27 Aug '14, 7am

"More foreigners turn their backs on #Singapore luxury #property"

Comment E-mail to friend Bookmark & Share The proportion of more expensive private homes priced above the $2 million mark purchased by the top four groups of non-Singaporean buyers fell to 13 percent in H1 2014 compared to 21 percent in the six months before, said DTZ. According to the report, the top groups of non-Singaporeans buying up property here consist of Malaysians, mainland Chinese, Indonesians and Indians. On the other hand, the share of Singaporeans in this price bracket held firm at 16 percent between H2 2013 and H1 2014. “The impact of the ABSD and TDSR framework is stronger for the non-Singaporean buyer groups, clipping their purchasing power, as a larger proportion of their purchases have shifted towards units with smaller price quantum,” DTZ noted. In the first six months of 2014, the proportion of private home purchases below $1 million by the top four non...

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

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