04 Mar '11, 11am

More mainland Chinese investing in Singapore property for the long-term: SINGAPORE: There was a record number of...

SINGAPORE: There was a record number of mainland Chinese home buyers in the last quarter of 2010, according to data from the Urban Redevelopment Authority (URA). With more drastic cooling measures implemented by the Chinese government, analysts say more Chinese will put their money in Singapore property. SINGAPORE: Mainland Chinese buyers are now the second largest group of foreigners who buy homes in Singapore, falling behind to Malaysian buyers - who have typically dominated foreign ownership of property here. Chinese buyers accounted for 23 per cent of foreign buyers in the fourth quarter of 2010, up 3 percentage points from the previous quarter. They have outpaced Indonesian buyers, who fell behind at 18 percent. Overall, Chinese buyers accounted for 19 percent of all foreign buyers in 2010. Analysts say investing in Singapore property for the long-term is no longer un...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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