19 Jun '14, 8am

sounds like a great weekend getaway

[SINGAPORE] Funtasy Island, just 16 kilometres from Singapore's Sentosa Cove , has already sold 510 villas and condo apartments amounting to about $250 million. A significant 70 per cent of the buyers are Singaporeans, according to Michael Yong, director of Funtasy Island Development Pte Ltd. Elsewhere, Bursa-listed Landmarks Berhad will be starting the sale of 300 serviced apartments in Phase 1 of the water resort city Treasure Bay Bintan later this year. Treasure Bay Bintan's chief operating officer, Paul Leong, told BT that the target buyers will be Singaporeans and Indonesians. Foreign buyers seem undeterred by the intricacies of Indonesian property laws, going by the recent popularity of resort-style homes in Indonesia . Under Indonesian laws, foreigners are only allowed to hold the land use rights of a property but not the title deed. They can hold the Right to Use t...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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