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SG real estate posts annual growth rate of 4.2%

It was driven by the influx of expatriates to the city-state.

Singapore’s real estate market continues to be resilient, growing at a yearly rate of 4.2% due to the arrival of expatriates, Knight Frank’s recent study showed.

Specifically, the financial and professional services sector helped in boosting the rental market more than the sales market.

This can be attributed to the implemented tax measures that now implement taxes equivalent to 60% of buying prices on foreigners.

For other APAC cities, Tokyo and Manila’s global luxury house prices eased, with a growth of 26.2% and 19.9%, respectively.

Prices in Dubai soared by 225% since reaching a 2020 low in the third quarter of 2020.
 

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