Brokers' take
Sector: Singapore banks | Overweight
Maybank Kim Eng Research, Jan 5
We sense mounting concerns over potential loan defaults by foreigners who had snapped up Singapore properties from 2005 to 2011. More luxury homes sold at losses in Sentosa and Orchard, foreigners' favourite enclaves, have been making the news. The holding power of Chinese investors, the largest group of foreign purchasers since 2011, is perceived to be strong but untested. Indonesians, once the leading foreign buyers, have been less active since 2012.
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