Chart of the Day: Foreign property buyers on the rise despite hefty ABSD rates
They made up 5.5% of the total number of buyers in Q3 from 5.2% in Q2.
This chart from Huttons shows that the number of foreign property buyers in Singapore actually inched up from Q2 to Q3 despite the hefty Additional Buyer’s Stamp Duty (ABSD) imposed as part of the cooling measures in July.
Q3 foreign home buyers made up 5.5% of the total number of property buyers in Singapore, slightly higher from the Q2 figures (5.2%).
“This shows that Singapore properties remained a value proposition for foreigners despite the higher ABSD rates,” Huttons said.
Singaporeans made up 80.3% of the total buyers in Q3 (vs. 79% in Q2). Meanwhile, the composition of permanent resident (PR) buyers inched down from 14.6% in Q2 to just 13.6% of the total number of buyers in Q3.