Singapore, 01 Apr 2021 Real estate agents expect a surge in Singapore private residence transactions as Malaysian cross-border buyers in 2020 turned their back on Australia and flocked to Singapore. This is a change from 2019, when Australia ranked first, and Singapore was only third.
Official data from Singapore’s Urban Redevelopment Authority (“URA”) and agents OrangeTee & Tie also reveals that Malaysians are the second most-active foreign buyers of non-landed private homes in Singapore. Non-landed private home purchases by Malaysians climbed quickly in the second half of 2020. Malaysians bought 175 non-landed private homes in Q3 2020. This number rose 11 per cent to 194 units in Q4.
Malaysians Are Second Biggest Buyers of Singapore Homes Christine Sun, Senior Vice President of Research & Analytics at leading Singapore real estate agency network OrangeTee & Tie, said: “Buying interest from Malaysian buyers has been picking up in tandem with the market recovery. In fact, the number of units bought in Q3 2020 and Q4 2020 are higher than the pre-pandemic periods in 2019.