Chinese buyers eye S’pore property

Property agents have said buyers from China make up the largest group of foreign investors in Singapore’s private residential property.

The number of buyers from China has doubled in the past three years.

Property agents and developers said Chinese buyers are mostly interested in properties that are in prime districts and have a sea view.

Agents said previously, the traditional groups of foreign buyers were from Indonesia and Malaysia.

This has led to some local property agents to actively launch plans to gain a foothold in the China market.

OrangeTee is the first local property agency which will be setting up an overseas branch in China.

The agency said China’s tight property regulations will see more buyers looking for investment opportunities in foreign properties.

Meanwhile, PropNex is also targeting the China market with a dedicated website for buyers.

The site has information about Singapore’s private property as well as the rules and regulations for foreign property buyers here.

This is the first time PropNex is making a focused effort to market its service to buyers in China.

The service continues even when buyers reach Singapore.

PropNex Realty regional director David Poh said: “We will actually provide a one-stop service, including the booking of hotels, airport transfer, meals, sight seeing, viewing properties, buying properties, opening of accounts and arranging for conveyancing.

“Even if (buyers) need help in renovating the premises and also sending the kids over for schooling, we can actually help them with all this.”

Source : Channel NewsAsia – 9 Sep 2011

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