1 USD = 1.32 Singapore Dollar
$1M USD gets you around 350 ft2 of luxury real estate.
Price per ft2 in city center: 2,272.29 S$ ($1,721.43 USD)
Price per ft2 outside city center: 1,183.13 S$ ($896.31 USD)
The market has been down over the last several years in Singapore. However, over the last year, developers have made some massive land deals. Developers have been buying up government land as well as established buildings to redevelop. The top 5 deals averaged a 22% premium. These projects are expected to help boast the housing market, with most predicting increases of 3% to a soaring 17%.
Note: Since July 19, 2005, under the Residential Property Act, foreigners can now buy apartments in buildings of less than six stories without prior government approval. However, foreigners still cannot purchase vacant land and landed properties without permission from the Singapore Land Authority. Aside from these restrictions, foreigners can buy condominiums freely. There are few foreign exchange restrictions, and non-residents can now borrow up to 80% of the property cost locally, in Singapore Dollars.