We're not surprised by Singapore's current property surge… the tiny enclave recently announced its maximum corporate tax rate will be sliced to 18% in 2008, down from an already lean 20%. Only Hong Kong offers a friendlier tax code in Asia.
Like Singapore, Hong Kong's property market has soared in the past few years. These city-states are both in the top 10 of the world's freest economies. They both realize how low taxes, banking privacy, and light regulation attract the world's capitalists like bees to honey. With Asia producing 200,000 new millionaires each year, billions are flowing into their its property markets.
Let us be clear on this trend. Hong Kong and Singapore are entering the club of the world's great financial capitals. An investor is crazy to ignore them.