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Thread: Rising tide of foreigners snapping up S'pore property

  1. #1
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    Default Rising tide of foreigners snapping up S'pore property

    Published March 27, 2008

    Rising tide of foreigners snapping up S'pore property

    S'poreans buying more private homes but their share is still falling as foreigners outpace them

    By KALPANA RASHIWALA


    (SINGAPORE) Take a walk down some of the poshest parts of Singapore and your eyes will confirm precisely what the numbers say. With its immigration-friendly policies and its growing attraction for wealthy individuals across the world, Singapore is seeing more foreigners than ever before parking their funds in private property here - especially in the Core Central Region (CCR).

    Singaporeans, too, are buying more private property but, in relative terms, their share is dwindling because of the foreign influx.

    Result: From a 77 per cent share in the purchases of private apartments and condo units here in 2000, Singaporeans have seen their slice drop to 63 per cent in 2007, according to a study by Jones Lang LaSalle. This is their lowest share since 1995, which is as far back as the caveats captured by Urban Redevelopment Authority's Realis system go.

    Conversely, foreigners (including permanent residents) accounted for 29 per cent of non-landed private homes purchased here last year - nearly double their 16 per cent share seven years earlier and also their highest ever.

    Companies account for the remaining purchases.

    Market watchers expect the trend to continue in the mid- to long-term. 'We need the external talent to support Singapore's economic growth in the long term, as the citizen population has not been replacing itself sufficiently,' says JLL's head of research (SE Asia) Chua Yang Liang.

    JLL's study shows the trend of declining ratio of Singaporeans among non-landed private home buyers was most apparent in CCR - which has been a hotbed of purchases by foreign investors.

    Here, Singaporeans accounted for 47 per cent or less than half the caveats lodged for the purchase of non-landed private homes last year, while foreigners (including PRs) had a 41 per cent share, nearly double their 21 per cent share back in 2000, according to Jones Lang LaSalle's analysis.

    Foreigners who are not PRs have shot up the buying charts. They picked up 26 per cent of non-landed homes that changed hands in CCR last year, compared to their 11 per cent share seven years earlier. CCR includes the prime districts 9,10 and 11, Downtown Core location and Sentosa Cove.

    DTZ executive director Ong Choon Fah likens the luxury residential sector in CCR to Central London, with a high proportion of foreign ownership. 'We'll have to accept that Singapore will be open to international competition, with funds and high net-worth individuals coming in. People who cannot afford to live in these areas will have to find alternative locations,' Mrs Ong says.

    JLL's study showed that even in the Outside Central Region (which covers suburban locations and is a realm dominated by typical Singaporean home upgraders), the share of foreign buyers (including PRs) went up to 22 per cent last year from 13 per cent in 2000.

    In the Rest of Central Region, which covers the mid-tier market, foreigners' (including PRs') share increased from 18 per cent in 2000 to 29 per cent in 2007. The percentage of non-landed homes bought by Singaporeans in the area fell from 74 per cent in 2000 to 61 per cent last year.

    Jones Lang LaSalle analysis covered caveats lodged for the purchase of non-landed private homes in both primary and secondary markets (including subsales).

    Overall, the absolute number of such properties purchased by all categories of buyers has increased over seven years. The total caveats lodged for purchases of apartments/condos more than tripled, from 9,347 in 2000 to 30,576 last year. Even though Singaporeans bought more than they did in 2000, their share fell as purchases by foreigners saw higher percentage gains.

    Islandwide, the number of private apartments/con- dos bought by Singaporeans jumped 165 per cent from 7,225 units in 2000 to 19,154 units last year.

    Over the same period, the number of private apartments/condos bought by foreigners (counting PRs as well) leapt 496 per cent from 1,491 units in 2000 to 8,884 units in 2007.

    The increase was due partly to the influx of foreign talent into Singapore. 'As birth rate of the citizen population is below replacement level, in-migration has been necessary to sustain economic growth. As at end-2007, Singapore's total population stood at 4.588 million, with well over a million foreigners. This is a 33 per cent increase from the 750,000 foreigners as at-end 2000,' JLL says.


    Last edited by mr funny; 27-03-08 at 10:44.

  2. #2
    mr funny is offline Any complaints please PM me
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    Default Re: Rising tide of foreigners snapping up S'pore property

    Published March 27, 2008

    Foreigner factor in property here to stay

    Rising rents, influx of foreign talent set to spur demand for homes, say analysts

    By KALPANA RASHIWALA


    THE attraction to foreigners of buying a non-landed home in Singapore isn't expected to wane in the mid- to longer-term, say property experts.

