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Chart of the day: Foreigners still prefer prime homes despite hefty stamp duties
Almost half of homes in prime regions were bought by non-PRs.
Foreigners continued to snap up luxury homes in Singapore in 2015, proving that demand for prime properties remained resilient despite hefty stamp duties imposed on non-Singaporean buyers.
This chart from DTZ shows that although home purchases from non-permanent residents (PRs) have declined since 2011, foreigners continued to contribute to the demand for high-end projects.
DTZ said that about 13% of 353 properties that were sold above $5.0m in 2015 were bought by Non-PRs. Additionally, about 55-60% of homes in the Central Region—which includes both the CCR and RCR—sold each year were purchased by Non-PRs.
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