25 May '15, 12pm

New: Singapore Property News This Week #209

More foreigners are purchasing luxury homes in Singapore that are priced more than $5 million, according to a caveats analysis. According to DTZ, homes that cost more than $5 million accounted for 19 percent of private homes bought by foreigners in April this year. This is a significant increase from a 6 percent share in Q1 this year. According to the Business Times, demand for luxury homes may have increased due to a fall in property prices. Not only so, market experts believe that property prices in Singapore are more attractive as compared to prices in Hong Kong. This may have resulted in a shift in demand for Singaporean properties. Despite that, the absolute volume of transactions is still low, said the Business Times. On the other hand, George Tan from Savills Residential said that foreign investors are still drawn to the transparent property market in Singapore, des...

Full article: http://www.propwise.sg/singapore-property-news-this-week-...

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