    Jones Lang LaSalle's head of research (SE Asia) Chua Yang Liang expects the ratio of foreign buying to be maintained in the short term - because of sub-prime uncertainty - but to increase moderately in the medium to longer term.

    'A key factor is that residential rents have moved up quite a fair bit, and the low interest rate environment will encourage more foreigners and PRs (living here) to consider taking up home ownership,' he added. This, of course, is assuming that they can get loans.

    Another factor that will contribute to the trend is the government's policy of encouraging more immigration into Singapore to power the Republic's economic growth, say market watchers.

    Knight Frank executive director (residential) Peter Ow notes that non-PR foreign investors were last year a major buying force especially in the Core Central Region (CCR), drawn by the story of Singapore's transformation into a global city and its ambitions to be a hub in many fields - including financial, healthcare, education, R&D.

    'The implication is that Singapore's property prices, especially in CCR, will be more affected by events in the rest of the world such as the sub-prime crisis which is now unfolding.

    'But that's not necessarily a bad thing. If the situation worsens overseas and international investors view Singapore as a safe haven, that could draw more foreign funds to the local property market, especially in the CCR,' Mr Ow reckons.

    'Increasingly, we may see more foreigners who will be able to afford properties in CCR. That also explains why some high-end residential developers are feeling pretty confident that prices will not slide in the luxury tier, as demand is being supported by foreign investors looking for a place to park their monies,' Mr Ow said.

    A 12 percentage-point slide in Singaporean buyers' share of private apartments/condo purchases in the Outside Central Region - which covers mass-market suburban locations, the staple of Singaporean upgraders - between 2000 and 2007 revealed in JLL's study may have implications on that perpetual Singaporean dream - of upgrading to a private condo.

    'The authorities may have to ramp up supply of the high-end of public housing, like the Design, Build and Sell Scheme (DBSS), and executive condos (ECs) to cater to local home buyers,' Mr Ow suggests.

    ECs are condominium housing that have resale and other restrictions in the first 10 years, while DBSS are public housing flats designed, built and sold by private sector developers.

    DTZ executive director Ong Choon Fah also says these housing types will help meet the aspirations of Singaporeans who feel priced out of private housing. 'There's a right product for everybody. We must understand that in a global economy, there is open competition. We must embrace meritocracy. Anybody can buy the product if they can pay. To survive, Singapore must keep attracting the best.'


  3. #3
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    The government should increase the supply of the high-end HDB flats, like the DBSS flats, and also ECs to cater to locals.

  4. #4
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    The government should increase the supply of the high-end HDB flats, like the DBSS flats, and also ECs to cater to locals.
    I thought they are already doing that?

  5. #5
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    I thought they are already doing that?
    Not enough la.

  6. #6
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Buy buy buy! Let them buy. We are open for business.

  7. #7
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    Buy buy buy! Let them buy. We are open for business.
    wait they buy until you have no house to stay

  8. #8
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    wait they buy until you have no house to stay
    They will have to buy from me what.

  9. #9
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    They will have to buy from me what.
    That is provided you have bought.

  10. #10
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    That is provided you have bought.
    That's why must buy.

  11. #11
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    That's why must buy.
    Yes, buy buy buy!
    And huat huat huat!

  12. #12
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    Yes, buy buy buy!
    And huat huat huat!
    If not they huat.

  13. #13
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    Buy buy buy! Let them buy. We are open for business.
    Prices went up by 4.2% in the first 10 weeks of 2008. Up up up!

  14. #14
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    Prices went up by 4.2% in the first 10 weeks of 2008. Up up up!
    Will be slightly higher than 4.2% for Q1.

  15. #15
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    Will be slightly higher than 4.2% for Q1.
    Then the sour grapes will be more pissed.

  16. #16
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    Then the sour grapes will be more pissed.
    Pissed Pissed Pissed
    Those stuck are pissed
    Thought market would go up
    and they could flip
    But ended up getting the whip.
    Ohhh pissed pissed pissed
    Speculators are pissed

  17. #17
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    Pissed Pissed Pissed
    Those stuck are pissed
    Thought market would go up
    and they could flip
    But ended up getting the whip.
    Ohhh pissed pissed pissed
    Speculators are pissed
    Exactly.

    Hoping price would go up 42%.
    But too bad! Only 4.2%!

  18. #18
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    Then the sour grapes will be more pissed.
    2 sour grapes are here.

