Chart of the Day: 25% of home sales were from non-Singaporeans

They bought 1,324 private condo units, a 0.7% dip in the sales volume.

This chart from Savills Singapore shows that non-Singaporean buyers, including permanent residents and foreigners, purchased 1,324 non-landed private residential units in Q4. Although the transaction volume inched down 0.7% QoQ, their market share increased by 2.0% QoQ to 25.0%.

Top foreign buyers, coming from China, Malaysia, India and Indonesia, acquired a total of 869 units. In addition, foreigners that did not specify their nationalities also bought 173 units in the reviewed quarter.

Savills noted that these non-Singaporean buyers were quite active in the new sales market, taking a substantial number of units at Parc Botannia (57 units), Sophia Hills (34 units) and Martin Modern (34 units).

Savills Singapore senior director Alan Cheong said, “In spite of the higher additional buyer’s stamp duty (ABSD) imposed on non-Singaporeans, the above-mentioned sales numbers indicated that the buying interest from non-Singaporeans has gradually returned, especially in the high-end market.”