Foreigners are once again pouring money into Singapore's high-end property ...
SINGAPORE - Foreigners are once again pouring money into Singapore’s high-end property market despite hefty levies introduced last year.
Some of the Chinese investors are apparently buying into these luxury homes in the city state as a safety bet against the U.S.-China trade war. Fresh interest is also being driven by instability in rival financial hub Hong Kong, the brokers say. Chandran, who is currently marketing a S$12.8 million penthouse, said there has been a rush of potential Chinese buyers to view the property in recent weeks.
In recent years, Chinese buyers have become the dominant players in Singapore’s prime residential property markets, taking over from wealthy tycoons from surrounding Malaysia and Indonesia.
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