Foreigners target Singapore homes

Foreigners target Singapore homes

SINGAPORE: Foreigners accelerated their Singapore home buying spree in the first quarter with Indonesians and Malaysians still occupying the top two spots respectively, DTZ Research data showed on Friday.

Citizens from the United Kingdom and India also emerged as a major buying force, overtaking those from China.

Foreigners lodged 17.2 percent more caveats for private homes during the first three months than they did in the previous quarter, after two consecutive quarters of declines.

Caveats are claims lodged on a property.

The breakdown published in The Business Times revealed Indonesians bought 106 private homes, or 22 percent of the 483 units taken up by foreigners.

Malaysians purchased 89 units or 18.4 percent. Buyers from the UK purchased 61 units and those from India 50. In fifth place were Chinese, followed by Australians. -- DPA