Results 1 to 7 of 7

Thread: Foreigners back in private home market

  1. #1
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Foreigners back in private home market

    http://www.straitstimes.com/Prime%2B...ry_450383.html

    November 5, 2009 Thursday

    Foreigners back in private home market

    They account for 22.7% of such sales in Q3, above the 19.7% average

    By Joyce Teo


    FOREIGN buyers are streaming back into the private homes market in growing numbers, especially those from China.

    New research from property consultancy Savills Singapore shows foreigners accounted for 22.7 per cent of private home sales in the third quarter - above the 19.7 per cent average since the start of 2000.

    Buyers from China have dislodged those from India for the No. 3 spot in the rankings this year with a contribution of nearly 15 per cent of total foreign purchases. This puts China just behind Indonesia in the second spot and Malaysia at No. 1

    In the past two years, India had been in third spot, but it has slipped to fourth.

    Last year, buyers from China had moved up to the No. 4 spot, dislodging buyers from Britain.

    Buyers from Myanmar featured more strongly, coming in at No. 8. They did not make it to the top 10 last year, and were 10th in 2007.

    In the July to September period, foreign buyers - including permanent residents - 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 compiled by Savills.

    In all, permanent residents bought 1,389 homes in the third quarter.

    DTZ said its preliminary data for the third quarter showed that foreigners accounted for about 25 per cent of total sales, compared with about 33 per cent during the boom of 2007.

    The most popular project sought by foreigners was Sophia Residence, a project launched in July. Then came Caribbean at Keppel Bay, Ascentia Sky, One Devonshire and Viva.

    Permanent residents preferred Melville Park, a 99-year leasehold condominium in Simei, the recently launched Trevista, followed by Caribbean at Keppel Bay.

    About 54 per cent of the purchases by China buyers were for resale homes, said DTZ head of South-east Asia research Chua Chor Hoon.

    Like Malaysian buyers, buyers from China tend to prefer homes priced between $500,000 and $1 million.

    One-fifth of them bought homes costing $1.5 million to as much as $5 million.

    Indonesians, however, tended to go for higher priced projects, particularly those priced $1.5 million to $5 million.

    They like properties located at Novena, River Valley and the Singapore River.

    They had been the biggest group of foreign buyers, taking first place from 2004 to 2007, only to lose the spot to Malaysia during the recent economic crisis, said Ms Christine Sun, Savills Singapore's senior research & consultancy manager.

    The latest figures featured a substantial rise in the number of foreign transactions for higher-priced properties.

    A total of 86 properties priced above $5 million were sold in the quarter, up from 27 in the second and a mere six in the first.

    Also, there was a 60 per cent rise in deals for projects costing between $1.5 million and $5 million. Demand from foreigners for mass market homes was little changed from the second quarter.

    Savills said recent data showed that foreigners who are not permanent residents tend to buy more pricey projects.

    This group was also more likely to buy homes in prime districts than permanent residents, said Ms Sun. 'We are hearing that more of these super-rich mainland Chinese buyers have come in recent weeks to buy prime properties like the bungalows in Sentosa Cove.'

    But the big influx of foreigners to the luxury market in the 2006-2007 boom has not quite returned, consultants said.

    Still, support from regional buyers could rise further. Jones Lang LaSalle's head of residential, Ms Jacqueline Wong, said the firm has had rising interest from new potential buyers from India, China and Russia in the past four months.

    'We are one of the places they are considering. They see Singapore as a safe haven,' said Ms Wong.

    A senior private banker at a foreign bank said: 'We are seeing some clients consider buying a Singapore property as one of a string of homes they have around the world. Luxury homes have come down 30 per cent from the peak, so they are better value now.'

    DTZ's Ms Chua said foreign buyers see the growing attraction of Singapore as a global city and expect prices to keep rising as the economy strengthens.

    'Prices of prime and luxurious units have not reached 2007 levels and there is still the potential of capital appreciation depending on the rate of economic recovery,' she said.

    [email protected]
    Attached Files Attached Files

  2. #2
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default

    http://www.straitstimes.com/Prime%2B...ry_450384.html

    November 5, 2009 Thursday

    China buyers prefer properties under $1m


    HOME buyers from China prefer properties under $1 million and tend to favour apartments near MRT stations as they generally do not own cars here.

    Many are permanent residents and work here, possibly in areas such as Jurong, Bedok and Kallang.

    That is the typical profile of a buyer from China, say agents The Straits Times spoke to.

    A total of 707 buyers from China, of whom 432 were PRs, bought homes in the first nine months of the year.

    As with buyers from Malaysia and India, PRs from China far outnumber those who are non-PRs, data from Savills Singapore showed.

    'Lately, for mass market products, we are seeing more Chinese buyers than Indian buyers,' said PropNex chief executive Mohamed Ismail Gafoor.

    Agents said a large group of China buyers are Singapore PRs who already have families or are about to settle down here and are buying properties for their own use.

