Singapore, 02 Feb 2023 SINGAPORE’S property market is bracing for surging demand from Chinese buyers as the world’s second-largest economy reopens.
Real estate agencies in the city-state have seen more inquiries from mainland Chinese, with industry watcher OrangeTee & Tie noting a 10 per cent to 15 per cent increase in January since Beijing announced it was ending three years of global isolation. The border reopening has also seen a spike in queries about immigration to Singapore.
Christine Sun, the agency’s senior vice-president of research and analytics, potentially sees a more than 10 per cent increase in the number of homes purchased by Chinese this year, in tandem with rising supply.