Fewer Chinese buyers purchased condos in prime districts

penrose-condo-less-china-buyers-bought-properties-in-ccr-singapore

This reflected a drop in the share of condominiums snagged by Chinese purchasers in the city state.

This chart derived from EDMUND TIE shows that the share of condominiums in the traditionally popular prime districts sold to mainland Chinese property buyers fell by 24% in year 2019, as compared to 28% in 2019. However, they maintained as the top buyers of condominiums in the region. In fact a number have invested in Penrose condominium.

Besides foreign purchasers of unspecified origin, after China, Indonesians made up of 12.1% of the condo sales, and Malaysians took up 9.6%. Other nationalities in Europe and Asia were also involved in sales in the region. Penrose was a popular choice among the investors.

Throughout the island, the share of condominiums sold to mainland Chinese purchasers shrank to 27% in the midst of foreign home purchasers of 2019, as compared to 32.9% in year 2018. The fraction of foreigner purchasers saw a mild uptick in the last 2 quarters of 2019 at 7% each quarter.

Source: https://sbr.com.sg/residential-property/news/chart-day-fewer-chinese-buyers-purchased-condos-in-prime-districts

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