Overseas investors see singapore sales soar

Singapore property sales soared by nearly 42 per cent in July compared to the month before. The surge in activity, reported by the Urban Redevelopment Authority, was driven by overseas investors, with buyers from Indonesia, China and India the main players.

Three of the top four most popular developments with in suburban areas of Singapore, with sales in the Core Central Region (CCR) up by almost 80 per cent from June to reach 253 units. Including Executive Condominiums, a total of 2,067 new homes were sold in July.

 "As the market prepares for the upcoming Ghost Month, all segments have seen a jump in sales," commented Tejaswi Chunduri, Regional Analyst at PropertyGuru. "A notable rise was recorded in the CCR which saw home sales peak at 253. In fact, July's home sales in the CCR were the highest in the last 15 months, only after April 2011's sales volume of 306."

"This reinforces the fact that location is the most important factor when considering property investment," she added. "This also indicates a return in developer-investor confidence as investors are on the lookout for strategically located projects."