Chart of the Day: Singaporeans take up four-fifths of home sales in 11M 2019

About 6% of 18,400 units were bought by foreigners.

This chart by DBS Bank shows that Singapore buyers remained the key buyers of new homes, taking up nearly four-fifths or 79% of the 18,400 units transacted in the first 11 months of 2019, based on data from the Urban Redevelopment Authority (URA).

At the same time, Singapore permanent residents (PRs) accounted for another 14%, whilst the remaining 6% came from foreigners.

Sales in 11M 2019 rose 5% YoY to nearly 9,500 units, and is expected to reach 10,000 by the year-end. However, secondary market transactions slipped 20% YoY to about .8,900 units in 11M19 as buyers appeared to focus on new homes where overall investment quantum is smaller.