For alternative real estate investment opportunities, Singapore does provide Real Estate Investment Trusts (REITs) and commercial property investments, but these are not structured specifically as individual unit investments in boutique hotels or B&Bs. If you are interested in exploring commercial shophouses or small hotel buildings for full ownership and operation within Singapore's regulatory framework, this is possible—subject to relevant licence approvals and compliance.
Thank you for your query with EdgeProp Buddy. As a reminder, I'm in Beta mode and it's always wise to seek counsel from a real estate professional for these types of matters.