Chart of the Day: 80.3% residential unit buyers in Q1 2022 are locals
Less than half of transactions are priced below $1.5m.
Eight in 10 buyers of residential property in the first quarter of 2022 are Singaporeans, with permanent residents and foreigners making up 16.3% and 2.9%, respectively, according to a chart from real estate firm, Huttons Asia.
Huttons also reported that 41% of transactions in the first quarter of 2022 are valued under $1.5m, 23.3% are between $1.5m to $2m, and 35.7% above $2m.
Even as there are no new executive condominium (EC) launched in the first quarter of 2022, ECs are an alternative to private living and continue to attract buyers. Over 132 ECs were sold in the first quarter of 2022, bringing the unsold stock to 18 as of March 2022.
The United Redevelopment Authority previously bared that the private residential property index rose 0.4% in the first quarter of 2022. Huttons Asia said this is a sluggish growth due to the December 2021 cooling measures.