More luxury properties priced over $10 million are sold this year than in the previous 11 decades.
Singapore’s political and economical equilibrium draw for land investors
The gain in demand for luxury properties are mostly fueled by Chinese millionaires searching for safe-havens to park their resources. Revenue of these properties have increased yearly since 2011 and at the first 8 weeks of 2019, the maximum amount of luxury properties priced over $10 million have been sold since 2008. 68 these condo units have been sold so far.
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The present political instability in Hong Kong along with the weakening of the Chinese yuan because of the US-China Trade War might also have pushed investors to look elsewhere. Regardless of the increased postage responsibilities from 15% to 20% for thieves buying houses in Singapore, the requirement for expensive flats in exclusive neighbourhoods are on the upswing.
Investors prefer flats in exclusive neighbourhoods
Similar acquisitions created by Singaporeans has been 75, which meant Oriental investors made up roughly 50% of earnings in this industry alone.
While Singaporeans frequently favor private landed houses with the cost they must cover luxury flats, thieves are foreigners aren’t allowed to buy landed houses in Singapore with the exclusion of these at Sentosa.