24 Dec '12, 10am

Luxury homes seen getting foreign boost

http://www.businesstimes.com.sg/prem...boost-20121224 Published December 24, 2012 Luxury homes seen getting foreign boost Market watchers expect them to return amid low interest rates and surplus liquidity By Mindy Tan [SINGAPORE] The return of foreign investors to the private residential market, coupled with the low interest rate environment and surplus liquidity, may help the luxury market to recover next year. This, despite foreigner's share of purchases diving from 17.5 per cent last year to 6.2 per cent in November 2012, caveat records showed. The decline in foreign purchases came after the implementation of an additional buyers' stamp duty (ABSD) in December last year, which slapped an additional 10 per cent buyers' stamp duty on foreigners. Interestingly, purchases by Americans and Norwegians, who are exempt from the extra 10 per cent tax, got a boost this year. "Fo...

Full article: http://forums.condosingapore.com/showthread.php?p=347467#...

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