Updated: 04/08/2014 19:39

Singapore ranks equal third in Savills' ranking of international cities



Singapore ranks equal third in Savills' ranking of international cities

Singapore has come in joint third with Paris in a global ranking of international cities, based on indicators such as economic prosperity as well as less tangible factors like connectivity, international visitors and web search data. 

London and New York were ranked equal first in the report by UK-based property consultancy Savills, which sought to identify cities with that "X factor" for real estate investors. 

Asian rivals Hong Kong, Tokyo and Shanghai came in fifth, sixth and seventh (respectively). 

Savills World Research director Yolande Barnes said in a statement that a world city is not just defined based on size or economic prosperity, but also by other less tangible factors such as fame, prominence, international reach and investability. 

Savills said it is often the cosmopolitan nature and international outlook that make cities prosperous and attractive to global investors. 

It added that by buying real estate in these cities, investors are looking to own a piece of the world rather than just of piece of a particular country.

Latest Photo Galleries on xinmsn

NEWS VIDEOS