Singapore's luxury home sales fall 50% on-year in Q1, foreign buyers down 98% 

With 60% tax on luxury properties for foreigners, i predict there will be close to zero property buy by foreigners , for the next 50 years

The Fujian gang has been caught, and their over 3 billion confiscated, of course the luxury market is down.

HDB is for living not for investing not making money. Its gone wrong already. As for those who loaded up on properties with long and high mortgage, pray you dont lose your job…

HDB homes should not cost 1.5 or even 2 Million. Unless the average person earns $ 20,000 / month. Also, Singapore has become too expensive generally.

The cooling measures came in too late and the damage has already been done as the cost of housing has gone up far too high. Cost of living in Singapore is too high especially for young couples.

5M home with 3M tax..how stupid to invest rather than invest tax friendly or not tax at all in Dubai..make sense?

Overpriced.

That's why Sentosa psf price fallen to $1.6K, always good to increase taxes on foreigners, a further 100% increase on ABSD for foreigners would be great.

Don‘t just talk about luxury home, look at all the resale HDB flat, it gone ridiculously high, who is buying it ! ?

These luxury homes are palaces of greed and shame, at a time when so many people are struggling.

$5M house with a $3M tax? 😅

Rich people had woke up to this unrealistic biggest property bubble in the world. Real estates world wide are crashing. How long it can resist the law of eonomics? No value for Money. .

All for a concrete cubicle in a highrise? No, thanks.

It is a good move to cool down the luxury property market. Although it is not a strong correlation, their prices weakly correlated with the rest of the property market and have spill-on effects on commoner housing choice.

Foreigners = chinese Also, HK has abolished all property curbs including taxing mainland chinese. Therefore they are going to buy in HK rather than SG.

As far as I know, specifically the houses which includes high rise apartments or landed in sentosa, the selling price has been dropped drastically.

Could it be that the foreigners had converted to PR or citizens to avoid these additional ABSD?

1:51 Jasmine Png the beautiful property agent 🧚‍♀👰

What a rip off. Foreigner is not stupid to pay that much in property tax.

Japan government must do the same thing immediately, because foreign buyers drove housing prices tremendously recently, and locals are really struggling to buy dwelling now.

Just introduce MSR. if EC AND HDB has MSR private properties should have too, or else the loop hole of manipulating TDSR continues.

I’ll be buying when it drops to 80%

I wonder if Chinese Mainlanders are still the majority of foreign buyers? Singapore is a wonderful place.

In KL, lately we get many mainland China buyers inquiring and buying properties lately. Maybe that's where they all went

Sales down, prices up?

Crazy things happen in this world, but they never last, just like the tulip craze a couple of centuries ago.

all the hdb flats are for foreignerd.1million yes

The newer luxury homes are not that luxury…smaller spaces, common layout, nothing special…plus high price just dont make sense…

The intent of the high ABSD was said to prevent speculation in residential properties. However, it will also drive up prices. If one bought a property with the high ABSD, he, in the future, will sells off that property with the original price plus the additional ABSD plus profit. Prices of new properties would follow the sub-sale market. Anyone thinking of buying private property would be priced out. With better communication options in the future, such as the MRT connecting JB, people would buy residential properties in JB. With homes in JB, they will shop & eat in JB, resulting in the Singapore retail sector being hit hard; subsequently malls will be like ghost towns & prices of retail properties suppressed.

Singapore Hdb property had been world's worst asset investment for 8 years previously, as the property market went down or remain stagnant from years 2013 to 2021, with non stop cooling measures, so for those 8 years, property gains was zero or negative for 8 long years

For many other countries in world , average home prices are 15 to 30 times the average annual household income , so Singapore's ratio of 3 to 5 times is actually one of lowest in whole world

Foreigners can get Singapore PR and Passport with ease ! 😅

Prices are STILL Rising What's there to Celebrate ?

Price still go up. Don’t omit price reporting to appease public

REIT all down since last year june,look at pronex stock market crashed. don't u realized sg property overvalued? so many chinese people came to singapore become citizen bought houses & partition it 1room to 3 to be rent out, 1 landed 4 rooms became 15 peoples as accommodation, very annoying all these people come rent a house and re-rent again.. or maybe this is a corp rent?

Who is the NDM Singapore ? He will strike lottery as housing for all are no1 priority.

Jasmine pang❤

we have world housing bubble and some parts already bursted like china which is down more than 50% from their highs.

That 52 units by one single buyer.

About time!

waiting for the conclusion of weak penalties impose on the launderers and agents...before making their next move...

