Foreign buyers back to Singapore private home market

November 5, 2009
Singapore Democrats

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Xinhua News

Foreign home buyers are returning to the Singapore private home markets, local newspaper Straits Times reported on Thursday.

New research from property consultancy Savills Singapore shows foreign buyers accounted for 22.7 percent of private home sales in the third quarter, above the average of 19.7 percent since the start of 2000.

Buyers from China have dislodged those from India for the third sport in the rankings this year with a contribution of nearly 15 percent of total foreign purchases. Malaysia takes the first spot, while Indonesia is in the second.

In the July to September period, foreign buyers lodged 2,448 private home caveats, a key step to buying a home.

This is up from 1,807 caveats in the second quarter and just 498 in the first, according to data from Savills.

Another property consultancy DTZ said its preliminary data for the third quarter showed that foreigners accounted for about 25 percent of total sales, compared to 33 percent during the boom of 2007.

http://news.xinhuanet.com/english/2009-11/05/content_12393071.htm