Chinese again top foreign home buyers
China nationals have emerged as the top non-Singaporean buyers of private residential properties here for the second quarter running.
They bought a record 640 homes in the three months ended Jun 30, up from the 527 units they purchased in Q1.These buyers accounted for just over a quarter of all purchases by foreigners and PRs – 26% unchanged from Q1.The report's analysis was based on 8,458 caveats lodged for private residential transactions in Q2 that had been registered as of Aug 5.
With the exception of 1 landed home in Sentosa Cove, all homes bought by foreigners were non-landed properties. High-end homes made up the bulk of these transactions.
S’pore has always attracted foreigners because of its political stability and strong long-term growth fundamentals. A well-planned infrastructure and strong, transparent legal framework also make it a more attractive city as compared with other Asian countries.
The increased presence of S’porean developers in China has made China buyers more confident in buying homes in S’pore. Chinese buyers are likely to remain high on the list here because they are always on the lookout for places they can safely invest in during uncertain times.
Malaysians – the second-biggest group bought 496 homes, 66 more units in Q2 as compared with the 430 homes recorded earlier this year. Private residential purchases by Indonesians also moved up from 320 to 408 units in Q2.
Despite making up a mere 1.6% of non-Singaporean buyers, Vietnamese more than doubled their property deals this quarter, from 17 to 40 units. Singaporeans still easily dominate buying, making up 68% of sales. The other 2% of private home sales were made by companies.
19 Aug 2011
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