Photo by CHUTTERSNAP on Unsplash

Foreign purchases of private homes soar by 102.8% in Q2

Most non-local buyers were from Mainland, China.

The number of non-landed homes purchased by foreigners soared by 102.8% to 292 units in Q2, data from the URA Realis showed.

Property expert, OrangeTee, said the increasing number of purchases from non-locals is an indication that many foreigners are “still keen to park their money in Singapore despite the cooling measures.”

“Given the geopolitical and economic uncertainties in other Asian countries, Singapore has emerged as their top investment destination,” OrangeTee added.

READ MORE: Chart of the day: Unsold private residential units increases in Q2

In Q2, most of the foreigner buyers, both non-permanent residents and permanent residents, were from Mainland China (342 units ), followed by Malaysia (218 units) and India (123 units) (Chart 5).

Overall, sales volume for the quarter rose by 27.5% to 6,811 in Q2. The price index for private residential homes also rose by 3.5% during the quarter.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Manufacturing output down 6.9% in April
The biomedical manufacturing segment saw its output fall 11.1% during the period.
Starhill Global REIT obtains $50m loan facility
Under SGX's listing manual, the company could require its trustee to repay all the amount owed.