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MARKETS LIVE BLOG:

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James Dyson 'buys' second luxury home in Singapore

Abigail Fenton
·Writer
James Dyson is reportedly buying this bungalow in Singapore
This is the bungalow near the Singapore Botanical Garden that British tycoon James Dyson is buying, according to media reports. Photo: Roslan Rahman/AFP/Getty Images

British billionaire James Dyson is set to buy a second Singapore home for £26.5m, just weeks after paying a record £43m for the city’s biggest apartment.

The tycoon and inventor of bagless vacuum purchased a three-storey, five-bedroom “super penthouse” at the of top Singapore’s tallest building earlier this month.

Now, Dyson has been given approval to purchase another luxury property, according to Singapore’s Strait Times.

READ MORE: Is a Dyson fan worth it? The Queen certainly thinks so

The Botanica Residence on Cluny Road, which was listed at 45m Singapore dollars, faces the city’s award-winning world heritage site, the 160-year-old Botanical Garden. Boasting 1,402.9 square meters, the bungalow comes with an infinity pool and indoor waterfall.

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A spokesperson for Dyson refused to comment on “the private affairs of [the family].”

READ MORE: Dyson launches trio of new products focused on well-being

However, following his last purchase, a representative said: “Given the decision to locate the headquarters in Singapore and the growing focus of the company’s business in the region, of course James Dyson has bought a property there.”

A view of Guoco Tower (R), where a luxury penthouse at Wallich Residence is located, is seen in Singapore on July 10, 2019. - British billionaire inventor James Dyson has splashed out a reported 54 million USD on the biggest, most expensive penthouse in Singapore, a three-floor residence with a rooftop terrace, private pool and jacuzzi. (Photo by Roslan RAHMAN / AFP) (Photo credit should read ROSLAN RAHMAN/AFP/Getty Images)
Dyson splashed out a reported £43m on the biggest, most expensive penthouse in Singapore, a three-floor residence with a rooftop terrace, private pool, and jacuzzi. Photo: Roslan Rahman/AFP/Getty

Singapore is one of the most expensive places in the world to buy a home, second only to Hong Kong, according to the latest Global Living report by real estate group CBRE.

Foreigners must have made “exceptional economic contributions” to Singapore in order to purchase landed property in the city state, the Strait Times said.

READ MORE: Why did Dyson pick Singapore to build its electric car?

Earlier this year, Dyson confirmed his company’s headquarters will move to Singapore from Britain, in order to be closer to its fastest-growing markets. He also unveiled plans last year to build an electric car plant in Singapore.

However, Dyson has received backlash for his decision to leave the UK, facing accusations of being a “hypocrite” and “jumping ship” despite being a vocal Brexiteer.