    A small group of investors are young couples in their 30s to 40s who run their own businesses back home, said mortgage consultant Ally Yang of her clients.

    There is also a group of 'flamboyant high net worth types who has at least several millions to burn' looking to buy, possibly for investment, said a property agent who deals mainly with new projects.

    A Frasers Centrepoint spokesman said a lot more China buyers had snapped up units at its Caspian project next to Lakeside MRT station, launched in February, than earlier projects.

    Those China buyers were residing or working in the area, she said.

    Savills said that most of the buying activity from China nationals this year was concentrated in Jurong West and Bedok, followed by Kallang.

    'Those who want to invest like Singapore because the rental returns are better and they can look forward to capital appreciation. They would have a friend or relative here,' said Ms Yang, a PR from China. 'They are happy with leasehold properties here because in China, the maximum lease is only 70 years.'

    JOYCE TEO

  3. #3
    Reporter's Avatar
    Reporter is offline F01 N54 Sheer Driving Pleasure
    Join Date
    Apr 2008
    Posts
    2,549

    Default


    More foreigners buying our private homes
    H88
    Thursday, 5 November 2009, 18:02



    Savills Singapore has confirmed what most of us already know by now - foreign buyers are on the rise. According to their research, foreigners (including PRs) bought 22.7% of homes during July-Sept this year. A huge increase from the 15.2% recorded in Jan-Mar this year. Not only that, China has overtaken India as the 3rd largest group of foreign buyers after Malaysia and Indonesia.

    Malaysian and Chinese buyers favoured homes under $1m, while Indonesians preferred more expensive homes ranging from $1.5m to $5m. Favourite among the buyers are Sophia Residence, Caribbean at Keppel Bay, Ascentia Sky, One Devonshire and Viva (looks like the Indonesians were cashing in on our low low prices).


    According the Straits Times,
    Jones Lang LaSalle’s head of residential, Ms Jacqueline Wong, said the firm has had rising interest from new potential buyers from India, China and Russia in the past four months.

    ‘We are one of the places they are considering. They see Singapore as a safe haven,’ said Ms Wong.


    A senior private banker at a foreign bank said: ‘We are seeing some clients consider buying a Singapore property as one of a string of homes they have around the world. Luxury homes have come down 30% from the peak, so they are better value now.’


    DTZ’s Ms Chua said foreign buyers see the growing attraction of Singapore as a global city and expect prices to keep rising as the economy strengthens.

    ‘Prices of prime and luxurious units have not reached 2007 levels and there is still the potential of capital appreciation depending on the rate of economic recovery,’ she said.
    Wow, looks like there's plenty of foreign money coming in, hmm ... I wonder where all this money is coming from?

  4. #4
    Join Date
    Apr 2008
    Posts
    1,286

    Default

    Quote Originally Posted by Reporter
    Wow, looks like there's plenty of foreign money coming in, hmm ... I wonder where all this money is coming from?

  5. #5
    Join Date
    Jul 2009
    Posts
    549

    Default

    Quote Originally Posted by jlrx
    How do you do all these nice pics, photoshop?

  6. #6
    Join Date
    Apr 2008
    Posts
    1,286

    Default

    Quote Originally Posted by andy
    How do you do all these nice pics, photoshop?
    I didn't make this ... just image link to here:

    http://www.marketoracle.co.uk/images/obama-money.jpg

    Talking about this money printing ...

    The USA keeps printing and flooding the world with more and more money, while their unemployment rate keeps going up ...

    There is no end to it ... and the money will just flood the whole world.

    Now gold has reached US$ 1090 per Oz. and oil US$80 per barrel ...

  7. #7
    Join Date
    Jul 2009
    Posts
    549

    Default

    Quote Originally Posted by jlrx
    I didn't make this ... just image link to here:

    http://www.marketoracle.co.uk/images/obama-money.jpg

    Talking about this money printing ...

    The USA keeps printing and flooding the world with more and more money, while their unemployment rate keeps going up ...

    There is no end to it ... and the money will just flood the whole world.

    Now gold has reached US$ 1090 per Oz. and oil US$80 per barrel ...
    China has more than $2T in USD. So what do you think will happen. China would not want the USD to fall too much?

    As long as much of world's transactions for services/goods in US dollars, they can and must just keep printing, otherwise the global engine of growth will collapse?

Similar Threads

  1. Foreigners' share slips in private home deals
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 55
    -: 23-05-13, 13:27
  2. Foreigners' share of private home buys seen shrinking in first half
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 24-01-13, 13:31
  3. Buyers back out of 105 private home deals
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 6
    -: 26-07-12, 12:57
  4. Private home resales spring back to life
    By Leeds in forum Singapore Private Condominium Property Discussion and News
    Replies: 138
    -: 12-05-12, 00:25
  5. Foreigners the next catalyst for private home market?
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 5
    -: 19-04-11, 20:02

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •