Singapore private homes with above $5 million cost accounted for 19% of private residential properties acquired in April by foreigners, a six percent up from first quarter of 2015, according to DTZ’s analysis and reported in the media.
High-end homes in Singapore look more attractive in foreign buyers, compared with suburbs properties, a much bigger price drop have posted. Compared to Hong Kong, prices of private residential property on the island are more attractive, this reasons has start a revival in buying Singapore property from mainland China buyers.
Last April, a total 36 caveats were lodged by foreign private homes buyers, seven of the 36 caveats were cost over $5 million. Compare to first quarter this year, about 6% or 9 of the 145 caveats were lodged by foreign home buyers with cost above S$5 million. From 3% low in Q2 last year, share has increased constantly.
DTZ’s analysis referring to URA Realis caveats data shows that most China home buyers are flocking and intend to purchase in District 10. Last month, 17% of the 48 private homes located in District 10 were purchased by China buyers.