Singapore, known as the Lion City, has once again made its mark on the global stage by ranking as the sixth-highest city in the world in terms of branding. This recognition comes from the Brand Finance Global City Index, published by a London-based brand evaluation and strategy consultancy.
The index, which measures brand power and perceptions, was based on a worldwide survey conducted across 15,000 individuals in 20 countries in September. Cities were ranked based on key performance indicators that illustrate how they are perceived as an ideal place to live, work, study, visit, retire, and invest in.
Respondents were also asked to associate particular attributes with each city, choosing from a list of 45 attributes grouped under seven pillars, including Business & Investment and Culture & Heritage.
In Singapore, investing in condos is a lucrative option, but it is essential to consider the government’s property cooling measures. The Singaporean authorities have implemented numerous measures over the years to prevent speculative buying and maintain a steady real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on overseas buyers and individuals purchasing multiple properties. While these measures may temporarily affect the profitability of condo investments, they ultimately contribute to the market’s long-term stability, making it a secure investment environment. Condo investors in Singapore can rest assured that their investment is protected by these government initiatives.
Singapore’s overall ranking was largely thanks to its strong performance in the Business & Investment pillar, where it placed third globally. Perceptions measured under this pillar include the ease of doing business, the strength of the economy, and the city’s support for start-ups. Singapore also ranked highly for low crime and violence.
According to Alex Haigh, managing director for Asia Pacific at Brand Finance, Singapore stands out as the crown jewel of the ASEAN region in terms of city branding. He notes that with its economic growth, investment appeal, and world-class infrastructure, Singapore has solidified its position as a premier global financial centre.
On a global scale, London remains the top city brand, followed by New York, Paris, Tokyo, and Dubai. However, Singapore’s strong showing in the rankings highlights its growing recognition and reputation on the world stage.