Statistics reveal that Singaporean buyers spent approximately $1.1 billion worth of international properties this H1, much lesser than the $1.6 billion expenses last year.
Critics believe that the decrease in the purchasing power of Singaporeans is due to the weakening economy of the country and a foreseeable hike over interest rates in the coming years.
On another report made by Central Bank (in their Financial Stability Report), real estate agencies in the country have seen to give out great interest over international properties and their purchases.
When it comes to quantity, properties purchased in Great Britain, Australia and Malaysia made up 76% of all transactions made during the first half of 2014 and around 91% by value. The agencies also expanded their purchases to Thailand, Japan and Philippines.
The low quantum of properties outside Singapore made them attractive to low and middle income households in Singapore.