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Chart of the Day: Foreigner-bought posh home sales held steady in 2018-19
The hiking of total buyer stamp duty did not seem to have fazed foreign buyers.
This chart from JLL reveals that the number of residential units priced $2,000 per square feet (psf) bought by foreigners remained relatively unchanged from 2017 to 2019.
This was despite the hiking of total buyer stamp duty payable for residential purchases by foreigners from 19% to 24% in July 2018.
“The Singapore government has actively regulated the residential market carefully over the last decade and we expect this trend to continue. While this may not provide any opportunity for fast capital gains, we believe it also ensures the downside risks are limited,” JLL said.
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