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
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