“The rising number of affluent locals purchasing luxury homes indicates their confidence that Singapore remains a safe haven for capital preservation and appreciation,” Christine Sun, head of research and consultancy at OrangeTee, said.
(Apr 29): Singaporeans’ deep-seated desire for home ownership has seen them snap up the biggest share of residential properties versus foreigners in a decade.
About 79% of private apartments went to Singaporeans in the first quarter, the most since the first three months of 2009, according to property consultants OrangeTee & Tie. And the homes weren’t cheap – the proportion of local purchases of luxury units jumped to 69% from 36% in the same period a year ago.
