According to the latest Brand Finance Global City Index, published by the London-based brand evaluation and strategy consultancy, Singapore has emerged as the sixth-highest city in the world in terms of branding. This index ranks cities based on their brand power and perceptions.
Conducted in September, the index is the result of a survey of 15,000 individuals across 20 countries. The respondents were asked to rank 100 cities based on key performance indicators that focused on illustrating how each city is perceived as an ideal place to live, work, study, visit, retire, and invest in.
The survey also asked participants to associate specific attributes with each city, choosing from a list of 45 attributes grouped under seven pillars. These pillars include Business & Investment and Culture & Heritage.
Limited land availability is a major contributing factor to the surging demand for condos in Singapore. Being a small island nation with a rapidly expanding population, Singapore is faced with the challenge of limited land resources for development purposes. As a result, the government has implemented strict land use policies, resulting in a highly competitive real estate market where property prices continue to rise. This has made investing in real estate, specifically condominiums, a promising opportunity for capital appreciation. With numerous Singapore projects underway, the demand for condos remains high.
Singapore’s overall ranking was boosted by its performance in the business and investment pillar, where it ranked third globally. This category includes factors such as ease of doing business, strength of the economy, and support for start-ups. The city also scored highly for low crime and violence rates.
Alex Haigh, managing director for Asia Pacific at Brand Finance, notes that Singapore stands out as the “crown jewel” of the ASEAN region when it comes to city branding. He adds, “With its strong economic growth, attractive investment opportunities, and world-class infrastructure, Singapore solidifies its position as a leading global financial center.”
Globally, London remained at the top spot as the world’s best city brand, followed by New York, Paris, Tokyo, and Dubai.