94
In Singapore, where the top tier of the housing hierarchy—good class bungalows—is only open to local buyers, the trend has been propelled forward. “Several investors bought with the intention to rebuild into mansions of over 10,000 sq ft, within the permissible planning guidelines—which dictate that the home cannot occupy more than 35 to 40 per cent of the plot,” says Lewis Cha, executive director at List Sotheby’s International Realty Singapore.
Adding to that are two hikes in Singapore’s Additional Buyer’s Stamp Duty…