Despite all the uncertainty in market, more Singapore private homes were purchased by foreign buyers in the first quarter of 2016 compared to the last quarter of 2015, DTZ reported.
Purchases by non-Singapore PRs grow by 5.4% to 236 units on quarterly basis, and those by permanent residents (PRs) climb by 2.6% to 591 units.
Contrary to the number of private homes purchased by Singaporeans in first quarter dropped by 18.2%.
Most properties priced above $1.5 million were purchased by foreigners during the quarter.
From 37 homes in Q4 2015, PRs bought 46 homes in Q1 2016 with priced between $2 million to $3 million, while foreigners bought 40 homes during the quarter, from 19 previously.
The Cairnhill Nine and Kingsford Hillview Peak emerged as the 2 preferable projects among overseas buyers.
Written by Siang Teck of Property Review. I can be contacted at [email protected]
