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