Foreign Investors Are Returning To Singapore Property Market.

Foreign investors are returning to Singapore property market. The number of foreign purchases in the 2nd quarter 2012 in percentage terms has jumped quite significantly.

Singapore (I-Newswire) September 8, 2012 - Foreign investors and buyers are returning to invest in Singapore property market. Foreign buyers are feeling less of the negative effect from the sudden cooling measures implemented by the government. And with developers offering irresistible incentives and promotions, the deals available are now sweeter than ever.

Foreign buyers who are not permanent residents of Singapore, bought up to 7 per cent of private homes in the 2nd quarter of 2012. In absolute terms, foreign purchases soared 73 per cent in the second quarter. City centre and city fringe homes remain the favorites among the foreign buyers.

Many of the foreign buyers were initially taken aback by the additional buyer’s stamp duty (ABSD) of 10 per cent slapped on the foreigners in December last year. This surprise cooling measure by the government has taken the market by surprise. But since then, buyers have come to a rational acceptance and developers have been more aggressive since, by offering incentives such as stamp duty reimbursements, rental guarantees and furniture vouchers.

Malaysian buyers are now the top foreign buyers of Singapore property with a 27 per cent market share of all foreign purchases. They are followed by Chinese buyers from China making up 19 per cent of the market. There are also more purchases made by buyers from US, Japan and the Philippines. Because of existing free trade agreements between Singapore and a few other countries, the additional buyer stamp duty does not apply to buyers from America, Switzerland, Liechtenstein, Norway and Iceland.

Foreign buyers who are interested to invest in Singapore may want to study the new Thomson MRT line. This new subway line will connect the north south corridor of Singapore and offers many new investment properties along the line.

Investors looking at other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.