22 May '17, 1am

Bulk of buyers are foreigners or Singapore PRs.

Bulk of buyers are foreigners or Singapore PRs.

THE number of private apartments and condo units transacted at S$10 million and above each rose to 36 units last year - from 21 units in 2015 and 24 units in 2014. And the momentum continued this year, with 16 units sold from January to April. Most market watchers believe that the bulk of buyers are foreigners or Singapore PRs. As JTResi founder Jerry Tan said: "Generally, Singaporeans, if they are looking to acquire a big-ticket property costing S$10 million or more here, would rather pick a landed home than a condo." Foreigners and PRs face restrictions on the purchase of landed residential properties but are free to pick up private apartments and condos. Mr Tan observes that the foreigners and PRs who are buying luxe condo units here are doing so mostly for owner occupation - that is, they are either based here, or use their Singapore home during their visits here, whil...

Full article: https://www.srx.com.sg/singapore-property-news/36862/luxe...

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