Locals monopolise 69% of luxury homes as foreign buyers remain 'marginal'

Non-resident and corporate buyers have been pushed to the sidelines.

Singaporeans continued to dominate the luxury property market in the first quarter of 2026, accounting for 69.3%—equivalent to 133 units—of all transactions above $5m, according to an OrangeTee report.

The quarter saw a slight decline from the 136 units—or 73.1%—of transacted luxury homes in the fourth quarter of 2025.

Singapore permanent residents, foreigners or non-permanent residents, and companies accounted for the remainder of transactions across the quarters.

This demand was largely driven by the launch of River Modern, which sold 90% of its units on launch day.

Despite macroeconomic uncertainties and global conflicts, the Core Central Region market remains a preferred “safe haven” for wealthy local and permanent resident investors.

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