How reopening borders is paving a booming Singapore property market?
We have been cooped up long enough! Our investments and business are spiraling down. The pandemic came in phases…1…2…3…. Every time chipping away a bit of the economy. The Singapore property market also suffered because of the clamp-up and border restrictions. Foreign investors could not enter the country. There were delays in construction because foreign laborers could not reach Singapore on time.
But all this is now nearly over. Singapore has always been one of the first to apprehend Covid with firm hands. And now, it predicts the endemic is near. Singapore is opening borders to 15 countries. So, it is business as usual.
Which countries are allowed to enter Singapore?
Currently, Singapore is welcoming borders to quite a few countries. While some require a quarantine period, others do not. Here’s a snapshot of all countries allowed in the country.
New Update!
Singapore tightens border measures to prevent Omicron entering the nation. The new introduced rules are applicable for the next 4 weeks. It will be reviewed or extended if necessary. VTLs for Qatar, Saudi Arabia and the United Arab Emirates have been postponed indefinitely. This is a precautionary measure to curb the risk of importing the Omicron variant to the nation.
Countries allowed to enter Singapore is as follows:
| Travel Lanes | Countries/Regions |
| Vaccinated Travel Lane (Air) For arrivals by flight only. Arrivals by Land are currently not allowed. | Fully vaccinated travelers and any accompanying unvaccinated children below 12 years old, and are departing from the following countries: Australia, Brunei Darussalam, Canada, Denmark, Germany, France, Italy, the Netherlands, the Republic of Korea, Spain, Switzerland, the United Kingdom and the United States. Finland, Indonesia, India, Malaysia and Sweden (for entry into Singapore from 29 Nov 2021) Thailand (applications open on 7 Dec 2021, for entry into Singapore from 13 Dec 2021) Cambodia, Fiji, Maldives, Sri Lanka and Turkey (applications open on 9 Dec 2021, for entry into Singapore from 15 Dec 2021) Qatar, Saudi Arabia, and the United Arab Emirates (deferred until further notice) |
| Air Travel Pass (No controlled itinerary within Singapore) | Hong Kong Macao Mainland China Taiwan |
| Reciprocal Green Lane (Controlled itinerary within Singapore, business and official travel only) | Brunei Darussalam Mainland China (Only for travellers from Chongqing, Guangdong, Jiangsu, Shanghai, Tianjin and Zhejiang) |
With more and more countries allowed to enter Singapore, the reopening is inching wider. This is allowing foreign property buyers to make their transactions with ease. This will offer increased growth in the property industry. Because more and more investors will take part in this lucrative market. But to enter Singapore, you have to know the latest eligibility criteria and documents needed to make your journey.
New measures in effect from Dec 2, Thursday, 11.59 pm with stakes in Singapore property market should know.
- Air travellers arriving on quarantine free VTL lanes have to undergo supervised, self administered antigen rapid tests. The tests will take place at Quick Test Centre on Day 3 and 7 after the arrival.
- Air travellers entertering, transiting or transferring through Singapore must test negative in their pre-departure test. This must be within 2 days before arriving in Singapore.
- Travellers from Hong Kong, Macau, China and Taiwan DO NOT NEED pre-departure tests. They only need to take a Covid-19 swab test upon arrival. This is because they are under Category I of MOH’s risk classification structure. Thus bearing the least risk of spreading Covid infections.
- All travelers including the non-VTL lanes need to take the PCR test on arrival to Singapore.
- Singapore also decided to take a one-time PCR test exercise for travellers who entered Singapore between Nov 12-27. This is subject to countries or regions which have been affected by Omicron in the 14 days prior to their arrival.
The general criteria for travellers:
- You have to be fully vaccinated with WHO Emergency Use Listing Vaccines.
- Hold a Proof of Vaccination that is acceptable.
- Meet with the Designated VTL flight requirements and travel history.
- For foreigners seeking a short term visa, you must have Covid-19 Travel Insurance. The minimum coverage for such should be at least S$30,000.
- 5. If you require a visa to enter Singapore via a short term visa, then you must seek visa accordingly.