  19. #19
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    2 sour grapes are here.
    ... and are confused too.

  20. #20
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    ... and are confused too.
    Confused with '+' and '-'.

  21. #21
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    Confused with '+' and '-'.
    What's so difficult? It's a simple +4.2%.

  22. #22
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by mr funny
    Published March 27, 2008

    Rising tide of foreigners snapping up S'pore property

    S'poreans buying more private homes but their share is still falling as foreigners outpace them

    By KALPANA RASHIWALA


    (SINGAPORE) Take a walk down some of the poshest parts of Singapore and your eyes will confirm precisely what the numbers say. With its immigration-friendly policies and its growing attraction for wealthy individuals across the world, Singapore is seeing more foreigners than ever before parking their funds in private property here - especially in the Core Central Region (CCR).

    Singaporeans, too, are buying more private property but, in relative terms, their share is dwindling because of the foreign influx.

    Result: From a 77 per cent share in the purchases of private apartments and condo units here in 2000, Singaporeans have seen their slice drop to 63 per cent in 2007, according to a study by Jones Lang LaSalle. This is their lowest share since 1995, which is as far back as the caveats captured by Urban Redevelopment Authority's Realis system go.

    Conversely, foreigners (including permanent residents) accounted for 29 per cent of non-landed private homes purchased here last year - nearly double their 16 per cent share seven years earlier and also their highest ever.

    Companies account for the remaining purchases.

    Market watchers expect the trend to continue in the mid- to long-term. 'We need the external talent to support Singapore's economic growth in the long term, as the citizen population has not been replacing itself sufficiently,' says JLL's head of research (SE Asia) Chua Yang Liang.

    JLL's study shows the trend of declining ratio of Singaporeans among non-landed private home buyers was most apparent in CCR - which has been a hotbed of purchases by foreign investors.

    Here, Singaporeans accounted for 47 per cent or less than half the caveats lodged for the purchase of non-landed private homes last year, while foreigners (including PRs) had a 41 per cent share, nearly double their 21 per cent share back in 2000, according to Jones Lang LaSalle's analysis.

    Foreigners who are not PRs have shot up the buying charts. They picked up 26 per cent of non-landed homes that changed hands in CCR last year, compared to their 11 per cent share seven years earlier. CCR includes the prime districts 9,10 and 11, Downtown Core location and Sentosa Cove.

    DTZ executive director Ong Choon Fah likens the luxury residential sector in CCR to Central London, with a high proportion of foreign ownership. 'We'll have to accept that Singapore will be open to international competition, with funds and high net-worth individuals coming in. People who cannot afford to live in these areas will have to find alternative locations,' Mrs Ong says.

    JLL's study showed that even in the Outside Central Region (which covers suburban locations and is a realm dominated by typical Singaporean home upgraders), the share of foreign buyers (including PRs) went up to 22 per cent last year from 13 per cent in 2000.

    In the Rest of Central Region, which covers the mid-tier market, foreigners' (including PRs') share increased from 18 per cent in 2000 to 29 per cent in 2007. The percentage of non-landed homes bought by Singaporeans in the area fell from 74 per cent in 2000 to 61 per cent last year.

    Jones Lang LaSalle analysis covered caveats lodged for the purchase of non-landed private homes in both primary and secondary markets (including subsales).

    Overall, the absolute number of such properties purchased by all categories of buyers has increased over seven years. The total caveats lodged for purchases of apartments/condos more than tripled, from 9,347 in 2000 to 30,576 last year. Even though Singaporeans bought more than they did in 2000, their share fell as purchases by foreigners saw higher percentage gains.

    Islandwide, the number of private apartments/con- dos bought by Singaporeans jumped 165 per cent from 7,225 units in 2000 to 19,154 units last year.

    Over the same period, the number of private apartments/condos bought by foreigners (counting PRs as well) leapt 496 per cent from 1,491 units in 2000 to 8,884 units in 2007.

    The increase was due partly to the influx of foreign talent into Singapore. 'As birth rate of the citizen population is below replacement level, in-migration has been necessary to sustain economic growth. As at end-2007, Singapore's total population stood at 4.588 million, with well over a million foreigners. This is a 33 per cent increase from the 750,000 foreigners as at-end 2000,' JLL says.


    Snap snap snap! Snap them up man!

  23. #23
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    OH WHERE ARE THE BARKING DOGS? ALL RUSHING TO THE EXITS I SUPPOSE.

  24. #24
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    OH WHERE ARE THE BARKING DOGS? ALL RUSHING TO THE EXITS I SUPPOSE.
    You are the only dog left.

