Tag Archives: Foreign Investors

Foreign interest up for private property

Foreign demand for private homes in Singapore increased 40 percent with 523 units purchased during the first quarter of 2013 compared to the 373 sold during the same period last year, although the figures are still below levels seen before the introduction of the additional buyer’s stamp duty (ABSD) in December 2011, The Straits Times reported.

Analysts also noted that there has been a shift in interest from luxury homes to mass market condominiums.

Quarter-on-quarter, foreigners (excluding PRs) took up 10.7 percent of the 4,884 private homes sold in Q1 this year, compared to 7.4 percent in the previous quarter.

This is also an increase from the first, second and third quarters of 2012 when foreign buyers purchased 5.7, 7.1 and 7.2 percent of new private homes sold respectively, according to the Urban Redevelopment Authority (URA).

Prime District 10 remained the most sought-after area to purchase property with District 19 following close behind. Projects popular among house hunters included d’Leedon in District 10 and La Fiesta in Sengkang.

The Chinese and Indonesians were the largest foreign buyer groups in Q1, followed by the Malaysians. Moreover, China buyers appear to be returning as a force in the market, accounting for 42.6 percent of the 108 foreign buyers in March.

Source : PropertyGuru – 23 Apr 2013


More foreign investors snapping up homes here

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