28 Sep '15, 3am

#singapore #property Foreign home buying down 7.6% in Q1: Foreign buying in Singapore’s...

#singapore #property Foreign home buying down 7.6% in Q1: Foreign buying in Singapore’s...

Comment E-mail to friend Bookmark & Share Foreign buying in Singapore’s property market has dwindled in 2015 compared to the previous year and in 2013, reported Singapore Business Review citing BNP Paribas’ trend analysis. The report stated that the slowdown is due to currency weakness in Malaysia, Indonesia and China, the additional buyer’s stamp duty (ABSD) of 15 percent on overseas buyers, and the tighter immigration policy curbing foreign worker inflow. In the first three months of 2015, foreign buying accounted for just 7.6 percent of total home transactions, down from 11.3 percent in Q1 last year. “By sub-segment breakdown, homes transacted by foreigners in Q1 2015 accounted for 13.3 percent of (the) high-end segment, down from 17.4 percent a year ago (in Q1 2014). (A) similar trend happened in (the) mid-end (6.0 percent, down from 8.5 percent) and mass market (6.7 p...

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

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