{"id":118465,"date":"2020-09-02T11:05:50","date_gmt":"2020-09-02T04:05:50","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreigners-continue-to-actively-participate-in-singapores-housing-market-knight-frank\/"},"modified":"2020-09-03T20:04:21","modified_gmt":"2020-09-03T13:04:21","slug":"foreigners-continue-to-actively-participate-in-singapores-housing-market-knight-frank","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreigners-continue-to-actively-participate-in-singapores-housing-market-knight-frank\/","title":{"rendered":"Foreigners continue to actively participate in Singapore\u2019s housing market, Knight Frank"},"content":{"rendered":"


\nIn Q2 2020, foreign homebuyers\u00a0\u00a0\u2013 which comprised both Singapore permanent residents and foreigners\u00a0\u00a0\u2013 accounted for 18.3% of acquisitions, a slight drop from the 20.2% recorded in Q1 2020.\u00a0
\nDespite the economic impacts of COVID-19 and the circuit breaker measures from 7 April to 1 June 2020\u00a0\u00a0\u2013 which disallowed home viewings and resulted in the closure of showflats\u00a0\u2013 the Singapore private property market has remained surprisingly resilient.
\nThere were 3,862 primary sales and 3,071 secondary sales in the first six months of 2020, and property prices fell by a slight 0.7% in the first six months of 2020. The strength of the market was also evident as the URA Private Residential Price Index rose by 0.3% in Q2 2020.
\nWhile most of this year\u2019s homebuyers were Singaporeans, foreigners were also seen actively participating in the market, with their proportion of involvement fairly similar to that seen in 2019 \u2013 an ordinary year not afflicted by an economic crisis or the COVID-19 pandemic.
\nIn Q2 2020, foreign homebuyers\u00a0\u00a0\u2013 which comprised both Singapore permanent residents and foreigners \u00a0\u2013 accounted for 18.3% of acquisitions, a slight drop from the 20.2% recorded in Q1 2020. This is despite when cross-border travel is not allowed.\u00a0
\n\u201cTaking into consideration that the proportion of foreign homebuyers made up 19.9% of all private home sales in all of 2019, Q2 2020\u2019s 18.3% is also not too far off when compared to a year where market conditions were considered normal,\u201d said Leonard Tay, Head of Research at Knight Frank Singapore.
\nFrom January to about mid-August 2020, URA Realis data showed that unspecified foreign nationalities made up 6.4% of all private residential transactions (as of 18 August 2020).
\nIt was followed by buyers from China at 4.5% and Malaysia at 2.1%. Buyers from India, Indonesia and the USA accounted for 1.8%, 0.9% and 0.7%, respectively, of all private residential transactions.
\nCredit: Knight Frank
\nAlthough the number of transactions by foreign buyers dropped in April and May, sales volume \u201cpicked up from June onwards due to pent-up demand despite most travel restrictions still being in place\u201d, noted Tay.
\nSuggested read:\u00a0PropertyGuru Singapore Property Market Index Report Q3 2020
\nTo-date, half of the units bought by non-Singaporean buyers this year were completed units, and the other half were uncompleted units.
\n\u201cWithin the top five identified nationalities from China, India, Malaysia, Indonesia and the USA, some 75% preferred completed units,\u201d said Tay.
\n\u201cThese buyers of completed units likely hold the traditional view that Singapore provides a safe haven for foreign investment with stable recurring income even in times of crisis.\u201d
\nSingapore\u2019s private homes saw overall occupancy rate held steady at 94.6% during the first six months of 2020, a time of pandemic-led economic recession.
\nAnd despite the growing recessionary pressures, foreigners also snapped homes within the higher price brackets.
\nIn fact, 30 buyers from China purchased homes at above $5 million, while buyers from Indonesia and USA accounted for 15 and seven units, respectively.
\nGenerally, homebuyers from China \u201cpreferred locations in postal Districts 1 (Raffles Place, Cecil, Marina, People\u2019s Park), 9 (Orchard, Cairnhill, River Valley) and 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) for centrally located homes, while they looked to Districts 18 (Tampines, Pasir Ris) and 19 (Serangoon Gardens, Hougang, Ponggol) for suburban units\u201d.
\n\u201cBuyers from India bought a larger proportion in the East and North-East of the island, from District 18 as well as Districts 15 (Marine Parade, Katong, Joo Chiat, Amber Road) and 19.\u201d
\nBuyers from Indonesia, on the other hand, preferred properties in prime Districts 9 and 10.
\nFor the rest of 2020 and next year, Tay expects foreigners \u201cto continue to constitute a support level of around 18% to 20% of private homebuyers in Singapore.
\n\u201cThis might even increase moderately as travel restrictions are lifted over time,\u201d he added.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Foreigners continue to actively participate in Singapore\u2019s housing market, Knight Frank<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In Q2 2020, foreign homebuyers\u00a0\u00a0\u2013 which comprised both Singapore permanent residents and foreigners\u00a0\u00a0\u2013 accounted for...<\/p>\n","protected":false},"author":1,"featured_media":118466,"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-118465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2020\/09\/foreign-buyers-nationalities-knight-frank.png?fit=600%2C365&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uOJ","jetpack-related-posts":[{"id":110995,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreigners-buy-249-condominium-units-in-q2-2019\/","url_meta":{"origin":118465,"position":0},"title":"Foreigners buy 249 condominium units in Q2 2019","date":"September 23, 2019","format":false,"excerpt":"\r This is the first quarterly increase seen since the\u00a0cooling measures\u00a0back in July 2018.\u00a0 The share of foreigners who purchased non-landed residential properties in the second quarter of this year grew to 249 units or 5.9 percent of the total transactions, reported Singapore Business Review citing OrangeTee & Tie. 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