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In The News Press Release
by OrangeTee & Tie Pte Ltd.

Foreign buying of Singapore apartments drops to 17-year low

Others

Others

“For the luxury market, many buyers prefer to physically inspect the premises or visit a show flat before making a purchase,” said Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie. “Last year, many overseas buyers were not able to travel to Singapore to view properties in person which may have resulted in a dip in foreign purchases.”

Non-permanent resident apartment purchases in 2020 accounted for just 4.1 per cent of total sales, the lowest in more than two decades, according to government data compiled by ERA Realty Network and OrangeTee & Tie.

Singaporeans currently form the biggest proportion of buyers, according to government data. The contribution from that group rose two percentage points to 80.2 per cent last year from 2019.







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