Singapore Rises to Sixth in Global Resilient Cities Index

Singapore has climbed six spots to become the world’s sixth most resilient city, up from 12th place in 2021, according to real estate consultancy Savills’ annual global index tracking the resilience of 490 cities worldwide.

New York retained the top spot for the second consecutive year, followed by Tokyo, London, Seoul, and Los Angeles.

The Resilient Cities Index, published on Monday (Mar 25), evaluates a city's resilience based on its ability to support the well-being and success of its residents and workers amidst economic, social, environmental, and technological changes.

Alan Cheong, Savills Singapore’s executive director of research and consultancy, anticipates further improvement in Singapore’s ranking in the next decade, citing the Urban Redevelopment Authority’s Master Plan 2025, which prioritizes urban resilience.

Jeremy Lake, Savills Singapore’s managing director of investment sales and capital markets, predicts increased investment activity in 2024, driven by Singapore's safe-haven status, political stability, and resilient economy.

Savills highlights a strong correlation between economic fundamentals and a city's resilience, noting that real estate investors favor cities with robust economic foundations.

As funding environments improve and real estate investment volumes rebound, larger cities are expected to experience growth, although concerns about climate change and environmental, social, and governance (ESG) factors are becoming increasingly important.