{"id":101984,"date":"2018-12-04T09:53:07","date_gmt":"2018-12-04T02:53:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/condo-purchases-by-foreigners-fell-sharply-in-q3\/"},"modified":"2018-12-04T10:07:50","modified_gmt":"2018-12-04T03:07:50","slug":"condo-purchases-by-foreigners-fell-sharply-in-q3","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/condo-purchases-by-foreigners-fell-sharply-in-q3\/","title":{"rendered":"Condo purchases by foreigners fell sharply in Q3"},"content":{"rendered":"


\nAerial view of luxury apartments in Singapore.
\nHome purchases by foreigners here have fallen significantly after the government imposed a new round of property cooling measures on 6 July 2018, reported Singapore Business Review, citing a chart from Edmund Tie & Company (ET&Co).
\nAmongst the major groups of foreign buyers that account for a large chunk of residential transactions in the city-state, Indian nationals were the most affected. In fact, the number of condo units bought by this group plunged by 49.2 percent to 61 units in Q3 2018 from the previous quarter.
\nMore: Cooling Measures Dampened Buying Sentiment In Q3: Report
\nFor mainland Chinese, the volume of condo purchases declined 37.6 percent to 291 units, while that for Malaysians dropped 28.1 percent quarter-on-quarter to 197 units.
\nAside from that, ET&Co noted that the new curbs have made foreigners more price-conscious when buying a residential property in Singapore.
\nThis is because the percentage of homes priced under $1.5 million that were purchased by Indian nationals rose from 62.8 percent in Q2 2018 to 70.5 percent in the quarter under review, while that for Malaysians rose from 72.8 percent to 81.7 percent.
\nNonetheless, the property consultancy believes that Singapore continues to be on the radar of foreign buyers.
\n\u201cDespite the curbs by the government, the local residential market remains attractive to foreigners as Singapore continues to be a gateway to the ASEAN region, attracting foreign companies to relocate or set up their operations here.\u201d
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Condo purchases by foreigners fell sharply in Q3<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of luxury apartments in Singapore. Home purchases by foreigners here have fallen significantly...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-101984","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qwU","jetpack-related-posts":[{"id":101542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-condo-prices-hit-record-high-in-q3\/","url_meta":{"origin":101984,"position":0},"title":"Luxury condo prices hit record high in Q3","date":"November 22, 2018","format":false,"excerpt":"\r View of luxury apartments in Singapore. The average price of resale luxury condos in Singapore reached a new record high of $2,063 psf in Q3 2018, likewise for new sales of high-end condos at $2,819 psf, according to a new report from OrangeTee & Tie. The most expensive luxury\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101756,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cooling-measures-dampened-buying-sentiment-in-q3-report\/","url_meta":{"origin":101984,"position":1},"title":"Cooling measures dampened buying sentiment in Q3: report","date":"November 28, 2018","format":false,"excerpt":"\r En bloc sales in Singapore have come to a halt while residential sales have also suffered. The government\u2019s latest round of property cooling measures dampened buying sentiment in the private residential market during the third quarter of 2018, said Edmund Tie & Company (ET&Co) in a report. This comes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112378,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condominium-sales-rose-49-2-qoq-in-q3-2019\/","url_meta":{"origin":101984,"position":2},"title":"New condominium sales rose 49.2% QoQ in Q3 2019","date":"November 15, 2019","format":false,"excerpt":"\r Despite a dip in new project launches, more units put up for sale compared to Q3 2018.\u00a0 New condominium sales grew 49.2% quarter-on-quarter (QoQ) or 16.9% year-on-year (YoY) to 3,198 units, compared to 2,736 units in Q3 2018, reported Singapore Business Review citing a Edmund Tie report. This figure\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113626,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-buyers-show-resilience-in-the-luxury-condo-market\/","url_meta":{"origin":101984,"position":3},"title":"Foreign buyers show resilience in the luxury condo market","date":"January 15, 2020","format":false,"excerpt":"\r While the cooling measures in 2018 have dampened demand for residential properties, foreigners who bought top-end condos are showing more resilience.\u00a0 The cooling measures implemented in July 2018 may have lowered general home-buying demand, but foreigners appear to have been more resilient towards high-end condos, reported The Business Times,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110617,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condo-sales-jumped-30-6-in-q2\/","url_meta":{"origin":101984,"position":4},"title":"New condo sales jumped 30.6% in Q2","date":"September 10, 2019","format":false,"excerpt":"\r While the number of new project launches more than doubled in Q2 to 16 from six in the previous quarter, the number of units from projects were significantly lower at around 2,700 units compared to the over 4,900 units from Q1. 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