Buyers from the region are returning now that prices have corrected
THE number of foreign buyers in Singapore’s property market shot up in the second quarter, but they are not quite the high-spending ones seen during the 2007 boom, according to property experts.
The globe-trotting high-spenders flocked to Singapore in droves then, helping to lift high-end prices even higher and setting record highs. It was not just individuals and funds – foreign developers also wanted a slice of the action.
A recent study by consultancy Jones Lang LaSalle found that foreign buyers – including permanent residents – lodged 1,662 caveats in the second quarter of this year, up from 489 caveats in the first quarter.
It was the highest quarterly sales figure since the third quarter of 2007 when 2,444 caveats were lodged. Continue reading
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