There are many reasons for this conclusion:
1. Very impressive growth rate in GDP in 2010 - 14.5% !
2. Very healthy and structurally resilient economy that can take hard knocks like the 2009 world financial crises.
3. Excellent political leadership that swept 81 out of 87 Parliamentary seats in 2011 General Elections.
4. Very competitive and hard working labour force with lots of foreign talent setting home in the country and becoming citizens.
5. Very limited land - the island cannot reclaim land from the sea anymore.
6. Only way to increase property is to demolish old buildings and build new ones with ever increasing value.
7. Wonderful, exciting city with many world class attractions like the 2 integrated resorts.
8. The City state never sleeps - lots of things to do all day and night.
9. Property value has increased by 100 % - 150 % in the last 10 years !
For those who want to take a closer look at the Singapore Property market, check this site: Singapore Property for Sale.
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