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Sales of luxury apartments here hit 11-year high

Sales of luxury apartments here hit 11-year high.

Sales of Singapore apartments worth at least $10 million each have hit an 11-year high, fuelled by increased demand from Chinese millionaires seeking safe-haven assets, said property consultancy OrangeTee & Tie.

Investors have long viewed Singapore as an island of stability that attracts the super rich from its less developed South-east Asian neighbours, as well as multi-millionaires from mainland China.

In the first eight months of this year, 68 condominium units in the wealthy city state were sold for $10 million and more each, the highest tally since the corresponding period of 2008.

To read more: https://www.straitstimes.com/business/property/sales-of-luxury-apartments-here-hit-11-year-high

Adapted from The Straits Times 24 September 2019