“Non-residents from China accounted for 1% of private property transactions in 2022: Indranee” (Feb 14)
“Non-residents from China are not involved in a significant number of property and rental transactions in Singapore, said Second Minister for National Development Indranee Rajah in Parliament on Tuesday.
She noted that in 2022, they accounted for 1 per cent of all private property transactions, and about 7 per cent of private rental transactions.
On rental transactions for Housing Board flats, Ms Indranee said non-residents from China accounted for 14 per cent of such transactions, and added that non-residents are not allowed to buy HDB flats.”
Comment:
The above is arguably, kind of like “telling you half a story”
What is the percentage of the dollar value of transactions & rentals (not just the no. of transactions) by Chinese foreigners, Chinese PRs & Chinese new citizens?
In this connection, “Chinese buyers have snapped up the biggest share of Singapore’s condo market in 2022 compared with other foreigners, as total foreign buying of private non-landed homes almost bounced back to pre-pandemic levels.
Buyers from China (both permanent residents and non-PRs) purchased 932 private non-landed units in the first eight months of 2022, almost twice the number bought by Malaysians, who came in second, according to a report by real estate consultancy OrangeTee & Tie.
The Chinese have been the biggest foreign buyer group since 2016 and account for 6.7 per cent of total transactions in 2022.
They also took the top spot for luxury condominiums going for $5 million or more, accounting for almost 20 per cent of sales or 81 units.”
https://www.straitstimes.com/……/buyers-from-china……
