Interest in S'pore property declines

Interest in S'pore property declines

Singapore: The proportion of foreigners who own properties in Singapore's prime districts has fallen overall, but Indonesians and Chinese are still actively buying, analysts said in a published report on Tuesday.

In 1996, foreigners owned as many as four in 10 properties, or 40 per cent, in the prime real estate districts. Eight years later, the figure has dropped to about 25 percent to 30 percent.

Indonesians accounted for nearly 30 percent of the main players at the peak of the market in 1996, consultants said. -- DPA