General decline in overall volume
The number of properties bought by Malaysians in Singapore has been trending downwards since 2012, mirroring the decline in the overall property market. According to URA statistics, total number of properties purchased by Malaysians had increased marginally from 1,440 in 2011 to 1,456 in 2012. However, from 2012, total number of properties purchased had fallen 60% from 1,456 caveats in 2012 to 581 caveats in 2015. These figures are based on caveats lodged between January and August for the corresponding years.
Chart 1
Focus on mass market projects
In general, majority of Malaysians are buying properties in Singapore which are priced between $500,000 and $1 million (RM1.5 million to RM 3 million based on today’s exchange rate). The $1 million to $1.5 million price range is the next preferred option.
Chart 2
Condominiums and apartments are preferred
As Singapore imposes foreign ownership restriction on landed residential properties, 99% of the properties purchased by Malaysians are in the non-landed segment, primarily in condominium and apartment.
Chart 3
Central region is still the #1 hot-spot
In the non-landed homes segment, Malaysians prefer to own homes in central region (41%) followed by the east and north east regions, according to data from URA. Generally, residential properties in the central are more appealing in terms of its accessibility to the business districts and nearby amenities.
Chart 4
On the other hand, Malaysians prefer to own landed properties in north east region (32%) followed by central and east regions. In most cases, a foreigner is required to seek approval from the Singapore Land Authority before purchasing a landed property in Singapore.
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