Singapore, the best value city for foreign investment: research
Savills Plc, one of the world's biggest real estate services providers, said Singapore offers businesses the best property rental valued compared with the size of economy in the country. Meanwhile, Mumbai ranked last in the survey conducted by Savills. Singapore's population increased 26% from a decade in 2012.
Savills' Chart of the Day showed that Singapore's ratio of 16.1% was the lowest while India got a 74.7 score for its business capital ranked it the last on the value of money scale. The chart was computed according to the total costs to set up a business in 10 major cities. This included office and home rentals, related transaction costs divided by per-capita gross domestic product of the country or city. The result would be the indicator of business potential, said the London-based property broker.
The global headquarters of Standard Chartered Plc is located in Singapore. The company's biggest trading floor in Asia is also in Singapore. The country had also been ranked by the World Bank to be the easiest place to do business for seven consecutive years. Singapore is also the biggest oil trading market for BHP Billiton Ltd, Exxon Mobil Corp and Chevron Corp.
According to Savills director for world research Yolande Barnes, "The value of real estate is higher where more corporate revenue can be generated. It is worth paying more to accommodate an executive team in Singapore with its high GDP than in the low GDP Mumbai."
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