21 Sep '17, 6am

Foreign home buying up 20% this year

View of luxury apartments in Singapore. UOB Kay Hian believes that home purchases by foreigners, which increased by up to 20 percent in the first nine months of 2017, still has room to grow. This comes as the figure accounted for only 22 percent of this year’s private home sales volume, compared to 30 percent in 2007 and 32 percent in 2011. SEE ALSO: Housing market on road to recovery, say experts xfcybyvabqyrcsvftqcaurbe In fact, foreign purchases only comprised 29 percent of the high-end market, way lower than the 41 percent registered in 2007. “The return of foreign buying will benefit the mid- to high-end segment in particular, as they tend to favour the prime city centres, which sees higher demand for leasing,” it said. It noted that foreign acquisitions tapered down, especially following the introduction of the Additional Buyer’s Stamp Duty (ABSD) of 10 percent from ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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