{"id":83825,"date":"2018-03-27T12:10:15","date_gmt":"2018-03-27T05:10:15","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-demand-returning-to-singapore-property\/"},"modified":"2018-03-27T13:03:05","modified_gmt":"2018-03-27T06:03:05","slug":"foreign-demand-returning-to-singapore-property","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-demand-returning-to-singapore-property\/","title":{"rendered":"Foreign demand returning to Singapore property"},"content":{"rendered":"


\nAerial view of luxury properties in Keppel Bay.
\nThe 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 Equity Research.
\nThis comes as the city-state is considered more attractive than other global markets, said Ong Teck Hui, national director, research at JLL.
\nMore: New Futura condo sells 18 units at average price of $3,200 psf
\n\u201cThe Singapore private residential market is in the early stages of recovery, promising a longer run in price upside. Melbourne, Sydney, Hong Kong and Tokyo are at the upper end or near the peak of their market cycles, whilst the prime London market is in decline,\u201d he said.
\nCushman and Wakefield research director Christine Li sees the increase in foreign demand within the luxury segment.
\nShe noted that while the increase in high-end sales volumes was mostly attributed to Singaporean demand, the number of foreign buyers has also increased. In fact, purchases by foreign buyers rose 63 percent to 900 units last year, from 553 units in 2016.
\nAnecdotally, some foreigners opt to secure permanent resident status first prior to acquiring a property to qualify for a lower Additional Buyer\u2019s Stamp Duty rate, she said.
\nWith the private housing market on the cusp of recovery, Li believes the luxury segment offers an attractive value proposition since prices of similar high-end condos in overseas markets such as New York and Hong Kong haven\u2019t softened.
\n\u201cAs such, we expect foreign demand to continue to rise in 2018, as foreigners look for safe havens to preserve their wealth amidst (the) uncertain global economic climate,\u201d said Li.
\nCheck out luxury condominiums for sale in Singapore.
\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 returning to Singapore property<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of luxury properties in Keppel Bay. The surprisingly strong sales momentum witnessed at...<\/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-83825","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-lO1","jetpack-related-posts":[{"id":88417,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/healthy-sales-at-cdls-new-futura-thanks-to-foreign-buyers\/","url_meta":{"origin":83825,"position":0},"title":"Healthy sales at CDL\u2019s New Futura thanks to foreign buyers","date":"May 16, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the penthouse pool at New Futura. (Photo: CDL) Property giant City Developments Limited (CDL) announced on Tuesday (15 May) that it sold a total of 83 units at New Futura, a 124-unit luxury freehold project at Leonie Hill Road in prime District 9. To date, 97\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95781,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdls-net-profit-up-79-5-in-q2\/","url_meta":{"origin":83825,"position":1},"title":"CDL\u2019s net profit up 79.5% in Q2","date":"August 10, 2018","format":false,"excerpt":"\r CDL\u2019s strong performance was helped by its residential projects in Singapore, such as the high-end New Futura condominium. City Developments Limited\u2019s (CDL) net profit for the second quarter of 2018 soared 79.5 percent year-on-year to $204.8 million, while revenue jumped 59.2 percent year-on-year to $1.36 billion on the back\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/orchard-condo-sets-record-psf-prices\/","url_meta":{"origin":83825,"position":2},"title":"Orchard condo sets record psf prices","date":"March 13, 2018","format":false,"excerpt":"\r CDL\u2019s New Futura condo sold 48 units at an average price of over $3,200 psf. Most of the released units in CDL\u2019s recently launched New Futura project have been sold at an average price of $3,200 psf \u2013 the highest in five years, reported Singapore Business Review. The selling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77626,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-futura-condo-sells-18-units-at-average-price-of-3200-psf\/","url_meta":{"origin":83825,"position":3},"title":"New Futura condo sells 18 units at average price of $3,200 psf","date":"January 22, 2018","format":false,"excerpt":"\r 18 of the 25 units released for sale were sold at an average price of $3,200 psf. New Futura, City Development Limited\u2019s (CDL) luxury condominium project at Leonie Hill Road, received positive response from buyers, with 18 units sold at an average price of $3,200 psf during its first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91224,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/increased-activity-in-luxury-condo-market\/","url_meta":{"origin":83825,"position":4},"title":"Increased activity in luxury condo market","date":"June 12, 2018","format":false,"excerpt":"\r View of luxury apartments in Singapore. The luxury private condominium segment has sprung back to life over the past few months, with the price quantum almost hitting a nine-year high when a total of 22 units were snapped up for at least $10 million each during the first quarter,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77938,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-january-2018\/","url_meta":{"origin":83825,"position":5},"title":"News Roundup (January 2018)","date":"January 25, 2018","format":false,"excerpt":"\r Our top Singapore property stories. Report:\u00a0Average home prices\u00a0could rise by 17% over 2018-2021\u00a0 The prospects for the Singapore property market are bright, with investment volumes to remain strong and home prices forecast to rise, revealed a 2018 Asia Pacific Property Outlook report released by Colliers International recently.\u00a0\u00a0 On the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/01\/New-Futura-resized-816x1024.jpg?fit=816%2C1024&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/83825"}],"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=83825"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/83825\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=83825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=83825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=83825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}