The proportion of foreign buying crept up to 21 percent in July, and August numbers are around 24 percent, Savills estimates.
Most of those are Indonesians, Malaysians and Indians – three groups that, along with the mainland Chinese, have for some time accounted for the bulk of foreign buying interest. The rest are Russians and some western Europeans.
Recent efforts by Singapore to build the city-state up as a wealth management center – rivalling global leader Switzerland by assets under management – have increased its allure to wealthy individuals. A cluster of world-class hospitals, many specialising in complicated treatments, is drawing “medical tourists” – especially from Indonesia. Full story
