Kevin Tan
08-10-15, 09:41
http://www.theedgeproperty.com.sg/content/lessons-malaysian-australian-and-mainland-chinese-homebuyers
Lessons from Malaysian, Australian and Mainland Chinese homebuyers
The number of foreign purchasers buying residential properties in Singapore may be dismal with the continued imposition of hefty additional buyer’s stamp duty on foreigners. However, some foreign nationals are making a comeback, drawn by the resiliency of the Singapore dollar against their home currencies.
More Malaysian, Australian and Chinese nationals bought Singapore properties
Drawn by the strength of the Sing dollar, resale non-landed home purchases by the three nationalities rose 14% collectively year-on-year between January and September this year.
The increase coincided with the recent deceleration of their home currencies against the Singapore dollar and the anticipation of further depreciation. Between January to date, the Malaysian ringgit have lost around 14% of its value against the Sing dollar while the Australian dollar have weakened around 6%. Meanwhile, the renminbi started its slide against the Sing dollar in August.
The missing piece of the puzzle is Indonesian purchasers. Despite the rupiah’s continuing weakness, Indonesians were not compelled to buy Singapore properties. It seems that the capital influx from Indonesia into Singapore had taken place earlier. The rupiah started its deceleration against the Singapore dollar in 2012 and in anticipation, Indonesians had snapped up Singapore properties in 2011 and 2012.
http://www.theedgeproperty.com.sg/content/lessons-malaysian-australian-and-mainland-chinese-homebuyers
Lessons from Malaysian, Australian and Mainland Chinese homebuyers
The number of foreign purchasers buying residential properties in Singapore may be dismal with the continued imposition of hefty additional buyer’s stamp duty on foreigners. However, some foreign nationals are making a comeback, drawn by the resiliency of the Singapore dollar against their home currencies.
More Malaysian, Australian and Chinese nationals bought Singapore properties
Drawn by the strength of the Sing dollar, resale non-landed home purchases by the three nationalities rose 14% collectively year-on-year between January and September this year.
The increase coincided with the recent deceleration of their home currencies against the Singapore dollar and the anticipation of further depreciation. Between January to date, the Malaysian ringgit have lost around 14% of its value against the Sing dollar while the Australian dollar have weakened around 6%. Meanwhile, the renminbi started its slide against the Sing dollar in August.
The missing piece of the puzzle is Indonesian purchasers. Despite the rupiah’s continuing weakness, Indonesians were not compelled to buy Singapore properties. It seems that the capital influx from Indonesia into Singapore had taken place earlier. The rupiah started its deceleration against the Singapore dollar in 2012 and in anticipation, Indonesians had snapped up Singapore properties in 2011 and 2012.
http://www.theedgeproperty.com.sg/content/lessons-malaysian-australian-and-mainland-chinese-homebuyers