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Thread: Jump in number of Malaysian and Chinese buyers of Singapore properties in Q2: DTZ

  1. #1
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    Default Jump in number of Malaysian and Chinese buyers of Singapore properties in Q2: DTZ

    SINGAPORE - The number of Malaysian and mainland Chinese buyers of Singapore private homes jumped in the second quarter compared to the first three months of the year, according to research from global real estate services firm DTZ.

    "This increased activity coincided with heightened economic uncertainty in China and political concerns in Malaysia," DTZ noted, adding that these buyers were aiming to preserve their wealth.

    Purchases by Malaysian buyers rose the most, by 53 per cent q-o-q, to 248 units. Not far behind, were buyers from China who signed for 232 units.

    Together, buyers from these two countries accounted for almost half of the purchases by non-Singaporeans in the second quarter. This added up to 1,017 units - 381 units, or 60 per cent, more than in the first quarter, but still below the approximately 1,250 units sold to foreigners in the same quarter last year.

    Mr Lee Nai Jia, regional head of research at DTZ, said that the firm had expected to see a drop in the number of Malaysian buyers coming to Singapore given the fall of the ringgit - but the opposite occurred.

    He told the Straits Times: "I think all the political issues in Malaysia has hindered some of the structural reforms that were supposed to take place. That has become a concern among Malaysian buyers, moving them towards Singapore."

    He added: "They want to make sure that their money and their wealth is intact and doesn't depreciate further."

    The reasons driving Chinese buyers were different, he said, as it was probably China's stock market plunge that spooked investors, raising doubts about China's financial stability and security. This would have caused them to see Singapore as a safe haven, said Mr Lee.

    Looking forward, DTZ expects the yuan's devaluation to impact Chinese buyers in that it will drive more high net worth individuals to purchase Singapore property. But those whose wealth has been hit by China's stock market rout are likely to stay away.

    Mr Lee said that DTZ would have to see whether the increase in Malaysian purchases would continue, but he added that Malaysians "continue to form one of the main non-Singaporean buyers, especially in the prime district."

    DTZ's report showed that Singaporeans continued to represent the bulk of home buyers in the second quarter at about 77 per cent, unchanged from the same quarter of 2013 before tougher mortgage curbs were implemented.

    [email protected]

    http://www.straitstimes.com/business...tz#xtor=CS1-10

  2. #2
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    So they would rather take the 15% ABSD +3% BSD than to allow their properties to lose value via depreciation / devaluation?

    If I were them, I might opt to loan more in home currency (buying China / Malaysia properties) and suffer the devaluation. Devaluation means money smaller means loan becomes even smaller relative to other currencies?

    I have a colleague cheering the ringgit currency losses. His loan will be so much smaller in SGD by the time he starts to pay.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  3. #3
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    We have one of the highest tax for foreign buyers and stronger currency compared to neighboring countries.


    These buyers must be bought into our Singapore story.
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    Default Wondering who are the top 10 countries snapping up our properties?

    Check out our latest post on http://propertycarrots.com for the top 10 purchases by nationalities.
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    www.PropertyCarrots.com
    ☆☆Property Discovery Made Easy!☆☆
    Share your findings, discover new trends, real time transaction
    data, all in one social network for singapore property investors!
    Like Us on Facebook - https://www.facebook.com/propertycarrots

  5. #5
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    Quote Originally Posted by propertycarrots View Post
    Check out our latest post on http://propertycarrots.com for the top 10 purchases by nationalities.
    Thanks.

    Just 1 honest suggestion: what made you choose the name propertycarrots if the intention is to promote or analyse properties? Carrots has association with carrot-heads you know?

    Maybe propertyapples or propertybananas sound more positive?

    No offence intended.

    Good work there!
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  6. #6
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    Quote Originally Posted by Kelonguni View Post
    Thanks.

    Just 1 honest suggestion: what made you choose the name propertycarrots if the intention is to promote or analyse properties? Carrots has association with carrot-heads you know?

    Maybe propertyapples or propertybananas sound more positive?

    No offence intended.

    Good work there!
    Hi Kelonguni,
    Gd point you have made. The name propertycarrots derives from the carrot and stick theory. With 'carrots' or property analytics , you get rewarded for making a sound investment with the network of investors/home owners in the social platform. Alternatively, with PropertyCarrots info we can stop you from getting Cai Tao as well
    =======================================
    www.PropertyCarrots.com
    ☆☆Property Discovery Made Easy!☆☆
    Share your findings, discover new trends, real time transaction
    data, all in one social network for singapore property investors!
    Like Us on Facebook - https://www.facebook.com/propertycarrots

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  8. #8
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    Quote Originally Posted by Kelonguni View Post
    So they would rather take the 15% ABSD +3% BSD than to allow their properties to lose value via depreciation / devaluation?

    If I were them, I might opt to loan more in home currency (buying China / Malaysia properties) and suffer the devaluation. Devaluation means money smaller means loan becomes even smaller relative to other currencies?

    I have a colleague cheering the ringgit currency losses. His loan will be so much smaller in SGD by the time he starts to pay.
    If I were a Malaysian or Ah Tiong holding on to a depreciating currency, 1st instinct is to buy property in a country whose currency is appreciating. This is the same reason why prices for properties in the US is appreciating now, despite the rising US dollar (whereas it was depreciating amidst all the QEs).

    Similarly, SG was enjoying all the cheap money while SGD was all time high against the USD and no matter what CMs were introduced back then, Singaporeans and foreigners continued to buy. Now with SGD making new lows against the USD, the trend is reversing and property prices are on the decline. However, with MYR and Yuan (also a few other SEA currencies) depreciating against SGD, SGD is effectively rising relative to these currencies. Now, prices may see some respite in the short term.

    http://forums.condosingapore.com/sho...S-may-be-wrong!

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