Transactions for both new and resale properties in Singapore went up a staggering +130% in 2009, according to the Urban Redevelopment Authority and DTZ Research.

There was an increase of +144% in private property transactions between Singaporeans as opposed to foreign real estate investors with 23,516 transactions in 2009 compared to just 9,649 in 2008. The number of purchases by foreigners, including expats, increased by +114% in 2009 to 6,798 compared to 3,176 in 2008.

Singaporeans accounted for +76% of all purchases with foreigners and expats making up about 22% with the rest going to companies and others buyers.

Purchasers from overseas were mainly from Malaysia, Indonesia, China and India, with the number of Chinese and Indian nationals buying property showing a steep rise. Of the total transactions by foreigners in 1999 there was just 6.6% but in 2009 that had increased to 27.3%.

Experts said the rising number of purchases by foreigners could also be due to home prices being more attractive in Singapore than in cities like Hong Kong and Tokyo.