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Braving curbs, Chinese buyers lead foreign revival in Singapore’s luxury homes

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

Read Full Article at https://www.channelnewsasia.com/news/business/property-market-singapore-foreign-buyer-dyson-11715158

Posted in Singapore Property News and tagged , .