Results 1 to 2 of 2

Thread: Foreigners buy record 4,980 private homes in '06

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

    Default Foreigners buy record 4,980 private homes in '06

    Published March 21, 2007

    Foreigners buy record 4,980 private homes in '06

    Singaporeans' share of private home purchases slips to 76%, the second lowest since 1995

    By KALPANA RASHIWALA


    (SINGAPORE) The number of private homes bought by foreigners, including permanent residents, went up by 39 per cent last year to an all-time high of 4,980, according to the latest caveats analysis by DTZ Debenham Tie Leung.



    This increased foreigners' share of total caveats lodged for private homes last year to 23 per cent, up slightly from 22 per cent in 2005 - though still shy of the peak figure of 24 per cent in 1995. These private homes include apartments/condos plus landed properties.

    Indonesians accounted for the lion's share or 22 per cent of foreign buyers last year, followed by Malaysians (20 per cent share), Indians (11 per cent) and UK citizens (9 per cent).

    The biggest jump in the number of caveats lodged for private homes last year came from Koreans (up 174 per cent), followed by US citizens (an increase of 85 per cent) and Australians (up 53 per cent ), according to DTZ.

    Singaporeans' share of private homes bought slipped to 76 per cent in 2006, the second lowest level since 1995, according to DTZ's analysis, which is based on caveats captured by Urban Redevelopment Authority's Realis system. The URA's data on caveats go back to 1995.

    The surge in foreign buying of private homes last year was achieved on the back of a 78 per cent jump in the number of condos/apartments they bought in the secondary market to an all-time high of 3,056 units. As a result, foreigners accounted for 28 per cent of all condo/apartment caveats in the secondary market last year, up from a 25 per cent share in 2005.

    The secondary or resale market involves the purchase of properties which are not bought directly from developers. This includes subsale transactions (involving projects that have yet to receive a Certificate of Statutory Completion), although the vast majority of secondary market deals are for resales in completed projects that have already received certificates.

    'Developments which were recently completed and those which offer attractive rental yields drew strong foreign interest in 2006. These include Ardmore Park, Amaryllis Ville and Grange Residences.

    'Besides the prime districts, there were also some areas that were popular with selected foreign communities, such as Indians in the case of District 15 (for example, Pebble Bay and Water Place),' DTZ said in its report. 'Hopes for further price and rental gains drove foreigners' continued interest for resale properties,' it added.

    However, in the primary market, the number of apartments/condos that foreigners bought directly from developers dipped 2 per cent to 1,683 units in 2006.

    Projects that saw a high proportion of foreign buying from developers in the primary market last year included The Tate Residences at Claymore Road (foreigners accounted for 37 caveats, or 64 per cent of the total 58 caveats lodged for the condo last year) and RiverGate at Martin Road (foreigners accounted for 63 per cent of caveats), The Cosmopolitan (54 per cent), One Jervois (50 per cent), St Regis Residences (46 per cent) and Ritz Residences (44 per cent).

  2. #2
    Observer
    Guest

    Default Re: Foreigners buy record 4,980 private homes in '06

    Quote Originally Posted by mr funny
    Published March 21, 2007

    Foreigners buy record 4,980 private homes in '06

    Singaporeans' share of private home purchases slips to 76%, the second lowest since 1995

    By KALPANA RASHIWALA

    The number of private homes bought by foreigners, including permanent residents, went up by 39 per cent last year to an all-time high of 4,980, according to the latest caveats analysis by DTZ Debenham Tie Leung .......... Martin Road (foreigners accounted for 63 per cent of caveats), The Cosmopolitan (54 per cent), One Jervois (50 per cent), St Regis Residences (46 per cent) and Ritz Residences (44 per cent).

    Good! Sell more to them please! Don't sell to the locals.

Similar Threads

  1. More foreigners snap up private homes
    By GSLJ in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 24-02-12, 22:03
  2. Foreigners buy a third of private homes
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 3
    -: 09-02-12, 19:37
  3. Fewer foreigners buying private homes in S'pore
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 11
    -: 02-02-12, 18:08
  4. More foreigners buying new private homes
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 21-12-10, 16:41
  5. Sale of private homes to foreigners slips to 24%
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 09-03-09, 12:31

Posting Permissions

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