Of all private residential units transacted so far this year, only 1% involved bulk purchases of properties.

The percentage of purchases of more than 2 units is even lower, at about 0.2%. Therefore, large-scale property purchases are unlikely to have a significant impact on the real estate market.

It is still unknown whether the government will impose higher levels of additional buyer's stamp duty on buyers who purchase more than a certain number of units in a development.

Bulk purchases do have advantages, such as whether discounts for bulk purchases will offset or cushion the impact of previous ABSD increases.

ABSD is designed to moderate the growth of investment in residential properties and therefore differentiates between buyers based on their residency status in Singapore and the total number of residential properties owned.

The existence of ABSD greatly restricts buyers from purchasing multiple units. Those who already own at least one home will face higher tax rates when purchasing a second or more homes.

In December 2021, the ABSD tax rate for all status buyers increases, except for first home purchases by Singapore citizens and permanent residents, where the tax rate remains at 0% and 5%.

Last year, the same buyer bought 20 units at Eden, a luxury condominium on Orchard Road. The buyers were reportedly Want Want Group Chairman Chua Eng Meng and his son.

In recent months, there have been several instances of wealthy individuals buying property in large numbers. Just in June this year, a Chinese national bought 20 units in a single transaction at CanningHill Piers on the Singapore River for more than S$85 million.

The lucrative deals by the rich have repeatedly rocked Singapore's housing market. The 3 Orchard-By-Park on Orchard Road also saw big purchases. The Chinese tycoon bought four luxury homes in one go, ranging from 3,600 to 3,700 square feet, for a total deal of S$60 million.

It is common to buy multiple units when a new project is launched. If members of the same family buy more than one unit, developers usually give priority to potential buyers who express strong interest in buying more than one unit at the time of the preview release.

However, developers also say that this is not a common occurrence, accounting for less than 5% of the units sold at the time of listing, which is a handful.

As to whether large purchases receive a discount, it is not necessarily the case that buyers will receive a better price, depending on how well the developer's project is received in the market.