Wealthy Singaporeans still buying luxury homes amid downturn

No surprise as they see a weak economy as an opportune time to grab a good deal: Experts

Mr David Yong, chief executive of Evergreen Assets Management and managing partner of YSL Legal, at his family home in Goodman Road. The bachelor has been shopping for his next home at Sentosa Cove since the start of the year, armed with a budget of
Multimillion-dollar bungalows at Cove Grove in Sentosa Cove. PHOTO: MERCURIO DESIGN LAB
Multimillion-dollar bungalows at Cove Grove in Sentosa Cove. Singapore's private housing market slumped last month and in the first half of this month after strict measures to stem the coronavirus outbreak curtailed non-essential activities. There we
Mr David Yong, chief executive of Evergreen Assets Management and managing partner of YSL Legal, at his family home in Goodman Road. The bachelor has been shopping for his next home at Sentosa Cove since the start of the year, armed with a budget of $10 million to $15 million. PHOTO: COURTESY OF DAVID YONG
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With Covid-19 putting paid to any travel plans in the near future, Mr David Yong plans to sample the resort life at Sentosa Cove instead.

The 33-year-old bachelor has been shopping for his next home at the upscale residential enclave on Sentosa island since the beginning of the year. His budget: $10 million to $15 million.

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A version of this article appeared in the print edition of The Straits Times on May 29, 2020, with the headline Wealthy Singaporeans still buying luxury homes amid downturn. Subscribe