Foreigners comprise 23% of month-to-date private condo buyers

Fiona Ho28 Aug 2019

With Urban Redevelopment Authority data showing that non-Singaporeans made up 23 percent of private condominiums buyers, Jefferies Singapore said Singaporean buyers accounted for 80 percent of the incremental transactions – which is on the higher side of historical trend.

“Buyers from China, Hong Kong, Taiwan and unspecified origin constitute 16 percent of the transactions which is lower than 18 percent reported earlier. Inflows may be channelled into commercial properties,” said Krishna Guha, analyst at Jefferies Singapore.

She believes that some of the inflows may be part of assets under management of family offices, reported Singapore Business Review.

“This may be deployed into commercial properties including strata office/retail properties.”

Other geographies like Australia and UK could be attracting some flows also, said Guha.

“This is primarily from children’s education perspective. Investors who are comfortable with emerging market risk-return profile are keen on properties in Thailand. Prices are range-bound, new sales volume steady.”

Prices of non-landed private rose 0.2 percent month-on-month in July on the back of new launches, while resale prices dropped 0.5 percent month-on-month during the period. Month to date, new sales stood at 435 units.

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Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email


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