Malaysians reclaimed top spot among foreigners buying Singapore properties despite the tough cooling measures introduced in December last year. They have overtaken the Chinese buyers. A report by DTZ Research revealed that Malaysians had a high of 362 transactions, marking a 28 percent share among foreign buyers due to the larger number of Malaysian PRs in the country. In the same report, it is revealed...
Foreign Buyers
Fewer non-PR foreigners picked up private homes in January, as opposed to December when it had spiked, according to preliminary figures. A DTZ Research caveat analysis revealed that foreign buyers’ share grew from 16 percent in November to 23 percent in December. However, January’s figures fell to merely three percent. The caveat pool for January though is much smaller with only 131 so far, but more...
Bank of America (BofA) Merill Lynch cited in its recent report that 20 percent of the total number of private home transactions recorded last year were accounted for by foreign buyers, while PRs and Singaporeans made up a respective 13 percent and 67 percent share. “This is a big jump from 10 years ago, when foreigners accounted for only six percent. Foreigners are entering the mass market, not just the...
Citizens of five countries, including the United States and Switzerland, could avoid paying the additional stamp duty when they purchase a property in Singapore due to tax treaties with the city-state, the Straits Times reported on Friday. Similar treatment will also be accorded to citizens of Liechtenstein, Norway and Iceland, who will be treated the same as Singapore citizens, the paper quoted the tax...
The number of foreigners owning private property in Singapore has grown to 16 per cent in the first half of this year, compared to 12 per cent for the whole of last year. National Development Minister Khaw Boon Wan revealed the numbers in Parliament on Thursday, in response to concerns from several MPs about the impact of property ownership by foreigners. Despite the growing demand from foreigners, Mr...
The issue of foreign ownership of private residential properties has been a fairly hot topic of debate for newspaper readers recently. Sensational news reports on foreigners buying private housing properties in Singapore never fail to draw many online comments, and some of the more unbiased and thoughtful comments have made it into print in the letters-to-the-editors section. While some have called for...
Foreigners are acquiring posh apartments in Singapore and contributing to the health of the luxury market, which had been weak since early 2007, according to an article in The Straits Times. Foreigners, including permanent residents (PRs), acquired 162 non-landed units with an average price of over S$5 million in the first half of 2011. According to a Cushman and Wakefield analysis of URA caveats lodged,...
Chinese nationals have again emerged as the top non-Singaporean buyers of private homes in the second quarter, acquiring 640 homes in Q2, up 26 percent from 527 units in Q1 2011. According to a new report from DTZ, the proportion of acquisitions made by non-Singaporeans in the second quarter was similar to the 16 percent recorded in the previous quarter. “In absolute terms, foreign purchases were 1,327...
A recent letter to the press has again brought to the surface the concerns of a group of house-hunting citizens whose needs have not gained much attention since the General Election. The writer lamented that the changes announced by Prime Minister Lee Hsien Loong at the National Day Rally speech on Sunday did not address the housing aspirations of HDB upgraders such as himself. He wrote that in 2008, the...
Foreign buyers accounted for 16 per cent of private home purchases in Singapore in the first quarter of this year, setting a new record high, according to real estate consultant DTZ Research. The previous high of 15 per cent was recorded in the fourth quarter of 2007. DTZ defines foreign buyers as non-Singaporeans and non-permanent residents. Singaporeans' share of private property purchases fell to 67...