China has become the largest foreign real estate buyers in Singapore
Due to the current housing policy implemented in China to prevent the surging of housing price, now most of the China people who are having handful of cash are looking to invest in overseas property markets. Singapore becomes the first choice for those China buyers and they have surpassed Indonesia and Malaysia and become the biggest foreign buyers for Singapore property and real estate.
Although foreign homebuyers only constituted about 20% of total property sales in Singapore, but the potential is really huge as this year alone there are already couple hundred of property deals being done.
Analysts believe that those foreign buyers who are possessing of large amount of cash, which include the investors from China, have flocking into Singapore property and real estate market and causing Singapore home prices rising steadily in recent years. Standard Charted bank pointed out, the current overall housing prices in Singapore have gone up about 75% since 2005.
Wall Street Journal reported that, since Singapore is having political stability and rule-based law, the country is widely regarded as Asia’s most secure area for foreign funds deposited.
Over the years, Indonesia and Malaysia were the main foreign investors for Singapore property and real estate. However, in last year a large number of investors from China been eagerly buying houses in Singapore and their buying volumes have surpassed those buyers from Indonesia and Malaysia and become the largest foreign buyers of property and real estate in Singapore. Their purchasing value for the first half of 2011 is about 32% of the total number of foreign property buyers, which is far higher than the 8% in 2007.