You are here

Dim prospects, ABSD set to cut foreigner home buying again this year

Purchases by non-PR foreigners down 22% in 2015 while Singaporean and PR buying improves

BT_20160212_KRFOREIGNSP14_2112466.jpg
"A higher fraction of people receiving PR status these days seem to be getting it for their professional capabilities rather than their family wealth." - Century 21 Singapore CEO Ku Swee Yong
BT_20160212_KRFOREIGNSP14_2112466.jpg
"HNWIs are more optimistic about property market prospects in London and gateway cities in the US." - Lee Nai Jia, DTZ's regional head (SEA), research

Singapore

THE appetite for Singapore residential property among foreigners continues to diminish, depressed by higher purchase taxes and dim prospects for gains or returns.

The number of private homes bought by non-resident foreigners (non-permanent residents) dropped 22 per cent