Foreign buyers increase their activity in singapore property market

Chinese buyers are the main buyers of private homes in Singapore after domestic buyers, according to figures for the second quarter of 2011.

They bought 640 homes in the second quarter, up 26% from 527 units in the first three months of the year, according to a new report from DTZ.

The proportion of acquisitions made by non Singaporeans in the second quarter was similar to the 16% recorded in the previous quarter.

In absolute terms, foreign purchases were 1,327 in the second quarter, below the record high of 1,741 foreign purchases in the same period in 2007. With the exception of one landed home in Sentosa Cove, the rest of the transactions by foreigners were for non landed homes, the DTZ report shows. 

Source: PropertyWire.com