Snapped up by expats

[SnaptUp]

FOREIGN home buyers snapped up 16 per cent of all private homes sold in the first quarter - the highest quarterly percentage since data became available in 1995.

Well done all the expats who finally saw the light.

Experts say the high foreign proportion in the market is because such buyers have been less affected by the rounds of cooling measures which have muted local interest.

The overseas impact has been telling, according to the DTZ Research report that contains the new buying figures.

Its analysis of caveats lodged for both new and secondary sales found that foreigners bought 1,028 units in the three months to March 31. That 16 per cent share of the market tops the previous record of 15 per cent - or 784 units - in the fourth quarter of 2007.

Foreigners were also active in the last quarter of last year when they bought 1,092 units, accounting for 13 per cent of the market.

Demand from permanent residents (PRs) remained stable at 17 per cent in both quarters. DTZ said Chinese buyers - including permanent residents - also set a record, accounting for 24 per cent of purchases made by non-Singaporeans in the quarter. They have overtaken Malaysians for the first time

[Hot Money]

Yes, much of it is hot money feeling from China and Indonesia.  I was apartment hunting recently and was very surprised that, on average, one out of every three landlords was Indonesian.

[tenant10]

Yes, much of it is hot money feeling from China and Indonesia.  I was apartment hunting recently and was very surprised that, on average, one out of every three landlords was Indonesian.

Hot and dirty, I suspect.  Going to be laundered pure white in SG....

[Agent007]

Hot money is not allowed in Singapore

[course not]

The secrecy laws and all the private banks are clearly for heartlanders benefit.

[huh?..]

" Hot money is not allowed in Singapore "

you must be joking?

[Hot Money]

Hot money is allowed everywhere.  Countries positively compete over it.  The Swiss economy is positively built on it as are numerous offshore financial centres (mainly British dependencies like Jersey, Guernsey, Bermuda etc.).

BUT that is not all.  The rows of expensive houses owned by Russians in north Londn and by Arabs in West London (as well as the banking services there) are all evidence of Hot Money.  Several other European places like Cyprus and Helsinki are overrun by the illicit money gushing out of the former Soviet Union and Dubai is a centre for the Hot Money leaving Iran, Pakistan and Persian Gulf countries.

Everyone is at it whilst everyone professes outraged innocence.

[Kubes.SG]

Hot money is not allowed in Singapore

Ha Ha Ha Ha Ha -  what a naive idiot.

[sucker]

hot money and dirty money is termed "wealth management" here

[Agent 779]

Remember if you stand by the dock and miss the boat,prices are sure to skyrocket so snap up them there units up while y'all can.  Heres where you heard it first.

Ya gotta be in it to win it !!

Buy off plan and flip a month later.

[Blaze]

I don't know why some people are trying to hide the fact that market is slowing down. The article clearly says that foreigners bought 1,028 units in Q1, which is LESS than 1,092 units in the previous quarter. But the demand from locals dropped even more, so the percentage by foreigners is bigger.

The correct title would be:

- Weakening demand by both locals and foreigners

[Bigtime]

I don't know why some people are trying to hide the fact that market is slowing down. The article clearly says that foreigners bought 1,028 units in Q1, which is LESS than 1,092 units in the previous quarter. But the demand from locals dropped even more, so the percentage by foreigners is bigger.

The correct title would be:

- Weakening demand by both locals and foreigners

Come on ,we all know why they are hiding it.They are agents and property speculators.It is in their interest to keep people in the market no matter how bad the economy is.

[SPH gains to profit]

I don't know why some people are trying to hide the fact that market is slowing down. The article clearly says that foreigners bought 1,028 units in Q1, which is LESS than 1,092 units in the previous quarter. But the demand from locals dropped even more, so the percentage by foreigners is bigger.

The correct title would be:

- Weakening demand by both locals and foreigners

perhaps its because SPH is actually a property developer/owner in its own right.

[Foreign Talents]

When the foreigners start buying, its time to sell. Most foreigners time the market wrongly. Please note "foreigners" by Singapore's definition exclude PR. These are pure foreign speculators who have no permanent residence in Singapore.