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SINGAPORE (EDGEPROP) - Even though border restrictions have been in place since April last year — save for green lane arrangements for business travel — foreigners are still buying homes in Singapore. Recent data suggests that there could be an increase in the number of foreigners who reside long term in Singapore and see value in transferring the rental they pay towards ownership, says Lee Sze Teck, director of research at Huttons Asia.
This is evident from data from January 2020 to February 2021. District 5 (Buona Vista, West Coast and Clementi New Town) was the most popular among foreigners, which is home to 475 out of 4,208 homes (11.3%) bought by foreigners. This is followed by District 19 (Serangoon, Hougang, Sengkang and Punggol), where 403 homes (9.6%) were sold to foreigners.
This trend is led by the Chinese, which is the largest group of foreign buyers in Singapore, accounting for almost 30% of property transactions by foreigners in the past 15 months. They bought 131 homes in District 5 and 116 homes in District 19. Comparatively, in Districts 9 and 10, the Chinese bought 79 units and 90 units respectively.
Malaysian buyers, the second largest group of foreign buyers, show a preference for Districts 19, 14 (Eunos, Geylang, Paya Lebar) and 5 (Buona Vista, West Coast, Clementi New Town); while the Indians, the third largest group, prefer District 18 (Tampines and Pasir Ris). Meanwhile, buyers from Indonesia, the US and the UK still show a preference for prime Districts 9 and 10.
This is evident from data from January 2020 to February 2021. District 5 (Buona Vista, West Coast and Clementi New Town) was the most popular among foreigners, which is home to 475 out of 4,208 homes (11.3%) bought by foreigners. This is followed by District 19 (Serangoon, Hougang, Sengkang and Punggol), where 403 homes (9.6%) were sold to foreigners.
This trend is led by the Chinese, which is the largest group of foreign buyers in Singapore, accounting for almost 30% of property transactions by foreigners in the past 15 months. They bought 131 homes in District 5 and 116 homes in District 19. Comparatively, in Districts 9 and 10, the Chinese bought 79 units and 90 units respectively.
Malaysian buyers, the second largest group of foreign buyers, show a preference for Districts 19, 14 (Eunos, Geylang, Paya Lebar) and 5 (Buona Vista, West Coast, Clementi New Town); while the Indians, the third largest group, prefer District 18 (Tampines and Pasir Ris). Meanwhile, buyers from Indonesia, the US and the UK still show a preference for prime Districts 9 and 10.
