Foreign transactions of non-landed homes increased in June 2020

Steep Rise In New Non-Landed Private Homes Bought By Foreigners Jun 2019 to Jun 2020

This graph above from OrangeTee & Tie revealed non-landed private residences purchased by non-permanent residents (NPR) has gone up to 49 units in June 2020, a jump from the earlier 14 units sold in May 2020 and 7 units in April 2020. From this trend, the developer is confident Penrose condo will be attracting a lot of foreign buyers when it launches.

The figures of non-landed housing bought by foreigners is also more than the 33 units sold back in June last year.

Furthermore, the figures of non-landed homes purchased by Singapore permanent residents (PR) has skyrocketed from 56 units in May 2020 to 120 units in June 2020, higher than the 86 units transacted in June 2019.

More foreign purchasers are acquiring private homes remotely because of travel restrictions or nationwide lockdowns imposed in many countries. This is in sharp contrast to the past where many foreign buyers generally purchase a unit only after visiting a sales gallery.


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