Foreigners are returning but aim low

[phantom_opera]

Analysts said the additional buyer's stamp duty (ABSD), which imposed a 10 per cent levy - now 15 per cent - on purchases by foreign buyers, has prompted more of them to aim downmarket.

Foreign buyers, not including PRs, bought 10.7 per cent of the 4,884 private homes sold in the first quarter of this year.

...

Popular choices

Among the most popular projects among foreign buyers was D'Leedon, in prime District 10. Projects in District 19 favoured by them include La Fiesta in Sengkang.

[Lovelle]

this means direct competition with local middle class.

Not a good news.

[sunny88]

Better if they buy CCR which is languishing. More stamp duty revenue for singapore!

[delirious_jeff]

This is reason why I don't favour sub-sale purchases.

[teddybear]

May be that is the purpose? To bring up downmarket (OCR) prices so that they can sell more GLS land in these areas at good prices! (They have no more free land for residential use to sell in CCR...)


Analysts said the additional buyer's stamp duty (ABSD), which imposed a 10 per cent levy - now 15 per cent - on purchases by foreign buyers, has prompted more of them to aim downmarket.

Foreign buyers, not including PRs, bought 10.7 per cent of the 4,884 private homes sold in the first quarter of this year.

...

Popular choices

Among the most popular projects among foreign buyers was D'Leedon, in prime District 10. Projects in District 19 favoured by them include La Fiesta in Sengkang.

[kane]

if the price is right, they will still aim 9,10,11 lah. just like how they zero in on D'leedon as mentioned by them.