Analysis of sale transactions of foreign homebuying in Singapore
DATE: 02 August 2010
- Encouraging foreign homebuying in Singapore
- A total of 9,326 private residential properties2, were sold in 2Q 2010, reflecting a 6% qoq increase compared to 1Q 2010 (8,833 units were transacted in 1Q 2010). In total, 18,159 private homes were transacted in 1H 2010, 45% higher than that sold in 1H 2009.
- Of these 9,326 units transacted in 2Q 2010, 23%, or 2,174 units, were transacted by foreign buyers. Although the share of foreign buyers have reduced from 26% in 1Q 2010 to 23% in 2Q 2010, this still fell in the usual share which foreign buyers accounted for, i.e. above 20%. The last period where foreign buyers have retreated to the sidelines was 1Q 2009, where the worldwide economic recession severely affected foreigners in making overseas investments. In 1Q 2009, foreigners accounted for 15% of overall private residential purchases. ...more
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