Property Views: BT 14 Nov 2020: From Condo Flippers to Homebuyers

Share this

Summary of The views:

  • FOREIGN buying has always been a major force driving real estate markets across the world, and Singapore is no exception. But increasingly, many in the property sector are observing that more foreign buyers now see their Singapore residential property as a home rather than just a quick flip.
  • Anecdotal evidence points to a structural change in how foreigners regard their residential home ownership here, with more buying to stay rather than as an investment with quick returns.
  • Fewer options can fit into investment objectives of exiting a property investment (profitability) in 3 to 6 years.
  • Cooling measures from the government has imposed 20% (ABSD) on Foreign Investors and jacked up to 25% for entities. The level of speculative activity in private homes has come down over the years
, Property Views: BT 14 Nov 2020: From Condo Flippers to Homebuyers, Trusted Advisor
  • So far, this year for non-landed sales islandwide, the top foreign nationalities are from China, Malaysia, India, Indonesia and the US in this order, said Mr Lam. These buyers make the bulk of their purchases in the S$2 million or less price bracket.
  • For the very wealthy, Singapore is but one of several homes for their jet-set lifestyles, and counts as a safe investment environment. Some projects in particular have a high proportion of international buyers.
  • A recurring theme for foreign buyers is that Singapore is a safe place for families. The nation is also gaining visibility as a politically stable spot in a region now marked by uncertainty and upheaval. Foreign investors buying appetite is more to store their wealth in property for longer term gains as they view Singapore is Politically, Socially and Economically stable and safe as comparison in the region and internationally.

My Thoughts:

Do agree with the author that, with current price expectations of private homes, the regulators of Singapore has been doing their appropriate job to smoothen out the curves to prevent a sudden spike or big drop in the property curve.

With land scarce Singapore, and its stable political and economic environment, the property price will grow gradually in the longer term.

Reference:

https://www.businesstimes.com.sg/brunch/from-condo-flippers-to-homebuyers-are-buying-patterns-shifting-for-foreigners-in-singapores

, Property Views: BT 14 Nov 2020: From Condo Flippers to Homebuyers, Trusted Advisor
, Property Views: BT 14 Nov 2020: From Condo Flippers to Homebuyers, Trusted Advisor

Leave a Reply

%d bloggers like this: