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They bought 10 more units in Q3 compared to the previous quarter. This chart from Edmund Tie & Co. reveals that mainland Chinese buyers remained the top source of foreign purchasers of residential properties in Singapore amongst declared nationalities. accounting for 18.8% of all sales of non-permanent residents (NPRs).
Amongst the top sources of foreign buyers, only the sales volume to of mainland Chinese buyers increased from 58 units in Q2 to 68 units in Q3.
“Although this was much lower than the peak of 46.6% in Q3 2018, mainland China buyers remained the top source of foreign purchasers in Singapore, which may be due to Singapore being considered as a safe investment haven and home purchases in Singapore were deemed to be a hedge against risks, particularly with the ongoing social unrest in Hong Kong,” said Leong Kin Mun, Assistant Manager (Research) at Edmund Tie & Co.
Other top sources of foreign buyers included USA (6.1%); Indonesia (4.4%) and Malaysia (1.4%).
Real estate related news stories from Singapore
- Frasers Property full-year earnings fall 25%
- SPH buys 284-bed student housing property in Germany for 15.6m euros
- Growth of grade A office rents stalls as tenants delay expansion plans
- Fragrance Q3 revenue sinks but profit soars on fair value gain
- OCBC remains optimistic on MNACT despite extensive damage to Hong Kong property
Asian property news round up
- The resilience of Hong Kong's property market
- Raffles Education names new director; shareholders approve property sale
- China's Oct property investment, sales growth at 3-month low
- New home prices in China maintain steady growth in October
- Tourism to boost hotel real estate segment in Vietnam
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