25 Nov '11, 12am

Share of mainland Chinese buyers of Singapore private homes hits a record high in Q3

Cooling measures in China have driven property hunters to Singapore. -- PHOTO: THE BUSINESS TIMES By Yasmine Yahya THE share of mainland Chinese buyers of private homes among all non-Singaporean buyers hit a record high in the third quarter, as property-cooling measures in China drove home hunters here. A report by DTZ Research said the Chinese bought 30.6 per cent of the private homes sold to non-Singaporeans between July and September, up from 26.1 per cent in the second quarter. Singaporeans still made up the majority of buyers, with 64.8 per cent of all private home sales in the third quarter made to locals. But this is a drop from 67.9 per cent in the previous quarter. Private home sales to all buyers in the third quarter slumped 24.5 per cent from the second quarter to 6,879 units, and were also lower than the average of 8,003 and 9,167 units per quarter in 2009 and ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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