Going Global: Singapore Through the Eyes of a Traveler & Real Estate Professional

Traveling for leisure, educational experiences, and work is something that has always been dear to me. In fact, I had my first passport at just three months old, and my first flight was to Trinidad and Tobago which I spent a number of my childhood summers and holidays.

As an adolescent, much of my travel experience centered around the Caribbean and destinations throughout the United States. At 16, I traveled to Europe to compete in track and field, giving me an early introduction to the idea that the world was much larger than the places I knew as home.

Despite the demands of a career in real estate and education, I have remained committed to not forgoing the travel experiences that have shaped me. I intentionally set aside both time and a budget to continue exploring.

Over the past five years in particular, my curiosity has expanded beyond simply visiting destinations. I have become increasingly interested in studying global real estate markets and, perhaps even more importantly, understanding why people are moving to the places they choose to call home.

Sometimes, those destinations are places that many of us may never have considered.

From Foreign Buyers in America to Americans Going Global

For decades, foreign buyers have purchased investment properties, vacation homes, and business properties throughout the United States. Many have traditionally gravitated toward major metropolitan markets such as New York, Miami, Los Angeles, and other globally recognized cities.

But the conversation is changing.

Since the COVID-19 pandemic, we have seen greater interest among American-born citizens in living and working abroad. People are relocating for business opportunities, education, relationships, family, lifestyle changes, and retirement.

As a real estate professional, I find this shift particularly fascinating.

Real estate is not simply about buying and selling property. It is also about understanding where people want to live, why they want to live there, what they can afford, and what opportunities exist within that market.

That perspective has encouraged me to look beyond the traditional U.S. real estate landscape.

My First Introduction to Singapore

Recently, I had the opportunity to travel to Asia for the first time, with Singapore as my first destination.

Honestly, I did not know exactly what to expect.

Singapore was initially a three-day stop on my way to Bali. What I discovered during those three days was a destination that left a much stronger impression on me than I anticipated.

As someone accustomed to the New York City metropolitan region and the lifestyle of a city/suburban dweller, Singapore immediately felt familiar in some ways while being completely different in others.

I was in awe of its city appeal, but what really stood out to me was the combination of urban development and greenery.

Singapore is remarkably clean. The city has an impressive collection of modern skyscrapers, extensive shopping malls featuring brands familiar to Western consumers, growing nightlife, efficient transportation, and visible signs of business activity and economic development.

Yet despite its highly developed urban environment, greenery is everywhere.

That balance between a sophisticated global city and an environment filled with plants, trees, and landscaped spaces was one of the things I appreciated most.

A Truly Global Population

During my stay, I did not personally encounter any Americans.

What I did notice was the incredible diversity of people moving throughout the country.

I encountered and observed people from Southeast and other parts of Asia, the Middle East, Europe, Africa, and other parts of the world. Some appeared to be visiting friends and relatives who had made Singapore their home. Others were traveling with their families, shopping, vacationing, or conducting business.

Singapore felt bustling and busy, but it did not feel chaotic.

There was a noticeable presence of economic activity and wealth—not simply among residents, but also among the international travelers passing through.

That made me think about Singapore beyond tourism.

Could this be a destination where more Americans eventually consider living, working, investing, or building businesses?

How Many Americans Live in Singapore?

Although Americans do not represent a large percentage of Singapore's population, there is an established American community in the country.

Estimates place the number of U.S. citizens living in Singapore at roughly 30,000, compared with Singapore's overall population of more than 6 million.

That is not a massive number.

But numbers alone do not necessarily tell the entire story.

Singapore is one of the world's major business and financial centers. Its strategic location in Asia, strong infrastructure, international business environment, education system, transportation network, and high standard of living can make it attractive to professionals and businesses with global ambitions.

For Americans whose careers can operate internationally, Singapore may become an increasingly interesting option.

Singapore Real Estate: Where Things Get Interesting

From a real estate perspective, however, Singapore is a very different market from the United States.

One of the first things that stood out to me is that purchasing residential real estate in Singapore is not as straightforward as purchasing a home in many parts of America, however American purchasing do get preferential treatment under the counties Free-Trade Agreement, this means American citizens can generally avoid the 60% foreign-buyer ASBD "tax" that applies to other foreign buyers. This can be promising for future American buyers interested in Singapore.

