Real estate agents expect a surge in Singapore private residence transactions as Malaysian cross-border buyers in 2020 turned their back on Australia and flocked to Singapore. This was a change from 2019 when Australia ranked first, and Singapore was only third.
Official data from Singapore’s Urban Redevelopment Authority (“URA”) and agents OrangeTee & Tie also reveals that Malaysians are the second most active foreign buyers of non-landed private homes in Singapore.
Non-landed private home purchases by Malaysians climbed quickly in the second half of 2020. Malaysians bought 175 non-landed private homes in Q3 2020. This number rose 11 percent to 194 units in Q4.
Juwai IQI Group Co-Founder and CEO Kashif Ansari said:
“Singapore offers several advantages compared to other destinations in Asia. Singapore has strong political leadership, sound economic fundamentals, and global status as a commercial hub.
Besides, it is extremely accessible. These are the reasons it has become Southeast Asia’s primary hub for second-home ownership. It offers education, financial services, investments, stability, and lifestyle.”
Thailand, Canada, New Zealand, United Kingdom, Japan, Indonesia, and UAE are also ranked top 10 among Malaysian buyers.
Read more: RETalk ASIA
Source: RETalk ASIA
