Singapore Foreign Buyer Share 2025: Savills Data Recap
Foreigners took 1.2% of Singapore residential deals in FY 2025, with 297 transactions up 10% YoY off a historic low. Full Savills breakdown inside.
By Invest Singapore Editorial · Updated June 17, 2026 · 4 min read
Quick answer: Foreign buyers completed 297 residential transactions in Singapore during FY 2025, a 1.2% share of total market volume, up 10% year on year from a record low base. That 10% rebound does not signal a structural recovery. It reflects 27 additional deals added to an already suppressed level, and foreign market share remains a fraction of the 6.4% recorded in Q1 2023 before the April 2023 Additional Buyer’s Stamp Duty (ABSD) increase to 60%.
What the ABSD Hike Did to Foreign Demand
Singapore raised the ABSD rate for foreign residential buyers from 30% to 60% in April 2023. The measure was targeted: regulators wanted to remove speculative offshore capital from a residential market where Citizens and Permanent Residents compete for limited housing supply.
The effect was sharp and sustained. Foreign transaction volumes fell immediately through 2023 and reached a record low in FY 2024. The rebound to 297 deals in FY 2025 looks positive on a percentage basis, but context matters. At 1.2% market share, foreign buyers are functionally absent from the Singapore residential market compared with where they stood just three years ago.
For a detailed cost breakdown and legal structuring options, see the ABSD guide for foreign buyers and the related article on FTA ABSD remission for Singapore property.
Buyer Category Breakdown: FY 2025
The table below shows the full split of Singapore private residential transactions by buyer category for FY 2025, based on Savills data.
| Buyer Category | Transactions | Market Share |
|---|---|---|
| Singapore Citizens (SC) | 20,154 | 83.7% |
| Permanent Residents (PR) | 3,614 | 15.0% |
| Foreigners | 297 | 1.2% |
| Entities and Others | est. 25 | ~0.1% |
| Total | ~24,090 | 100% |
Singapore Citizens account for more than five in six residential purchases. Permanent Residents hold a stable 15% share, driven largely by HDB upgraders entering the private market, a trend covered in depth in our Singapore property market Q1 2026 update. Foreigners, by contrast, represent a rounding error at the aggregate level.
Why the 10% Rebound Does Not Signal a Recovery
Adding approximately 27 deals to reach 297 from a base of around 270 sits within normal seasonal variation for any category of buyer. It is not evidence of renewed foreign investor confidence.
Three structural factors keep foreign demand suppressed:
Cost barrier. A 60% ABSD on a SGD 2 million property adds SGD 1.2 million upfront. Total acquisition costs, including Buyer’s Stamp Duty, approach 65% of the purchase price for a foreign buyer. No return profile for a Singapore residential property makes this arithmetic comfortable at typical holding periods of 5 to 10 years.
FTA remission complexity. Buyers from the United States, Iceland, Liechtenstein, Norway, and several other FTA partner countries can apply for ABSD remission at the Citizen rate. However, the process requires legal structuring, is not automatic, and adds cost even when remission is granted. Most eligible buyers consult legal advisers before committing.
Regional competition. Dubai imposes zero purchase duty for foreigners and continues to attract buyers who historically considered Singapore. Our detailed Singapore vs Dubai property investment comparison sets out the yield, liquidity, and entry cost differences between the two markets.
Who Is Still Buying and What They Are Buying
The 297 foreign transactions in FY 2025 were not spread evenly across market segments. High-value new launches in the Core Central Region, where units above SGD 3 million are common, concentrated a disproportionate share of foreign activity. At that price point, a SGD 1.8 million ABSD bill represents a smaller percentage of the total deal value and is more absorbable for ultra-high-net-worth buyers.
Nationalitywise, buyers from Indonesia, Malaysia, China, and India historically account for the largest foreign buyer cohorts in Singapore. The FTA remission categories are dominated by American and European buyers who meet the eligibility criteria.
For investors considering Singapore residential property as a cross-border purchase, the first step is understanding the full legal process. Our guide to buying property in Singapore as a foreigner covers eligibility, financing access, stamp duty computation, and title transfer procedures from start to finish.
Outlook
Nothing in the FY 2025 data or current policy signals a near-term change to ABSD rates for foreigners. The government has repeatedly stated that cooling measures remain in place as long as the market warrants them. With Citizens at 83.7% of all purchases and private prices still rising (the URA price index rose 0.9% quarter on quarter in Q1 2026), the rationale for maintaining the 60% rate remains intact.
Foreign buyers who want Singapore residential exposure in 2026 should model all-in acquisition costs before starting a search, consider FTA remission eligibility, and compare the opportunity against liquid alternatives in the region.
Frequently Asked Questions
Foreigners completed 297 residential transactions in FY 2025, representing a 1.2% share of total market volume. That is up 10% from the FY 2024 record low, but still well below the 6.4% foreign share recorded in Q1 2023 before the April 2023 ABSD hike to 60%.
The Additional Buyer's Stamp Duty (ABSD) rate for foreign residential buyers is 60%, in place since April 2023. On a SGD 2 million property that adds SGD 1.2 million to the upfront cost. Nationals from select FTA partner countries can apply for remission under specific conditions.
No official signals indicate an ABSD reduction for foreigners as of mid-2026. Policymakers introduced the 60% rate deliberately to insulate local housing from speculative offshore capital, and transaction data shows the policy is achieving that objective at the cost of near-zero foreign participation.
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