Singapore is ranked 6th in the global resilient cities index

Singapore has climbed six places to become the sixth most resilient city in the world, up from 12th position in 2021.

According to the annual global index of real estate consultancy Savills, which tracks the resilience in 490 cities around the world.

New York topped the list for the second year in a row.

Tokyo, London Seoul and Los Angeles followed.

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The Resilient City Index, released on Monday (Mar. 25), measures a city’s resilience based on the ability of the city to support its residents’ well-being, and their success, against the backdrops of economic, environmental, and social changes.

According to property analysts, this is what makes these cities appealing to both investors and occupants.

Four key areas were studied: the economic strength of a city, its knowledge economy, and technology. Also examined was environmental and social governance (ESG) and real estate investments.

Savills said that the influx of people who chose to live and work there helped Singapore’s rise.

The prime residential rents increased by 42 percent between 2021-2023 as the city switched from new outflows to net inflows.

Meanwhile, real estate investment volumes remained stable. Researchers say that this is a remarkable achievement in the face of global economic slowdown and wider uncertainty. Singapore’s competitive tech industry is also a plus for its future.

Venture capital investment, for example, increased from US$8,2 billion in 2020 to US$9,4 billion in 2030, despite a global decline in volume.

Property consultants believe Singapore’s ranking is set to improve in the next decade.

The Urban Redevelopment Authority Master Plan 2025 includes urban resilience among its key themes.

Experts in the property industry say that 2024 will see more investment deals as both buyers and sellers are likely to return to the market.

Experts also expect activity across all asset classes, with Singapore’s status as a safe-haven country, its political stability and its resilient economy attracting increased investor interest.

Real estate analysts have noted that the economic fundamentals of a city are strongly correlated with its resilience. Real estate investors, on the other hand, continue to place a high priority on larger cities, especially those with a broad and deep economic base.

In the next year, these cities will likely see a change in their fortunes as funding conditions improve and investment in real estate begins to increase.

The economic growth that is based on everything else, at the expense and disregard of the environment, is being increasingly challenged.

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