Mainly due to Mainland Chinese riches invest in Singapore regarding the city-state as a safe haven for assets, high end private property transaction of $10 million is at 11 year high at the moment.
The republic is widely regarded as a stable destination with potential by Chinese millionaires as well as ultra-rich from neighbouring countries.
According to analyst, there are activities of fund shifting from China as the country’s currency depreciation amid ongoing trade war with the United States, while Hong Kong are posing potential threat due to current political instability issue.
Christine Sun, head of research of OrangeTee & Tie, noted that there are increasing number of foreign buyers especially from China, are investing in Singapore high end properties. At the moment, mainland Chinese form the high number of foreign investors for luxury homes in Singapore.
Market watcher observed steady flow of foreign buyers despite last year measures of increasing additional stamp duty, due to local financial stability and systematic administration. Most buyer are optimistic with the Republic and don’t expect Singapore currency to depreciate overnight.
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