Find out the most recent foreign buyer profile in Singapore’s residential market | Real Estate Asia
, Singapore

Find out the most recent foreign buyer profile in Singapore’s residential market

The Americans overtook the Chinese in terms of foreign residential demand.

According to a recent report by EDMUND TIE, the number of homes sold to foreigners in Singapore declined by 13.4% from 292 units in Q2 2022 to 253 units in Q3 2022. 

Nonetheless, in terms of proportion, the share of homes sold to foreigners remained broadly stable at 4.7% in Q3 2022 as compared to 4.8% in the previous quarter, amid rising interest rates and ongoing macroeconomics headwinds.

Here’s more from EDMUND TIE:

The share of foreign demand rose in the two market segments, RCR and OCR, from Q2 2022 to Q3 2022, with 4.4% to 4.7% and 1.4% to 2.0% respectively. Amid rising prices, foreign investors are casting their nets wider to include more affordable properties located in the fringe and suburban locations. Foreign demand share in the CCR, on the other hand, fell from 12.2% to 11.4% from Q2 2022 to Q3 2022.

On the other hand, the Americans overtook the Mainland Chinese in Q3 2022, for the third consecutive quarter, taking the top spot in foreign demand in both CCR and RCR, accounting for about a fifth of the transactions by foreigners in each segment. The Mainland Chinese overtook the Americans in Q3 2022 to take the top spot in foreign demand in the OCR, accounting for about a third of the transactions in the segment. The resilience of the Singapore property market has buoyed Mainland Chinese investors’ confidence and interest in Singapore as a safe haven. It appears that they are now taking a stronger interest in the more affordable segment of the market.

Unit size

In the non-landed primary market, the sweet spot in Q3 2022 by unit size was for units between 700 and 1,000 sq ft at 36% share, up from 27% in the previous quarter, driven by new project launches such as Lentor Modern, AMO Residence and Sky Eden@Bedok.

The share of new non-landed units priced $1.5 to $2 million rose from 29% in Q2 2022 to 36% Q3 2022. These transactions were mainly from projects such as Lentor Modern, AMO Residence, Sky Eden@Bedok, Hyll on Holland and Leedon Green. For instance, 44% of the sales transactions in Lentor Modern were priced at $1.5 to $2 mn.

 

Follow the links for more news on

Join Real Estate Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

How Metland Indonesia deals with weaker residential purchasing power
The real estate firm continues to expand with residences that are attractive to consumers because of pricing, the ‘growing house’ concept, and sustainable features.

Event News

Event News

Real Estate Asia Awards 2023 Winner: Henderson Land Development Company Limited
Henderson Land Development Company Limited wins big at the Real Estate Asia Awards 2023 taking home 3 notable accolades, the Developer of the Year, Mixed-Use Development of the Year, and Residential Development of the Year awards for Hong Kong.
Real Estate Asia Awards 2023 Winner: Henderson Land Development Company Limited
Henderson Land Development Company Limited wins big at the Real Estate Asia Awards 2023 taking home 3 notable accolades, the Developer of the Year, Mixed-Use Development of the Year, and Residential Development of the Year awards for Hong Kong.