Johor, whose Iskandar region has been a hot favourite with Singaporean investors, plans to impose a tax of 4 to 5 per cent on foreigners who buy property in the state to curb speculative fervour, but analysts say demand from Singapore has already been slowing in recent months amid an increasingly uncertain external environment. Mr Ku Swee Yong, Chief Executive Officer of Singapore-based consultancy...
Overseas Property
Real estate consultancy Jones Lang LaSalle says it is seeing an increase in the number of Singapore investors buying properties in London. And demand out of Singapore has already eclipsed that of Hong Kong last year. In 2012, buyers from overseas purchased 54 percent of all newly built apartments sold in London, with Singaporeans making up the largest percentage of Asian buyers. The Singapore...
Singaporeans make up 74 per cent of foreign home buyers in the Nusajaya township in Johor’s Iskandar region, according to Malaysian property developer UEM Sunrise. UEM Sunrise is the master developer of the Nusajaya township. Among its flagship developments in Nusajaya are East Ledang, a garden-themed luxury residential development, and the Teega and Imperia on prime waterfront land in Puteri...
The Government’s new loan curbs and debt-servicing framework have hit hard at home and are pushing more Singaporeans to overseas properties to seek better returns. Like many Asian investors who have also been hit by property cooling measures, more Singaporeans are looking out for the next sweet spot where prices are lower and investment yields higher than back home. Traditionally, Singaporeans...
The real estate arm of the huge Philippine conglomerate Ayala Corp has landed in Singapore with its first Asian offshore office, aiming to tap the growing interest here in overseas property investments. Interest in Philippine properties among Singaporean investors is a fairly recent phenomenon, President and Chief Executive of Ayala Land Tony Aquino told TODAY. The country’s economic growth and...
Fears have emerged that a bubble has formed in the London property market after prices rose to levels not seen since before the global financial crisis, but that is not deterring Singaporean investors who are attracted by the city’s global appeal and a favourable exchange rate. Official data released last week showed that London house prices rose by 8.1 per cent in a year to record highs, pushing the...
After an elaborate campaign to woo buyers featuring fun-fair rides, fireworks displays and free yacht trips at the showflat site, Country Garden Danga Bay, a condominium development in Johor Baru, has sold over 5,000 of the 7,000 units on offer, with 30 per cent of them snapped up by Singaporeans. The project by Chinese developer Country Garden is located in Iskandar Malaysia, some five minutes from the...
The Association of Small and Medium Enterprises (ASME) has scrapped a plan to build an industrial park for SMEs in Malaysia's Iskandar region. However, ASME said it was looking into other ways to help SMEs cope with rising costs in Singapore. Over the past year, many business groups in Singapore have organised trips to Iskandar to explore expansion and relocation opportunities. In December 2012, the...
Thousands took to the streets earlier in Hong Kong this month to protest against the government's recent property tax hikes. Made up mainly of property agents and disgruntled home-buyers, they are angry at the government for doubling the stamp duty on property transactions since February to around 5.5 per cent. Protest organiser Raymond Ho argued the cooling measures are hitting the innocent. Ho...
Singaporeans keen to look for a property in Malaysia may no longer need to travel across the Causeway to make a booking. More Malaysian developers are setting up their sales office and showrooms in Singapore. Following the opening of its sales office in Shanghai last year, Mah Sing Group has opened its second overseas gallery in Singapore to cater to increasing demand from investors here. Mah Sing...