28 Nov '14, 6am

S'poreans bought less foreign properties in H1: MAS

Comment E-mail to friend Bookmark & Share Singaporeans’ appetite for overseas properties appears to have diminished due to the weakening local economy and a possible interest rate hike in the future. According to the Monetary Authority of Singapore (MAS) and reported in the media, buyers from Singapore purchased approximately $1.1 billion worth of real estate in other countries during H1 2014, compared to more than $1.6 billion in the same period a year ago. “Nonetheless, real estate agencies in Singapore have seen increased interest in overseas property purchases, from across a broader spectrum of Singapore buyers,” said the central bank in its latest Financial Stability Review. In terms of quantity, properties in Australia, Malaysia and Great Britain made up 76 of the transactions for the first half of 2014, and 91 percent by value. Aside from those markets, Singaporeans...

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

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