{"id":109010,"date":"2019-07-15T12:14:31","date_gmt":"2019-07-15T05:14:31","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-buyers-lead-return-of-foreigners-in-singapores-luxury-homes\/"},"modified":"2019-07-15T13:08:41","modified_gmt":"2019-07-15T06:08:41","slug":"chinese-buyers-lead-return-of-foreigners-in-singapores-luxury-homes","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-buyers-lead-return-of-foreigners-in-singapores-luxury-homes\/","title":{"rendered":"Chinese buyers lead return of foreigners in Singapore\u2019s luxury homes"},"content":{"rendered":"


\nDespite the cooling measures and hefty levies last year, data showed an unexpected rebound in the market as foreigners, especially Chinese buyers, are once again flocking into Singapore\u2019s luxury property market. Chinese buyers have recently dominated the prime residential markets, taking over from affluent tycoons from Indonesia and Malaysia.
\nWhile the cooling measures introduced last year dampened demand, recent data show an unexpected rebound in the market.
\nDespite the introduction of hefty levies last year, foreigners are once again flocking into Singapore\u2019s luxury property market, with Chinese buyers leading the pack, reported Reuters.
\n\u201cThe Chinese are coming,\u201d said Cosmopolitan Real Estate managing director Chandran V.R. \u201cThe factors are the issue in Hong Kong and also the trade war\u2026They are looking at the stability of our currency.\u201d
\nChandran noted a rush of potential Chinese buyers for the $12.8 million penthouse that he is marketing in recent weeks.
\nOther brokers shared that they were aware of Chinese buyers who entered into four deals to acquire apartments in Singapore worth $20 to $30 million in the last three months.
\nList Sotheby\u2019s International Realty revealed that Singapore\u2019s luxury apartment market registered 169 deals worth $1.4 billion in the first half of 2019, with permanent residents and foreigners accounting for 70 percent of buyers.
\nChinese buyers have recently dominated the city-state\u2019s prime residential markets, taking over from affluent tycoons from Indonesia and Malaysia.
\nWhile the cooling measures introduced last year dampened demand, recent data show an unexpected rebound in the market.
\nOrangeTee & Tie\u2019s analysis of transaction data as of 10 July show that transaction volumes within the core central region \u2013 popular among rich foreigners \u2013 rose the highest in a year in Q2.
\nAfter consistently dropping for five straight quarters, the number of foreigners purchasing apartments in the country\u2019s prime districts rose in the second quarter from the previous quarter.
\n\u201cThe current social and political uncertainties around the world, including the trade war and Hong Kong social unrest, magnify Singapore\u2019s strong positioning as a safe haven for property investment,\u201d said Christine Sun, OrangeTee & Tie\u2019s head of research & consultancy.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Chinese buyers lead return of foreigners in Singapore\u2019s luxury homes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the cooling measures and hefty levies last year, data showed an unexpected rebound in...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-109010","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-sme","jetpack-related-posts":[{"id":111504,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-drives-sales-of-singapores-luxury-apartment-market\/","url_meta":{"origin":109010,"position":0},"title":"China drives sales of Singapore\u2019s luxury apartment market","date":"October 11, 2019","format":false,"excerpt":"\r Mainland Chinese nationals, considered as Singapore\u2019s largest foreigner buyer group, bought 97 of these units. Sales for the luxury segment of Singapore\u2019s residential market is on a high, due to increased interest from mainland Chinese, reported Bloomberg citing Colliers International Group. In the first nine months of 2019, foreigners\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118595,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-property-market-gets-a-lift-amid-recession-with-tonic-from-mainland-chinese-buyers-unspecified-foreigners\/","url_meta":{"origin":109010,"position":1},"title":"Singapore\u2019s property market gets a lift amid recession with tonic from mainland Chinese buyers, \u2018unspecified foreigners\u2019","date":"September 11, 2020","format":false,"excerpt":"\r Singapore\u2019s property market is enjoying a sudden lift in an economy mired in recession. A category of buyers labelled as \u201cforeigners, unspecified\u201d, possibly including mainland Chinese, are behind the resurgence.Sales of new non-landed homes, typically referring to flats and condominiums, rose for a fourth straight month to 1,233 units\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43287,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wooing-chinese-investors\/","url_meta":{"origin":109010,"position":2},"title":"Wooing Chinese investors","date":"February 8, 2017","format":false,"excerpt":"\r View of luxury apartments along Singapore\u2019s coastline. Singapore continues to attract mainland Chinese property investors with its greater affordability, world-class education system and lifestyle offerings. At the same time, more foreigners are now looking for investment opportunities in the world\u2019s second largest economy. \u00a0\u00a0\u00a0 Despite the tough cooling measures\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3452,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-singapore-has-avoided-losing-out-to-neighbouring-property-markets\/","url_meta":{"origin":109010,"position":3},"title":"How Singapore has avoided losing out to neighbouring property markets","date":"February 2, 2016","format":false,"excerpt":"\r Regional counterparts\u00a0are in no state to\u00a0take advantage of the Lion State\u2019s \u2018money avalanche\u2019 Singapore is a model property market for the Southeast Asian region and I always advise regional investors to watch it closely to observe how it affects the investment climate of other regional markets. Today I see\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/02\/A-palpable-chill.png?fit=740%2C492&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":36534,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-foreigners-buying-homes-in-singapore\/","url_meta":{"origin":109010,"position":4},"title":"More foreigners buying homes in Singapore","date":"November 30, 2016","format":false,"excerpt":"\r JLL recorded an increase in foreigners buying private homes in Singapore. Singapore\u2019s private residential market attracted even more foreign buyers during the first nine months of this year (9M 2016), according to the latest report from property consultancy JLL. In 9M 2016, foreigners \u2014 excluding PRs (permanent residents) \u2014\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108396,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-luxury-penthouse-deals-fuelled-by-chinese-buyers\/","url_meta":{"origin":109010,"position":5},"title":"Singapore\u2019s luxury penthouse deals fuelled by Chinese buyers","date":"June 24, 2019","format":false,"excerpt":"\r An 11,098 square foot, triplex penthouse at Boulevard Vue sold recently for S$52 million (US$4,686 per square foot) to a buyer believed to be a Chinese national. This latest transaction means the 28-unit ultra-luxury condo by Far East Organization is fully sold to date.There has been a rash of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/109010"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=109010"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/109010\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=109010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=109010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=109010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}