Singapore’s Channel News is forecasting a pick up in art buying later in 2012 (though how that prediction was generated remains murky.) That said, there’s some interesting information about who buys art in Singapore:

Opera Gallery Asia Pacific director Stephane Le Pelletier said the number of Singaporean art buyers in 2011 increased 10 per cent, total sales rose 30 per cent and more than 40 per cent of buyers were Singaporean, with the rest comprising foreigners on business trips and vacation.

“They are mostly business persons, and we have a lot of institutions, developers, as you can see in Singapore, there are more and more outdoor sculptures, outdoor artwork installation and I think these people are definitely helping a lot.”

Art Spending Forecast to Increase (Channel News Asia)