Going Global: Singapore Through the Eyes of a Traveler & Real Estate Professional
Updated: Oct 2
Traveling for leisure, education, and work has always been important to me. I received my first passport at just three months old. My first flight was to Trinidad and Tobago, where I spent many childhood summers and holidays.
As a teenager, I traveled extensively throughout the Caribbean and the United States. At 16, I went to Europe to compete in track and field. This experience opened my eyes to the vastness of the world beyond my hometown.
Despite the demands of my career in real estate and education, I prioritize travel. I set aside time and a budget to explore new places.
Over the past five years, my curiosity has grown. I am not just visiting destinations; I am studying global real estate markets. I want to understand why people choose to move to the places they call home.
Sometimes, these places are ones we might not have considered.
From Foreign Buyers in America to Americans Going Global
For decades, foreign buyers have purchased properties in the United States. They often gravitate toward major cities like New York, Miami, and Los Angeles.
However, the conversation is changing.
Since the COVID-19 pandemic, more Americans are considering living and working abroad. They relocate for various reasons: business opportunities, education, relationships, and lifestyle changes. As a real estate professional, I find this shift fascinating.
Real estate is not just about buying and selling properties. It involves understanding where people want to live, why they want to live there, what they can afford, and what opportunities exist in that market.
This perspective has encouraged me to look beyond the traditional U.S. real estate landscape.
My First Introduction to Singapore
Recently, I traveled to Asia for the first time, with Singapore as my first stop.
Honestly, I did not know what to expect.
Singapore was initially a three-day stop on my way to Bali. What I discovered during those three days left a stronger impression on me than I anticipated.
As someone from the New York City area, Singapore felt familiar yet completely different.
I was impressed by its urban appeal, but what stood out was the combination of urban development and greenery.
Singapore is remarkably clean. The city features modern skyscrapers, extensive shopping malls, and a vibrant nightlife. The efficient transportation system and visible economic activity impressed me.
Yet, amidst this urban environment, greenery is everywhere. The balance between a sophisticated city and lush landscapes was something I appreciated.
A Truly Global Population
During my stay, I did not meet any Americans. However, I noticed the incredible diversity of people in the country.
I encountered individuals from Southeast Asia, the Middle East, Europe, and Africa. Some were visiting friends and relatives who had made Singapore their home. Others were shopping, vacationing, or conducting business.
Singapore felt bustling but not chaotic.
There was a noticeable presence of economic activity and wealth—not just among residents, but also among international travelers. This made me think about Singapore beyond tourism.
Could this be a destination where more Americans consider living, working, investing, or building businesses?
How Many Americans Live in Singapore?
Although Americans do not make up a large percentage of Singapore's population, there is an established American community. Estimates suggest around 30,000 U.S. citizens live in Singapore, compared to the country's overall population of over 6 million.
That number may not seem large.
However, numbers alone do not tell the whole story.
Singapore is a major business and financial center. Its strategic location, strong infrastructure, and high standard of living make it attractive to professionals and businesses with global ambitions.
For Americans whose careers can operate internationally, Singapore may become an increasingly appealing option.
Singapore Real Estate: Where Things Get Interesting
From a real estate perspective, Singapore is very different 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 buying a home in many parts of America. However, American buyers receive preferential treatment under the Free Trade Agreement. This means American citizens can generally avoid the 60% foreign-buyer Additional Buyer's Stamp Duty (ABSD) 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. 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 housing landscape.
It is important for Americans to understand that Singapore's public housing system differs from what many Americans associate with "public housing."
Many HDB communities are modern, well-maintained developments integrated with schools, transportation, shopping, parks, and community facilities.
Then there is the private residential market. Private condominiums are vital, particularly for higher-income residents and expatriates. Many developments offer amenities like swimming pools, fitness centers, and landscaped grounds.
Detached and semi-detached homes are also available, especially in suburban areas outside the central districts.
However, due to limited land, these properties can command significant prices. Understanding this scarcity is crucial for grasping Singapore's real estate market.
How Expensive Is Singapore Real Estate?
Housing costs in Singapore can be significant, especially compared to many areas in the United States.
For perspective, some resale HDB flats can sell for hundreds of thousands of U.S. dollars. Private condominiums can reach well into the seven-figure range. Landed properties, like larger single-family homes and townhomes, can command several million U.S. dollars, depending on location and size.
Comparing Singapore to the United States can be complicated. A $500,000 home in one American market may represent a different housing product than a similarly priced property in Singapore.
Land constraints, density, location, transportation access, property type, and government regulations all influence value.
Singapore also has relatively strong household incomes, which helps explain how residents support a high-cost housing environment.
For an American considering relocation, 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 the food. Local dining options can be very affordable, especially at hawker centers.
Public transportation impressed me as well. The system allows efficient navigation without relying heavily on personal vehicles.
However, outside of these areas, I found many expenses 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 area, some aspects of Singapore may feel familiar. For someone from a lower-cost U.S. market, the financial adjustment could be 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 might be entrepreneurship or expanding a business into Asia. For students and academics, Singapore's educational institutions may be attractive. For families, infrastructure, education, and safety can be important factors. For retirees or lifestyle-driven movers, the reasons may differ.
For real estate professionals and investors, Singapore offers 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 enough to fully understand the country. I would not pretend that a short visit makes me an expert on the Singaporean real estate market. However, travel is not always about expertise. Sometimes it is about curiosity. 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. Professionals are increasingly willing to look beyond their home country's borders when deciding where 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
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