The ultra-luxury property of Singapore market proved attractive to foreign buyers, despite the government introducing cooling measures and a slow first quarter.
Home in Singapore costing above SGD5 million or USD3.7 million were back and attract more foreign buyers, according to the latest market analysis by DTZ last April 2015, about 19% of private homes were bought by foreign investors.
Singapore property is much more appealing to foreign buyers compared to Hong Kong, where property prices are still higher despite cooling measures. Singapore offers more reasonable property prices and a lower rate of additional buyer’s stamp duty on foreigners with permanent resident status.
Hong Kong and Singapore presented very much alike sort of cooling measures. However, Hong Kong property market with home prices rebound over the last one and a half years is now apparently toppish, compared to following price declines of Singapore property that offers better value.
High-end Singapore property that attract foreign buyers include Leedon Residence and Lakeville @ Lakeside.
