Rich Chinese are flocking to buy luxury Singapore condos
- Buyers from China purchased 932 private units in the first eight months of 2022, almost twice the number bought by Malaysians
- Total foreign transactions this year are also close to pre-pandemic levels, reaching more than 14,000 by August

Chinese buyers also took the top spot for luxury condominiums north of S$5 million (US$3.5 million), accounting for almost 20 per cent of sales, or 81 units. US citizens came in second with 34 units.
While Singapore introduced property curbs in December 2021, increasing stamp duties for second-home buyers and foreigners purchasing private property, that’s not deterred interest. Some foreign buyers consider luxury properties in the city state to be cheaper than in other cities, said the report. It added that the new cooling measures introduced last week is “not likely to be significant” for high net worth individuals.
Singapore is likely to tighten monetary policy this month, the fifth time in a row, amid persistent inflation in the Asian financial hub due to global supply chain disruptions and a tight labour market.