Documents required to make your journey to Singapore:
If these criteria and eligibility confuse you, there’s a sureshot way to know if your country is allowed to enter Singapore or not. Click on the BUTTON BELOW. Scroll to the end and fill up your:
- Departure destination
- Covid-19 Status
- Passenger Type
And you will find out whether you are eligible and what you need to enter the country.
How’s the Singapore property market impacted by borders reopening?
Singapore is the first in Asia to open up borders. We are ahead of many other countries in welcoming foreign investors to enter our country.
It is creating a greater opportunity for a booming Singapore property market. Let’s find out how!
Reopening borders assures Singapore’s high vaccination efficacy rate
The Government’s decision to reopen borders assures that Singapore is at the top of its game. Covid is more of a terror because of its life-threatening symptoms. But now, the majority of Singapore’s population is fully vaccinated. We have the highest efficacy rate in the world. Not to mention the ironclad SOPs that keep us safe.
On Oct 24, 2021, Singapore reported 3,383 covid cases. The current death tally is 315. This is a very small number compared to the 4.95 million deaths worldwide since the onset of the pandemic.
Besides, in the last 28 days, 98.6% of Singapore covid cases had been asymptomatic or had mild symptoms. Only 0.9% of patients needed oxygen supplements. 0.1% were admitted to the ICU for close observation. 0.1% were critically ill and admitted to ICU. And there was only 0.2% death.
The government seems to be handling Covid well. Plus, Singapore is allowed to enter up to 3000 travelers daily through the vaccinated travel lanes. So, more and more people are regaining the confidence to go out, do business, and invest!
The year 2021 has already seen a surge in the Singapore property market. Especially the residential sector and shophouses have picked up the pace. There are a record number of luxury property sales. Commercial property transactions worth billions were conducted. Now, with foreign investors in the mix, the property sector hints at a booming growth. The last quarter is expected to boost the Singapore property market with a bang, paving the way for a kickass 2022.
Property investors are reassured by Singapore’s contingency plan
The country’s recovery plan is seeing an estimated 3 to 6 months. Within this time, you can enjoy a much more flexible environment in Singapore. Much like the western countries. Besides, Singapore has a vaccination booster program in place.
Currently, anyone above 50 years old is eligible to get a booster shot. The Government is expanding this booster program to a wider population. So, people above 30 years old can also benefit from it.
With a recovery plan and booster program in place, you are safe entering the country. It is not only looking after its citizens. But also creating a safe environment for foreign investors and businessmen. Thus, offering a secured place both for you and your investment. This certainly instills a wider consumer base for the Singapore property market.
Reopening Singapore borders predicts a higher economic growth
Previously, economists expected a 4 to 6 percent growth in GDP. But as borders are reopening, this estimate has been revised to 6.6%. The prospect of reopening more borders would drive this number even higher. And if the economy picks up, the property market is expected to make striking growth.
It is one of the few industries that has not died down even in the thick of a pandemic. But we all know that Singapore property is a magnet for foreign investors. With closed borders, many property buyers could not come to the country. This has caused a loss of business for the property sector. As borders are now finally opening up, foreigners can come to Singapore. This poses greater growth for the property market.
Why is the Singapore property market an investment magnet for smart investors?
Singapore thrives on its connectivity. With borders reopening, it is breathing life to all industries in Singapore. Hence, businesses are picking up. Investor relations and foreign investments are at greater heights. This makes Singapore’s real estate a lucrative market to invest in.
Take for instance the entry of global giants like Tiktok company, ByteDance Ltd., Or the entry of Alibaba Group Holdings Ltd. They are now one of the central attractions in Singapore. And the Alibaba office which is now situated in the oldest part of the business district needs some serious rejuvenation. These are opening doors for more real estate developments.
Besides, giant projects are in the pipeline to develop Marina Bay. Home to the iconic Marina Bay Sands Hotel, this portion of real estate also hopes to pick up. If investors can get their hands in such upcoming real estate, they can strike a gold mine.
Acting fast and acting now is the key!
But how do you know which property sector would you target, right?
Should you invest in commercial properties or residential?
Are offices still a good investment?
Which area or district is the most lucrative now?
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