Singapore has limited land relative to its population, and the government plays a significant role in housing development and urban planning.

Public housing—primarily Housing & Development Board (HDB) flats—makes up a substantial portion of the country's housing landscape.

However, it is important for Americans to understand that Singapore's public housing system is very different from the image many Americans associate with the term "public housing."

Many HDB communities are modern, well-maintained developments integrated with schools, transportation, shopping, parks, community facilities, and other amenities.

Then there is the private residential market.

Private condominiums are an important housing option, particularly for higher-income residents and expatriates. Many developments offer amenities such as swimming pools, fitness centers, security, landscaped grounds, and other shared facilities.

Detached and semi-detached homes are also available, particularly in suburban areas outside the central city districts.

But because land is limited, these properties can command significant prices.

And that scarcity is an important part of understanding Singapore's real estate market.

How Expensive Is Singapore Real Estate?

Housing costs in Singapore can be significant, particularly when compared with many areas of the United States.

For perspective, some resale HDB flats can sell in the hundreds of thousands of U.S. dollars, while private condominiums can reach well into the seven-figure range. Landed properties, including larger single-family homes and townhomes, can command several million U.S. dollars and substantially more depending on location, size, and property characteristics.

This is where comparing Singapore to the United States becomes complicated.

A $500,000 home in one American market can represent a completely different housing product than a similarly priced property in Singapore.

The land constraints, density, location, transportation access, property type, and government regulations all play a role in determining value.

Singapore also has relatively strong household incomes compared with many countries, which helps explain how its residents support a high-cost housing environment.

For an American considering relocation, however, the question should not simply be:

"Can I afford a home in Singapore?"

The better question is:

"Does my income, career, lifestyle, and long-term financial strategy make Singapore affordable for me?"

The Cost of Living: What Surprised Me

One of the most pleasant surprises for me was food.

Local food and dining options can be very affordable, particularly when eating at hawker centers and other local establishments.

Public transportation was another area where I found Singapore particularly impressive and cost-effective.

The transportation system makes it possible to navigate the city efficiently without relying heavily on a personal vehicle.

Outside of those areas, however, I found many expenses to be comparable to—or even higher than—what we experience in certain U.S. cities.

For someone coming from New York City or another high-cost American metropolitan area, some aspects of Singapore may feel surprisingly familiar from a cost perspective.

For someone coming from a lower-cost U.S. market, the financial adjustment could be much more significant.

Why Singapore Could Appeal to Americans

So, why would an American consider Singapore?

There isn't one answer.

For some, it could be career advancement.

For others, it could be entrepreneurship or expanding a business into Asia.

For students and academics, Singapore's educational institutions and international environment may be attractive.

For families, infrastructure, transportation, education, and safety can be important considerations.

For retirees or lifestyle-driven movers, the equation may look completely different.

And for real estate professionals and investors, Singapore provides something particularly valuable:

A chance to understand how a highly developed international city approaches land, housing, density, infrastructure, and urban growth.

That alone makes it worth studying.

Singapore Changed the Way I Think About Global Real Estate

My three days in Singapore were not long enough to understand the country completely—and I certainly would not pretend that a short visit makes me an expert on the Singaporean real estate market.

But travel is not always about becoming an expert.

Sometimes it is about becoming curious.

Singapore made me curious.

Most importantly, it reinforced something I have increasingly recognized throughout my real estate career:

Real estate is global.

People move.

Businesses move.

Capital moves.

Families move.

And increasingly, professionals are willing to look beyond the borders of their home country when deciding where they want to build their future.

Going Global

As I continue exploring the world, I want to understand how people live, work, invest, and build their futures—and how real estate connects it all.

Singapore was my first introduction to Asia, but it certainly will not be my last. I look forward to exploring more global markets and sharing what I learn along the way.

Real estate is global. And perhaps the next question isn't simply, “Where should I travel?” but “Where in the world could I build my next chapter?”

— Felicia Smith

Marina Bay Section

View from the Boss Hotel, Lavendar District Singapore