PROPORTION OF FOREIGN BUYERS RISES

The proportion of foreign buyers in the Singapore property market is on the rise following recent price falls, according to data published by CIMB in its Cost of Living survey.

The proportion of foreign buyers in the Singapore property market is on the rise following recent price falls, according to data published by CIMB in its Cost of Living survey.

The report, published yesterday, said: "Foreigners view Singapore as a good city to own a piece of property, but cited high property prices as their key deterrent. In a separate survey of foreigners not based in Singapore, 35 percent of the surveyed population believe that the biggest draw for investing in a property in Singapore is its infrastructure and security, with Singapore being seen as a clean and efficient city. 

the main deterrent to buying properties now. Singapore remains fundamentally a good city to own a property and demand should be supportive when property prices fall to a reasonable level. 

It said: "In our view, that reasonable level is a 10-15 percent decline in the next two years. With the recent fall in property prices, we have already started to see the proportion of foreign buyers creeping up."

Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg

Source: PropertyGuru.com.sg

Date Post: 23/5/2014
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