Indonesians Were Biggest Foreign Buyers of High End Units in Singapore
Demand for luxury housing is coming from wealthy indonesians in 2016. This year purchases by Indonesian nationals of homes valued at S$5 million or more has nearly quadrupled from last year’s total. Indonesians were the top foreign buyers at OUE Twin Peaks tower which went on sale in July.
“This year purchases by Indonesian nationals of homes valued at S$5 million or more has nearly quadrupled from last year’s total,”
Although numbers in the official data are small, it showed that Indonesians bought 30 Singapore properties valued at S$5 million or more between start of the year and Aug. 17, compared with only eight such deals for entire 2015. During the first half of this year, Indonesians bought 189 properties of all values in Singapore, 23 percent more than in the same period last year, data from Cushman & Wakefield Inc.
About Cushman & Wakefield
Cushman & Wakefield is an American commercial real estate services company. The company’s global headquarters is located in Chicago, with regional headquarters in New York(Americas), London (EMEA), and Sydney (APAC). Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion. The firm operates in more than 60 countries and has 43,000+ employees.
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