Mainland Chinese buyers have been active in the foreign purchase market in Singapore, making up almost 30 per cent of sales, or 8 per cent of total sales.

The number of units purchased in June jumped up to 650, a significant increase from the 100 units sold in May.

Second quarter numbers are even more impressive when broken down by price. Chinese purchased nearly half of all private homes priced at S$1.5million (US$1.2million).

Meanwhile, Singaporean buyers dominated the more affordable sector, buying 75 per cent of houses costing S$500,000 (US$413,200).

Reports are that most of the units purchased are used as holiday homes. The Singapore market may also be attractive as it lacks the turbulent effects of the Chinese market.

Please contact us in case of Copyright Infringement of the photo sourced from the internet, we will remove it within 24 hours.