore as a safe haven — certainly one that is worth flying into Seletar Airport on a private jet, even if it means a 14-day self-quarantine upon arrival. Many of these HNWIs are from Indonesia, although there are others from neighbouring Asean countries such as Cambodia and Vietnam, says Bruce Lye, managing partner of SRI. “They like the way the Singapore government is handling the Covid-19 outbreak,” he adds. “They feel safer in Singapore than in their own country.” If anything, the Covid-19 pandemic has amplified interest in real estate, adds Ismail Gafoor, CEO of PropNex. “When this health crisis clears, people from China and elsewhere in Asia will come in with a vengeance.” Despite the travel restrictions that came into effect from Feb 1, the number and proportion of non-landed property purchases in the CCR by foreign buyers for the months of Jan and Feb 2020 has actually increased from the same period a year ago, says Gafoor.... Continue Reading