{"id":4240,"date":"2019-10-15T14:17:44","date_gmt":"2019-10-15T07:17:44","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4240"},"modified":"2021-06-04T14:41:36","modified_gmt":"2021-06-04T07:41:36","slug":"china-singapore-luxury-apartment-market","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/china-singapore-luxury-apartment-market\/","title":{"rendered":"China gets credit for Singapore&#8217;s booming luxury apartment market"},"content":{"rendered":"<p>Stable Singapore dollar, devalued yuan, and Hong Kong\u2019s unrest prompted mainland Chinese property investors to focus on Singapore<\/p>\n<figure id=\"attachment_4241\" aria-describedby=\"caption-attachment-4241\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-4241 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/10\/shutterstock_1089330950.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/10\/shutterstock_1089330950.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/10\/shutterstock_1089330950-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/10\/shutterstock_1089330950-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-4241\" class=\"wp-caption-text\">Exclusive residential condominiums in the center of Singapore. ArtornThongtukit\/Shutterstock<\/figcaption><\/figure>\n<p>The luxe residential market in Singapore has witnessed a growing interest from mainland Chinese investors, <a href=\"https:\/\/www.straitstimes.com\/business\/property\/singapores-luxury-apartment-market-is-hot-thanks-to-china\" target=\"_blank\" rel=\"noopener noreferrer\">The Straits Times<\/a> reported, citing data from Colliers International Group.<\/p>\n<p>Tricia Song, the head of research for Singapore at Colliers, sees the stability of the Singapore dollar as a possible cause, urging Chinese buyers to move their funds from their home country after yuan was devalued. She also believes that the turmoil in Hong Kong has encouraged them to look for an alternative country to invest in.<\/p>\n<p>Since the start of the year, foreigners have purchased 315 apartments in the premier central region of Singapore. Out of these units, Chinese nationals bought 97 or around one-third, making them Singapore\u2019s biggest foreigner buyer group.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/wealthy-foreigners-pour-back-into-singapore-market\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>MORE: Wealthy foreigners pour back into Singapore market<\/strong><\/a><\/p>\n<p>Hong Kongers, on the other hand, only purchased 8 units.<\/p>\n<p>&#8220;Based on the available data, we have not seen any strong evidence to suggest a sharp inflow of Hong Kong money into Singapore residential properties,\u201d shared Song. Their research instead found Chinese investors\u2019 growing interest in luxury homes.<\/p>\n<p>The Urban Redevelopment Authority home-price data revealed that the price of luxury apartments grew by 2.9 percent in premier and central locations from June to September, compared to the previous quarter\u2019s 2.3 percent increase. Throughout the year, the residential rates rose by 0.9 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stable Singapore dollar, devalued yuan, and Hong Kong\u2019s unrest prompted mainland Chinese property investors to focus on Singapore<\/p>\n","protected":false},"author":9,"featured_media":20313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[137,522,110],"class_list":["post-4240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-china","tag-residential-property","tag-singapore","news_country-china","news_country-singapore","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China gets credit for Singapore&#039;s booming luxury apartment market | 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