More PR buyers flooding into private property market

[Wunderkind]

Propertyguru reported that a recent Knight Frank analysis of caveats lodged as at 30 Sep 2023 revealed that the proportion of foreign home buyers, including PR and non PR increased to 22.7% in Q3 this year, compared to 21.2% in the previous quarter.

Is this supporting the property market ?

[wt_know]

newly minted PR is "banned" from buying hdb for the 1st 3 years
naturally, PR will go for private properties ...

Propertyguru reported that a recent Knight Frank analysis of caveats lodged as at 30 Sep 2023 revealed that the proportion of foreign home buyers, including PR and non PR increased to 22.7% in Q3 this year, compared to 21.2% in the previous quarter.

Is this supporting the property market ?

[august]

insignificant... besides volume has dropped.

[Wunderkind]

I was surprised to see the number of Chinese visitors to Singapore.
While on a return flight from Shanghai, the flight was full. There were businessmen and families. It is obvious that Singapore is an attractive location for their business and leisure. Some may even consider investing in here.

[irisng]

Propertyguru reported that a recent Knight Frank analysis of caveats lodged as at 30 Sep 2023 revealed that the proportion of foreign home buyers, including PR and non PR increased to 22.7% in Q3 this year, compared to 21.2% in the previous quarter.

Is this supporting the property market ?

Now is only Yr 2013.

[mermaid]

soon, PRs will flood the market so much tat true blue singaporeans becomes a minority.
when I was young, sporeans r simple, contented, kind & obedient.
now singaporeans r angry, hostile & rebelious
wat a pity!

[ichigo55]

how many "empty" units are we going to see in 2015-2018?
with the population ratio at ~4.4 ... even with the pipeline increase and restricted population growth .. we could be looking at ~4.1 ... so are we oversupply or really still in undersupply phase?

[wt_know]

alan says there is no oversupply. property will hold and continue to cheong

http://www.businesstimes.com.sg/prem...ltant-20131028

how many "empty" units are we going to see in 2015-2018?
with the population ratio at ~4.4 ... even with the pipeline increase and restricted population growth .. we could be looking at ~4.1 ... so are we oversupply or really still in undersupply phase?

[GIG]

the upside potential risk is limited while the downside risk is significant.

http://www.propertyguru.com.sg/blog/...e-we-there-yet

[GIG]

Don't under estimate the efficiency and what the govt can do now.
If people think of the undersupply variable because of past experience,
It can be a mistake.
I believe that the govt has learn something.
In terms of properties, they are more focus and has planned far ahead and
Knows what and how they have to do to ensure a stable property market.
So don't expect a continuation of price overrun in property.

[Wunderkind]

Don't under estimate the efficiency and what the govt can do now.
If people think of the undersupply variable because of past experience,
It can be a mistake.
I believe that the govt has learn something.
In terms of properties, they are more focus and has planned far ahead and
Knows what and how they have to do to ensure a stable property market.
So don't expect a continuation of price overrun in property.

With all the CM and TDSR in place, it is unlikely that price will overshoot above expected inflation. On the contrary, they are more likely to bring about a correction in the property market with supply overhang in the coming years.
The purchases by foreigners are helping to sustain what is otherwise a weak market.

Albeit the govt can do to change the property market dynamics by regulating the supply so that the market does not weaken sharply in terms of steep price correction.

IMO , the underlying demand for Singapore property is still intact whether it is from Singaporeans or foreigners albeit the CMs are reining in on the buying.

[Wunderkind]

Singapore property still attractive despite latest rounds of cooling measures; 34% of foreign buyers hail from China

SINGAPORE — Mainland Chinese investors top the list of foreign buyers of private property in Singapore from January to October this year, research published yesterday (Nov 4) revealed.

According to numbers compiled by OrangeTee Research, 34 per cent of foreign property-buyers (excluding permanent residents) in Singapore this year were from China.

Buyers from China view Singapore as a favourable property investment destination despite the latest rounds of property cooling measures, such as the raising of the Additional Buyers’ Stamp Duty (ABSD).

This is the observation I made when I flew out from Shanghai back to Singapore.

There is a huge number of wealthy Chinese buyers who wouldn't think twice when it comes to buying properties in Singapore. I know some of them can even pay their property in full. Cash. They are not deterred by the 15% ABSD.

In a way, you can say it is a blessing to have the Chinese foreign buyers to prop up the otherwise moribund market. However, it is not a good thing for the economy when the market is increasingly dominated by foreigners especially by ultra-rich foreign buyers.

Perhaps, it is timely for the government to review the CMs and relax some of them especially those that impact the local buyers.