Foreigners are acquiring posh apartments in Singapore and contributing to the health of the luxury market, which had been weak since early 2007, according to an article in The Straits Times.
Foreigners, including permanent residents (PRs), acquired 162 non-landed units with an average price of over S$5 million in the first half of 2011.
According to a Cushman and Wakefield analysis of URA caveats lodged, the new figure is approximately 60 percent of the total transactions seen in the top-end market, including both primary and secondary sales. Full story
Related:
Asian buyers target Singapore’s property market - Asia Property Report
