Some of the Chinese investors are apparently buying into these luxury homes in the city state as a safety bet against the US-China trade war. Fresh interest is also being driven by instability in rival financial hub Hong Kong, the brokers say.
Private home prices rose unexpectedly to a 5-year high in the second quarter, driven by Singaporeans who make up the bulk of the market. But a detailed analysis of transaction data also shows a rise in foreign demand.
After dipping for 5 straight quarters, the number of foreigners buying apartments in the prime districts of the city-state rose in the second quarter from the previous 3 months.
– 12 Jul 2019