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

Sales of luxury homes in Singapore have fallen by 50 per cent in the first quarter of this year compared with the same period in 2023. Such homes, mostly apartments, are those worth at least S$5 million. Foreigners buying these homes have dropped by 98 per cent, with just one sale to an overseas buyer. In April last year, property taxes for foreigners to own a residential home doubled, in a move by authorities to stabilise the market. CNA’s Rebecca Metteo reports. Subscribe to our channel here: https://cna.asia/youtubesub Subscribe to our news service for must-read stories: Telegram - https://cna.asia/telegram WhatsApp - https://cna.asia/whatsapp Follow us: CNA: https://cna.asia CNA Lifestyle: http://www.cnalifestyle.com Facebook: https://www.facebook.com/channelnewsasia Instagram: https://www.instagram.com/channelnewsasia Twitter: https://www.twitter.com/channelnewsasia TikTok: https://www.tiktok.com/@channelnewsasia