Sales of Singapore apartments worth at least S$10 million ($7.3 million) have hi...
SINGAPORE - Sales of Singapore apartments worth at least S$10 million have hit an 11-year high, fueled by increased demand from Chinese millionaires seeking safe-haven assets, say property consultants OrangeTee & Tie.
In the first eight months of 2019, 68 condominium units in the wealthy Asian city-state were sold for S$10 million and more, the highest tally since the corresponding period of 2008. “This may explain why we have observed more foreign buyers, especially mainland Chinese, coming into Singapore lately,” said Christine Sun, its head of research and consultancy.In Singapore’s prime districts, Chinese citizens bought 76 apartments worth more than S$5 million in the period from January to August, versus 75 purchases by Singaporeans, data until Sept. 19 show.
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