{"id":120165,"date":"2021-02-04T01:57:47","date_gmt":"2021-02-03T18:57:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-purchases-by-foreigners-picked-up-following-circuit-breaker\/"},"modified":"2021-02-04T11:41:51","modified_gmt":"2021-02-04T04:41:51","slug":"private-home-purchases-by-foreigners-picked-up-following-circuit-breaker","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-purchases-by-foreigners-picked-up-following-circuit-breaker\/","title":{"rendered":"Private home purchases by foreigners picked up following circuit breaker"},"content":{"rendered":"


\nThe figures rebounded to 69 units in June 2020 as\u00a0Singapore\u00a0emerged from the circuit breaker, before peaking at 81 units in August.
\nDespite travel curbs remaining in place, the number of private homes acquired by foreigners picked up following last year\u2019s circuit breaker, reported The Business Times (BT).
\nData collated by NUS\u2019 Institute of Real Estate and Urban Studies (IREUS) showed that purchases by non-permanent residents (NPRs) fell to 23 units and 22 units in April and May 2020, respectively. Compared to a year ago, transactions had dropped from 94 and 84 units in April and May 2019, respectively.
\nThe figures rebounded to 69 units in June 2020 as the city-state emerge from the circuit breaker, before peaking at 81 units in August. Private home purchases by NPRs then averaged 64 units in October and November.
\nRecommended article:\u00a0These Districts Had The Highest Price Declines Last Quarter, But Which Condos Had The Best Prices?
\nThe improvement in transactions came even as travel curbs continued to be enforced on a wide scale, said BT.
\nAnd while they remain down on a year-on-year basis, the transactions marked a significant increase from the figures posted in April and May during the enforcement of the circuit breaker measures.
\nData showed that NPRs favoured properties located within prime districts 9 and 10. Between June and December 2020, NPRs acquired 71 units in District 9 and 66 units in District 10.
\nNPRs were also attracted to properties in districts 3 and 5, where they snapped 42 and 44 units, respectively.
\nChinese buyers accounted for the bulk of acquisitions by NPRs, clinching 142 units between June and December 2020. Americans came in second, purchasing 75 units. There were also 174 private home buyers whose nationality was unspecified.
\nSuggested read:\u00a0Expat Guide: Buying and Financing A Home As A Foreigner in Singapore
\nIREUS Deputy Director Lee Nai Jia attributed the rebound in NPR transactions to several reasons.
\nAccording to him, the buyers may have seen the properties before the implementation of travel restrictions, but the circuit breaker delayed the transaction process. They may have also leveraged on virtual viewings or made the transaction via Singapore-based proxies, he added.
\nLooking ahead, Lee believes \u201cthe relaxation of some restrictions under Phase 3 and the commencement of the vaccination programme is likely to spur further confidence in the Singapore market among NPR buyers\u201d.
\n\u201c(Barring) external shocks or policy intervention, we expect more NPR buyers to enter the market as the travelling restrictions are lifted or a travel bubble is established between Singapore and other countries, especially China, Malaysia, Indonesia and India,\u201d he said as quoted by BT.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home purchases by foreigners picked up following circuit breaker<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The figures rebounded to 69 units in June 2020 as\u00a0Singapore\u00a0emerged from the circuit breaker, before...<\/p>\n","protected":false},"author":1,"featured_media":120166,"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-120165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/Reflections-at-Night.png?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vg9","jetpack-related-posts":[{"id":117166,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-homes-sales-spiked-75-5-in-may\/","url_meta":{"origin":120165,"position":0},"title":"New private homes sales spiked 75.5% in May","date":"June 16, 2020","format":false,"excerpt":"\r Including ECs, 509 units were sold in May, up 73.7% month-on-month but down 46.5% year-on-year. 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