The Chinese are top foreign buyers of residential properties in Singapore

The proportion of purchases made by foreigners in Q2 2011 was similar to the 16% recorded in Q1 2011. In absolute terms, foreign purchases were 1,327 in Q2 2011, below the record high of 1,741 foreign purchases in Q2 2007. With the exception of one landed home in Sentosa Cove, the rest of the transactions by foreigners were for non-landed homes.

Among non-Singaporean buyers which comprise foreigners and Permanent Residents, mainland Chinese buyers were the top non-Singaporean purchasers of residential properties in Singapore for the second consecutive quarter. They made up 26% of purchases by non-Singaporeans in Q2 2011, buying 640 units, which is a new high and more than the 527 units purchased in Q1 2011.