I believe it is now time to bottom fish in Singapore property developers and selected REITs on SGX. Why?
One, Singapore benefits from US supply chain reconfigurations away from China and Hong Kong’s pro-democracy political unrest. Two, Singapore is the world’s best governed, least corrupt, most technologically advanced city state that has attracted the crème de la crème of the world’s multinational corporations and knowledge worker executives. Three, Singapore is Asia’s pre-eminent offshore tech hub as attested by the local footprint of Alibaba, Tencent, Huawei, ByteDance, Samsung and Fujitsu.
Four, Singapore home prices are still undervalued at $1,500 a square foot, one-third the prices in Hong Kong. Suburban home prices in Singapore rose 3.4% in Q3 2020, clear evidence of Chinese and Indian buyers. Five, Singapore’s Anglo-Saxon legal code makes it an irresistible magnet for citizens of the developing world’s Richistans, including the wealthiest citizens of my own Land of the Pure. Though our ex-head honcho prefers to invest his billions in Mayfair. Too bad PMLN stands for the Panama Money Laundering Network.