5 foreign nationalities snapping up Singapore property in 2017

By
/ EdgeProp
|
October 8, 2017 9:00 AM SGT
Foreigners are making a comeback in Singapore’s residential property market after pulling back from it in 2012, following the implementation of the additional buyer’s stamp duty (ABSD).
Based on the number of caveats lodged, statistics by the Urban Redevelopment Authority (URA) show that purchases by foreigners increased by 48% to 794 units in 1H2017 compared to 535 units in 1H2016, while those by permanent residents (PRs) rose by 32% to 1,876 units in 1H2017 from 1,416 units in 1H2016.
To provide a comparison, private property purchases made by Singaporeans rose by 69% to 8,950 units in 1H2017 from 5,297 units in 1H2016.
In this article, we will look at the top foreign nationalities who have been snapping up private residential properties in Singapore, as well as where they are buying in 2017, based on URA statistics.
1) Chinese
Buyers from China have consolidated their position as the top buying group in Singapore over the past five years, making up the majority of all foreign property investors here.
The three most popular locations with Chinese buyers in 2017 were districts 19 (Serangoon Garden, Hougang, Punggol), 23 (Hillview, Bukit Panjang, Choa Chu Kang) and 5 (Pasir Panjang, Clementi New Town).
URA statistics showed that the majority of Chinese investors bought properties between $500,000 and $1 million this year. This is followed closely by properties ranging between $1 million and $1.5 million. Find properties above $1.5 million here.
2) Malaysian
Singapore’s closest neighbours come in a close second on the list of top foreign property buyers here on the island.
The three most sought-after locations for Malaysian buyers in 2017 were districts 19 (Serangoon Garden, Hougang, Punggol), 18 (Tampines, Pasir Ris) and 27 (Yishun, Sembawang).
According to URA statistics, the majority of Malaysian investors purchased properties ranging between $500,000 and $1 million this year. Find similarly-priced properties here.
3) Indonesian
Properties within the core central region have always been favoured by Indonesian investors, the third largest group of foreign property investors in Singapore. This is consistent with their buying patterns in...