Photographer: Darren Soh/Bloomberg

Rich Indonesians Snap Up Singapore Homes as Taxman Beckons

Updated on
  • Indonesians beat all foreign buyers of high-end units in 2016
  • Property agents say buyers are worried about Jakarta tax plan

Never mind that Singapore is experiencing one of the worst property slumps in its history, demand for luxury housing is suddenly coming from an unexpected group: wealthy Indonesians.

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