{"id":64954,"date":"2017-08-30T10:49:09","date_gmt":"2017-08-30T03:49:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-demand-muted-due-to-strict-stamp-duty-strong-sing-dollar\/"},"modified":"2017-08-30T10:51:59","modified_gmt":"2017-08-30T03:51:59","slug":"foreign-demand-muted-due-to-strict-stamp-duty-strong-sing-dollar","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-demand-muted-due-to-strict-stamp-duty-strong-sing-dollar\/","title":{"rendered":"Foreign demand muted due to strict stamp duty, strong Sing dollar"},"content":{"rendered":"


\nThe proportion of foreign property buyers in Singapore remains low, data shows.
\nWith the Additional Buyer\u2019s Stamp Duty (ABSD) and strengthening Singapore dollar, foreign demand for homes in Singapore remained muted even as private home sales soared 50 percent year-on-year during the first seven months of 2017, reported TODAYonline.
\nData from Cushman & Wakefield showed that the proportion of foreign buyers dropped to a four-year low last year and remains at that level.
\nSEE ALSO: Surging developer sales point to further property market recovery
\nIn H1 2017, just six percent of total purchases came from foreign buyers, down from nine percent in 2013, when house prices started to fall following the introduction of the Total Debt Servicing Ratio (TDSR) framework.
\nChinese nationals emerged as the biggest group of foreign buyers, accounting for 29 percent \u2013 unchanged from four years earlier, revealed Cushman & Wakefield data.
\nThe proportion of Malaysian buyers, however, slipped from 26 percent to 21 percent, while the proportion of Indonesian buyers fell from 17 percent to six percent.
\n\u201cAlthough Chinese buying is steady, overall foreign buying is on a decline for several reasons. While the stringent stamp duty is certainly one of the key entry barriers, for Malaysian and Indonesian investors, a stronger Singapore dollar makes property a bit expensive here,\u201d said Desmond Sim, research head at CBRE Singapore and South East Asia.
\nCushman & Wakefield Singapore research director Christine Li believes that it will take some time for traditional buyers like \u201cMalaysians and Indonesians to come back given the depreciation of their home currencies\u201d.
\n\u201cGoing forward, Chinese buyers will be more inclined to buy in other markets such as Hong Kong and Australia because these markets allow PR status to foreign residents after they have lived in the country for a certain period,\u201d she noted.
\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…Foreign demand muted due to strict stamp duty, strong Sing dollar<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The proportion of foreign property buyers in Singapore remains low, data shows. With the Additional...<\/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-64954","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-gTE","jetpack-related-posts":[{"id":32797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-prices-see-marginal-rise-in-q3\/","url_meta":{"origin":64954,"position":0},"title":"Luxury home prices see marginal rise in Q3","date":"November 3, 2016","format":false,"excerpt":"\r Luxury homes here have seen only minimal price growth in the last quarter. Singapore\u2019s luxury home prices grew by only 0.5 percent quarter-on-quarter in Q3 2016, according to a JLL report. The city-state joins 17 other cities tracked by JLL, which saw their rate of price growth decline from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96129,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-to-fall-by-up-to-15-on-property-curbs-propnex\/","url_meta":{"origin":64954,"position":1},"title":"Home prices to fall by up to 15% on property curbs: PropNex","date":"August 16, 2018","format":false,"excerpt":"\r The drop in home prices in Singapore could appeal to home buyers. With the new property cooling measures, PropNex Realty expects private home prices in Singapore to drop by 10 to 15 percent \u2013 which could appeal to first-time home buyers irrespective of the five percentage point reduction in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138355,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-sales-hit-6-month-low-on-limited-supply-while-levies-almost-kill-off-foreign-demand\/","url_meta":{"origin":64954,"position":2},"title":"Singapore home sales hit 6-month low on limited supply, while levies \u2018almost kill off foreign demand\u2019","date":"July 17, 2023","format":false,"excerpt":"\r Sale of privately built homes fell to 278 units in June, the lowest since 170 homes were sold last December, after the government recently doubled stamp duties for foreign buyers to 60 per cent and increased levies for second-home buyers.\r \r Source : South China Morning Post\r Read more...Singapore\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83825,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-demand-returning-to-singapore-property\/","url_meta":{"origin":64954,"position":3},"title":"Foreign demand returning to Singapore property","date":"March 27, 2018","format":false,"excerpt":"\r Aerial view of luxury properties in Keppel Bay. The surprisingly strong sales momentum witnessed at the recent launch of New Futura, in which foreigners accounted for close to 60 percent of the 48 units sold, indicates that foreign demand is returning to Singapore, reported Singapore Business Review citing DBS\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41178,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-loss-in-overseas-buyers-may-be-singapores-gain\/","url_meta":{"origin":64954,"position":4},"title":"Hong Kong\u2019s loss in overseas buyers may be Singapore\u2019s gain","date":"January 19, 2017","format":false,"excerpt":"\r The rival financial hubs will slug it out for overseas buyers Singapore CBD. anekoho\/Shutterstock Hong Kong\u2019s decision to impose a stamp duty on foreign home buyers could push away those investors into the sagging, cheaper property market in\u00a0Singapore, according to analysts at Cushman & Wakefield Inc. \u201cThe fallout from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66800,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/analysts-home-prices-to-rise-10-next-year\/","url_meta":{"origin":64954,"position":5},"title":"Analysts: Home prices to rise 10% next year","date":"September 19, 2017","format":false,"excerpt":"\r More redevelopment deals and increased foreign buying interest is expected to drive demand for Singapore homes. Fuelled by redevelopment deals and an increase in foreign buying, UOB Kay Hian expects home prices in Singapore to bottom out this year and climb by five to 10 percent in 2018, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/64954"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=64954"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/64954\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=64954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=64954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=64954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}