Vincent Ong 6598531741

Singapore luxury apartment sales hit 11-year high, driven by Chinese demand

Sales of Singapore apartments worth at least S$10 million have hit an 11-year high, fuelled by increased demand from Chinese millionaires seeking safe-haven assets.

In the first eight months of 2019, 68 condominium units in the wealthy Asian city-state were sold for S$10 million and more, the highest tally since the corresponding period of 2008.

Expensive apartments in premium neighbourhoods are mainly bought by foreigners, because at such high prices Singaporeans have the option to buy landed property, such as bungalows and mansions.

– 20 September, 2019


Posted in Singapore Property News and tagged , , , .