房价.....今日香港, 明日/现在新加坡

That one foreigner who brought that 1 property must be really rich😂

Wow Jasmine Png.

Yay!

新加坡的屋子是风水宝地😊😊😊😊天机不可謝漏

My understanding is that Iceland, Liechtenstein, Norway, Switzerland, and USA citizens dont pay ABSD, but still no-one is buying.

The glamorous facade of Singapore is fading.

disgusting that homes in Singapore can be used as investment.

Let's not kid ourselves, it's not the absd.

Just lease

We are know what we are here for

SGP-too expensive, Choose from 7,641 other Islands off the Phillipines. Clean water little tax and almost zero expatriate Chinese economic refugees.

pls buy my 10 luxurious HDB flats, each one will only costs 2mil SGD

Singapore properties and cost of living have gone too expensive now, overtook Japan and Hong Kong, it’s not sustainable and this bubble will burst, just like what happened in China now. Houses must be bought for own staying only and never allowed or encouraged for investment for quick money gain, people would soon realize that buying houses for investment is a bad decision and a painful one, let them learn that hard way.

Always a reactive government, never a proactive.

Wow now that’s a tax no wonder real estate has virtually closed up shop whohahahahaha

that happen when greed come to play

china still no 1, thank you china the great for your money

how to close your country 101

CNA chose the right thumbnail for men of culture

Who cares, buyers are going to move to Malaysia soon, thanks to the low ringgit and second home scheme.

Industry got the Space in Singapore 🇸🇬. When Moderate Property Taxes are in Economy then the Real Purchase Power gets into the Market for the GDP Growth 💹.

Hot money especially from Chinese national fleeing from USA and EU to singapore and China four national banks after Russian assets was frozen by USA that headed to real estate in singapore are now taking profit because of USA national debt issue. Real estate in singapore will get glimpsed moving forward. Most of the money will go into gold and commodity. There is a second wave of hot money from the same countries are underway after USA passes a law confiscating Russian assets are taking temporary shelter in the same singapore and China banks. It will take a longer time to leave USA and EU because this assets are mainly non liquid. It takes time to off load non liquid assets. If EU were to succumb to USA demand then the whole world financial system will go haywire. Gold and commodity will be their hideout for quite a while to come. But some will move into ASEAN member countries especially those that it economy are above water.

Sorry, nothing special about Singapore. Why waste your money there.

Only a clown or fool will buy property and pay 60 % tax, as it would be impossible not to make huge loss in future, when the buyer need to sell . Even if he/she hold the property for 100 years, he may not make even $1 profit

Money laundering activities are helping this luxury apartment sold weird the G still encourages this

Maybe our ministers can help?

Totally irrelevant to ultra middle class like me.

Money laundering caught....

5 million?! Fiat Money is a psyop. Watch Zimbabwe 100 trillion dollar banknote. Coming soon apartment price 100 trillion.

haha well done!

*The total house value should generally be no more than 3 to 5 times their total annual household income. So if our HDB is sold for 1 million dollars, the buyer household should have a combined income of $200,000 to $330,000 a year. If not then we are all made suckers. I have bought a resale 3 room HDB flat for $335,000 last year as a bachelor. My annual income is $71,000. So my purchase is almost in the multiples of 5, which is already in the high end of the desired multiples!! If you can't keep the multiple below 5, then should consider Johor or even migration. Simply not worth it to buy any higher!!*

The are all buying over the bridge! 🤣🤣🤣

No more money laundering

Sum ting wong

Cheh. You use click bait. I wasn't even interested in luxury properties siah.

Chinese Singaporeans constitute 75.9% of the Singaporean citizen population according to the official census, making them the largest ethnic group in Singapore. China in a coat.

China: welcome to the club

Womp womp

go to 0 brother

There no need for GCB and B&W houses and luxury condo. Hope PAP take them all back and build high rise building to accommodate more people. We must prosper as a nation that what British told us about Common Wealth 😂😂😂

Less (born in China) illegal gambling/scam crimelords buying 😅

China's 🇨🇳 economy is on a free fall. - This is an indication that China is taking Singapore with it because of its close relationship with China.

Pure nonsense again.

is Singapore part of China?

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S'poreans enjoy stable and high-paying jobs in a safe and secure environment. PAP has made this possible and it's the only competent and responsible party in s'pore.❤❤

Kaput

Time to buy in India fastesr growing economy mumbai noida Ahmedabad Bengluru surat

Finally realizing what will be coming to SIngapore? Hee hee hee hee... ... Welcome to Singapore, please come... ... Just don't try to run away... ... Hee hee hee hee hee hee... ... Have fun.

No one cares about Singapore.