  25. #25
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by mr funny
    Published April 9, 2008

    Private bankers upbeat despite credit crunch

    By GENEVIEVE CUA


    (SINGAPORE) The world may be mired in a credit crunch, economic slowdown and rocky stock markets. But bankers catering to the well-heeled in Asia expect growth almost akin to that of last year, as they hunker down to squeeze yet more productivity out of their relationship managers.

    Credit Suisse managing director and head of private banking Marcel Kreis, for instance, says revenues and assets under management have been growing by 20-30 per cent annually. 'Our Asia Pacific private banking operations have been enjoying very strong momentum and this is expected to continue in the next two years, with the objective of doubling the Asian business.'

    Merrill Lynch head of global wealth management (Asia Pacific) Rahul Malhotra says the bank saw growth of 30-40 per cent in assets last year. 'I would be surprised if we didn't see those numbers this year . . . There is growth overall in Asian economies. Even with what is happening in the US, inherently we will see growth come through.'

    Private banks' relatively low penetration of Asian markets presents opportunities, says Tjun Tang, Boston Consulting Group director. BCG is currently compiling data for its annual wealth survey. 'We're seeing assets sitting in private banks of less than US$1 trillion. But household wealth across Asia comes to US$16 trillion . . . Many banks are growing 20-30 per cent a year. If the underlying wealth is growing at an 8 per cent rate, there must be an increasing penetration of services.'

    Market volatility, however, could impact banks' revenue streams as a substantial proportion comprises income that is transactional in nature. 'In Asia, a lot of revenues are generated through private banks selling transactional products. Now that there is less of a single directional trend, one risk is that private banking income may decline or be less stable,' says Mr Tang.

    Still, he expects margins in Asia to remain healthy. 'We're still fairly bullish on Asia despite compensation levels having gone up a lot. Pre-tax margins are still in good territory.'

    On the hiring front, the appetite for junior bankers appears to have abated, but almost all the banks say they are on the lookout for mature bankers with a book of business.

    Nick Hughes of Fox Partnership, which specialises in placing top-level hires in wealth management, says: 'A bank may suffer sub-prime woes. But if there is a strong banker talent, he or she is an asset, regardless of the current situation.' Banks, he adds, will demand more accountability.

    The firm continues to work on a number of 'interesting' projects, which includes placing Asian bankers in posts in Switzerland, for instance, to serve Asia from Europe, as well as the reverse - the hiring of European bankers for Asia.

    On investments, bank strategists continue to see opportunities in emerging markets, particularly the Middle East and Latin America, and selected Asian markets. JP Morgan Private Bank chief investment strategist Ivan Leung believes regional stock markets are 'excellent long- term investments'. He singles out Thailand and Taiwan, which have underperformed Asia ex-Japan for four years, but are at the start of a domestic turnaround. Singapore and Korea are cheap, he adds, 'but will likely require some patience'.

    On a 12-month view, Deutsche Bank Private Wealth Management forecasts a return of 10-16 per cent for US equities; 8-13 per cent for Euroland; and a higher 10-17 per cent for Latin America and Asian equities due to higher growth and earnings.
    Stop wasting your time on the forum. The forum will not make you rich.
    Have a break. Let me buy you a cup of coffee.

    - Your private banker

  26. #26
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Quote Originally Posted by Unregistered
    You are the only dog left.
    Pissed Pissed Pissed
    Those stuck are pissed
    Thought market would go up
    and they could flip
    But ended up getting the whip.
    Ohhh pissed pissed pissed
    Speculators are pissed

  27. #27
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Pissed Pissed Pissed
    Those stuck are pissed
    Thought market would go up
    and they could flip
    But ended up getting the whip.
    Ohhh pissed pissed pissed
    Speculators are pissed

  28. #28
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Pissed Pissed Pissed
    Those stuck are pissed
    Thought market would go up
    and they could flip
    But ended up getting the whip
    Ohhh pissed pissed pissed
    Speculators are pissed

  29. #29
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Pissed Pissed Pissed
    Those stuck are pissed.
    Thought market would go up
    and they could flip
    But ended up getting the whip
    Ohhh pissed pissed pissed
    Speculators are pissed

  30. #30
    Unregistered Guest

    Default Re: Rising tide of foreigners snapping up S'pore property

    Pissed Pissed Pissed
    Those stuck are pissed
    Thought market would go up
    and they could flip
    But ended up getting the whip
    Ohhh pissed pissed pissed
    Speculators are pissed.

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