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SINGAPORE PRESS-Foreigners' share of home purchases creeping up - Business Times
April 23, 2014 / 12:16 AM / 3 years ago

SINGAPORE PRESS-Foreigners' share of home purchases creeping up - Business Times

Private home purchases fell across the board in the first three months of this year to just over 2,000 units - the first time in more than five years that the number has dropped below 3,000 homes. However, foreigners’ share of transactions edged up because of a sharper pullback by Singaporean buyers.

Singaporeans' share - at 70 percent - is at its lowest since the introduction of the additional buyer's stamp duty (ABSD) in Q4 2011. In absolute terms, purchases by permanent residents (PRs) and foreign buyers were also at their lowest levels since the Q1 2009 market trough during the global financial crisis. (link.reuters.com/byx68v)

NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Rujun Shen; Editing by Anand Basu)

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