Americans Unseat Chinese as Top Foreign Homebuyers in Singapore

Americans replaced Chinese as the top foreign buyers of private apartments in Singapore, according to OrangeTee & Tie.

Mainland Chinese have been the largest foreign buyer group in the Asian hub since 2016, accelerated by an influx of wealth into the city-state during the pandemic. To keep a lid on prices, the government doubled stamp duties for foreign buyers to 60% — the highest among major markets — and also raised levies for buyers of second homes in late April.