Something unexpected has taken place in the second quarter of the year – Indonesians’ share of private home purchases here by permanent residents and foreigners sank to a fresh low.
So much so that Indians zoomed past to emerge as the third largest group of non-Singaporean buyers in the quarter. Indonesians came in fourth.
In absolute numbers, though, purchases by both nationalities increased quarter on quarter amid an across-the-board rise in private home transactions, according to a DTZ analysis of URA Realis caveats data.
In the April-June period, Indonesians bought 95 private homes, a 13.1 per cent rise from 84 a quarter earlier. This gave them an 11 per cent share of the 834 units acquired in Q2 by PRs and foreign buyers – the lowest recorded in the URA Realis database that dates back to Q1 1995.