Despite the increase in the additional buyer's tax, some luxury buyers still consider luxury properties in Singapore cheaper than in other cities, which have also increased significantly.
The latest real estate cooling measures will have little impact on these high net worth individuals as they all have ample cash and capital.
Foreign buyers purchased 143 luxury homes in the first eight months of 2022, compared to 51 in 2020 and 136 in 2019 before the outbreak.
The number of luxury homes purchased by foreign buyers accounted for 23.6% of total luxury home transactions, compared to 10.9% in 2020.
Resale prices of private homes in Singapore also climbed for the 26th consecutive month. Demand in the real estate market is very strong and resale prices of private homes continued to rise in the fourth quarter, with prices increasing by 15% for the year.
These figures amply demonstrate that the epidemic, property cooling measures, and the current rise in interest rates have had little impact on out-of-town homebuyers.
In the heart of Singapore, The M, due for delivery in 2023, is a premium option.
Located in Bugis, the seventh postal district of Singapore, it enjoys convenient surrounding facilities, and a supportive living circle.
Bugis is a very popular shopping and cultural area for youngsters. The project is within walking distance to Bugis Junction Shopping Centre, where you can enjoy international cuisine and a rich leisure and entertainment life 24 hours a day.
The famous food street Liang Seah Street and Tan Quee Lan Street are also located behind the project. Also nearby is the online celebrity hit spot, Haji Lane.
The colorful houses and murals have a strong street feel, and the many Middle Eastern restaurants and distinctive bars allow residents to relax there after a busy day at work.
Close to the National Museum and National Library, and adjacent to the top three art colleges in Singapore.
The M was created by a team of renowned designers, including the award-winning project design firm Barmattan Group, as well as world-class interior design, landscape design and lighting design firms.
The M was built on two separate open-air terraces, on which the apartment infrastructure is distributed.
One is the area above the parking lot, and the other is set on the roof of the six-story building, where residents can enjoy the bustling view of the city from the open terrace at any time.
Whether covered by greenery during the day or the building's lighting design at night, The M will be one of the landmarks on this bustling street.
In addition to offering amenities such as a 50-meter swimming pool, gym, yoga studio and garden pavilion, the project has also crafted an M Club, a carefully created shared living space where residents can work, work out, meet and other activities, or share a baking area to create a favorite treat.