Tenants of Private Property Leases by Property Status10 May 2023
Parliamentary Question by Mr Leong Mun Wai:
To ask the Deputy Prime Minister and Minister for Finance for each year since 2010, what is the number and percentage of private property leases where the tenants are (i) Singapore citizens (ii) Singapore permanent residents and (iii) non-residents respectively.
Parliamentary Reply by Deputy Prime Minister, and Minister for Finance Mr Lawrence Wong:
We are unable to provide such a long time series of data. The breakdown of the private residential property leases by the profile of tenants from 2018 to 3Q 2022 is at Table 1.
In 2018 and 2019, the proportion of Singapore Citizen tenants was 15%. This increased to 19% in 2021 primarily due to a surge in demand from Singaporeans seeking temporary accommodation while awaiting the completion of their residential units affected by COVID-19 construction delays. On the other hand, foreigners’ demand dropped due to outflow of foreigners. In 2022, with the easing of border restrictions, the tenant profile for private residential properties is now more similar to pre-COVID trends.