Non-PR Foreigner share in the high end condos in choice districts and bungalows in Sentosa have increased according to Savills; said the BT article.
Breakdown by Nationality
1) Chinese fleeing restrictions on property buying in their home market and instead parking their monies in Singapore's property market.
3) Singapore is seen as a property buying destination in Asia for its transparency, political stability and relative safety----AAA rating in the eyes of these HNWIs.
Who are these buyers ?
They were the fourth largest foreign buyers of high-end apartments in Jan-Nov 2011, with 31 caveats or a 2.2 per cent share of total purchases.
A longer-term comparison reflects a similar picture. The number of high-end apartments bought by Indonesians has roughly halved from 438 in 2007 to 236 in Jan-Nov 2011, while the number of caveats lodged by mainland Chinese has quadrupled from 43 to 170.
Breakdown by Region