08 Feb '12, 11pm

Foreigners snapped up about 9,300 private homes last year, a third of total sales in 2011

A report by property consultancy Savills Singapore found that estates like Serangoon Garden (above), Hougang, Punggol, Geylang and Eunos made an impression with foreigners last year, ranking as some of the most popular districts where foreigners, including permanent residents, have flocked to snap up private homes. -- ST PHOTO: TERENCE TAN By Esther Teo, Property Reporter Foreigners snapped up about 9,300 private homes last year - making it a record one-third of total sales - as factors such as low interest rates and robust economic fundamentals ignited the property market. Their buying patterns have entered new territory as well, with purchasers moving from the traditional prime districts of 9, 10 and 11 to emerging hot spots in Tampines and Pasir Ris. The 2011 boom could be a high water mark, given that December's cooling measures added a 10 per cent stamp duty on homes ...

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

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