General | Lush Dream Home

Category Archives: General

China buyers prefer properties under $1m

Posted on 5 Nov 2009 | Comments Off

HOME buyers from China prefer properties under $1 million and tend to favour apartments near MRT stations as they generally do not own cars here.

Many are permanent residents and work here, possibly in areas such as Jurong, Bedok and Kallang.

That is the typical profile of a buyer from China, say agents The Straits Times spoke to.

A total of 707 buyers from China, of whom 432 were PRs, bought homes in the first nine months of the year.

As with buyers from Malaysia and India, PRs from China far outnumber those who are non-PRs, data from Savills Singapore showed.

‘Lately, for mass market products, we are seeing more Chinese buyers than Indian buyers,’ said PropNex chief executive Mohamed Ismail Gafoor.

Agents said a large group of China buyers are Singapore PRs who already have families or are about to settle down here and are buying properties for their own use.

A small group of investors are young couples in their 30s to 40s who run their own businesses back home, said mortgage consultant Ally Yang of her clients. Continue reading →

Comments Off on China buyers prefer properties under $1m

Posted in General, Property Market / Real Estate

Tagged China Buyers, Foreign Buyers, Singapore Permanent Residents, Singapore Property, Singapore Property Market

Foreigners back in private home market

Posted on 5 Nov 2009 | Comments Off

Foreign buyers are streaming back into the private homes market in growing numbers, especially those from China.

They account for 22.7% of such sales in Q3, above the 19.7% average

RELATED LINKS FOREIGN BUYERS ON THE RISE

FOREIGN buyers are streaming back into the private homes market in growing numbers, especially those from China.

New research from property consultancy Savills Singapore shows foreigners accounted for 22.7 per cent of private home sales in the third quarter – above the 19.7 per cent average since the start of 2000.

Buyers from China have dislodged those from India for the No. 3 spot in the rankings this year with a contribution of nearly 15 per cent of total foreign purchases. This puts China just behind Indonesia in the second spot and Malaysia at No. 1

In the past two years, India had been in third spot, but it has slipped to fourth.

Last year, buyers from China had moved up to the No. 4 spot, dislodging buyers from Britain.

Buyers from Myanmar featured more strongly, coming in at No. 8. They did not make it to the top 10 last year, and were 10th in 2007.

In the July to September period, foreign buyers – including permanent residents – lodged 2,448 private home caveats, a key step to buying a home.

This is up from 1,807 caveats in the second quarter and just 498 in the first, according to data compiled by Savills. Continue reading →