Indians buying more Singapore condos

Indians buying more Singapore condos

SINGAPORE: Indian nationals are buying more apartments and condominiums in Singapore, but the majority of foreign buyers still come from Indonesia and Malaysia, a property consultancy said Tuesday.

Purchasers from Indonesia emerged atop the Jones Lang LaSalle list, comprising 24 percent of the total foreign purchases in the first nine months of this year. Those from Malaysia accounted for 22 percent.

The third-largest group of foreign buyers came from China with 9 percent of the foreign purchases from January to September. Combined with buyers from Hong Kong, they made up 12 percent of the overseas purchases.

Indian buyers' purchases rose to 8 percent in the first nine months of the year, up from 5 percent in 2004. -- DPA