28 Oct '13, 8am

Singapore’s wealthy help drive global property demand: Asia's wealthy drive growing luxury-home demand globall...

"Chinese buyers' global presence is fueled in part by a strong yuan and slowing domestic economy, both of which are encouraging Chinese investors to look further afield in an attempt to diversify their investments," the report said. (Read more : Asia's commercial property deals set for record year ) London was also a winner with no. 3 ranked Russian buyers, who were targeting New York and Monaco as well, but they were bigger spenders, laying out an average $3.0 million a pop, it said. Latin American buyers didn't make the top-10 list, but Knight Frank expects them to become more important for the new-build segment in the future, with Brazilian, Mexican and Venezuelan investors, already prominent in their region, increasingly looking further afield, targeting Miami, Paris and Madrid. (Read more : Singaporeans snap up London homes as local market slows ) Private investors ha...

Full article: http://www.cnbc.com/id/101147258

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