SINGAPORE – Singapore’s property market has seen a significant drop in foreign buyers over the past year, even as global wealth continues to accumulate in the city-state.
While China remains Singapore’s largest source of new wealth inflows, the latter holds about 25 per cent of all Indian cross-border wealth, making it the top centre in the region for Indian wealth, according to management consultancy Boston Consulting Group’s Global Wealth Report 2024. The firm primarily targets properties starting from around $5 million, such as high-end condominiums and single-family homes, or standalone properties.
While there may be optimism about long-term growth in the luxury residential sector, others believe the current regulatory environment could delay a resurgence in foreign demand.
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