FACT SHEET …

-Singapore, 2^nd largest buyer of our Real Estate; only trails the United States

-overshadowed China with investments from large developers, and sovereign wealth fund, GIC

-2 years to July 2020 Singaporeans bought $19.3Bn: Latest FIRB data  –

Foreign Investment Review Board Annual Report 2019-20 (firb.gov.au)

-Singaporeans spent $6.1Bn more than China over the 2 years

.with an economy 44 times smaller

George Chmiel, Chair of Juwai IQI on Singaporean Investment:

-doubled in last 3 years; led by institutional investors funding large-scale projects

-and individual *home buyers also active in Australian home markets*

-Singaporean developers are selling to Singaporean buyers

.e.g. Elements at Carousel, by Jean Yip Holdings, Perth with 60% Singapore buyers

-Singapore short flying distance from Australian capital cities

-property investment likely to rise further as travel reopens

-the Morrison Govt late 2020 quietly prioritised visas for UHNW for further home buying

-over the last 10 years China is the largest investor; spent some $126Bn since 2010

.Singapore spent around 44 cents on the dollar over the same period

SOURCE: Business Insider: ‘ Singapore has bought almost $20 billion worth of Australian real estate in the last two years, eclipsing China’