Chinese Looking to Homes in Singapore

Chinese have overtaken Malaysians as the second-largest overseas buyers in Singapore’s residential market. Indonesian buyers accounted for 24% of sales, Chinese buyers for 16%, and Malaysians for 14%. But Chinese made up the largest porportion of those buyers who spent S$5 million or more on residential property in central and prime markets and in the first quarter 31% of the 54 homes worth S$5 million or more were sold to Chinese buyers. The Chinese buyers were motivated by the fact that many had children studying in Singapore.

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