Wealthy foreigners gain less from buying Singapore property through family offices, experts say

WHILE foreign interest in Singapore properties has been on the rise in recent years, wealthy foreigners are likely buying assets under their individual names – instead of through their family offices – to circumvent financial disincentives.

Experts noted that this has likely resulted in the small number of property transactions attributable to family offices in the past few years.

According to National Development Minister Desmond Lee, there have been only four commercial property transactions attributable to family offices over the past six years.