According to some media reports, fears have been raised that rapid sale of luxury residential flats in areas of Botanique @ Bartley that were popular with expatriates in 2014 may trigger a mass uprooting in Singapore of foreign property buyers.
2014 saw a few higher end apartments in areas such as Orchard Road and Sentosa Cove being sold at what was considered a large loss, regardless of the fact that historically, these have been areas popular to foreign property buyers more than anywhere else in the city-state.

Botanique @ Bartley Investment

Looking at data that was put together by Maybank, the sale of a four bedroom unit in Turquoise at Sentosa was the largest loss making transaction in July of 2014. The unit sold for $3.9 million, quite a loss when compared to its original amount of $7.1 million back in November of 2007. Adding to this is the fact that 8 out the top 10 deals that were made at a loss occurred in the Orchard and Sentosa Cove areas.

Botanique @ Bartley Singapore

Ng Wee Siang, the Head of Maybank’s Research, pointed out that this concern for Botanique @ Bartley regarding a mass exodus of foreign buyers occurred as a result of a drop in the resale values of foreign domains, such as Sentosa and Orchard, more than other domains. He further adds that, regardless of this, it is too soon to predict that an exodus is occurring.
Mr. Siang has said that, whilst the amount of fire sales for condos has increased, the reasons for these sales for Botanique @ Bartley each have their own distinctive cause and we cannot just jump to the conclusion that foreigners are better off leaving the market.
Also, residential properties that are preferred by expatriates have had valuations that have remained resilient when looking at any analysis of foreign owned developments in the top 30, such as City Square Residences, Costa Del Sol and Rivergate and Botanique @ Bartley. Ng feels that this alone supports their perspective that luxury units that have sold at a large loss is something isolated and sporadic for certain projects.

Upper Paya Lebar UOL Condo

Donald Han, the Managing Director of Chestertons in Singapore, shares this view as well and has stated that there will always be situations where a buyer needs to cash out, however they have witnessed excessive cases of sellers of this kind lately.
Ng further adds that, while the fall in resale values may have foreigners concerned, he doesn’t feel there will be a panic over this. Looking at Singapore over the past 10 years, you can see that it is growing in wealth and is becoming a hub for private banking. This indicates that more rich people are living there than ever before for Botanique @ Bartley.