Another policy detrimental to native Singaporeans: allowing foreigners to buy properties with ease.
Come 2016, this will snowball into pro-opposition votes.
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http://www.propertyguru.com.sg/prop...e-foreigners-buying-pricey-homes-in-singapore
More foreigners buying pricey homes in Singapore
May 25, 2011 - PropertyGuru.com.sg
The ratio of private homes acquired by foreigners climbed to 16 percent in Q1 2011, the highest quarterly percentage ever recorded since Q1 1995.
According to DTZ, foreigners accounted for 13 percent of all private home purchases in Q4 2010. It added that more foreigners purchased high-end homes in Q1 2011.
For homes costing S$1.5 million and above, the proportion of purchases by foreigners grew to 21 percent, an increase from 17 percent in Q4 2010.
On the other hand, more Singaporeans purchased homes for under S$500,000. DTZ noted that Singaporeans accounted for 80 percent of acquisitions below S$500,000 in the first quarter, an increase from 72 percent in Q4 2010.
“This reflects the smaller budget among Singaporean buyers,” said Chua Chor Hoon, DTZ’s Southeast Asia Research Head.
Wendy Tang, Knight Frank’s Director of Residential Services, revealed that the proportion of permanent residents (PRs) and foreigners who acquired units in new launches by Knight Frank increased to 31 percent in Q1 2011, up from 20 to 25 percent in the earlier quarters.
DTZ also revealed that the percentage of mainland Chinese (both PRs and foreigners) among non-Singaporean buyers hit a new high of 24 percent in the first quarter of this year.
Mainland Chinese outranked the Malaysians, whose number slipped to 21 percent in Q1 2011, from 24 percent in Q4 2010.
To contact the journalist, you may send your message to [email protected]
Come 2016, this will snowball into pro-opposition votes.
============================================
http://www.propertyguru.com.sg/prop...e-foreigners-buying-pricey-homes-in-singapore
More foreigners buying pricey homes in Singapore
May 25, 2011 - PropertyGuru.com.sg
The ratio of private homes acquired by foreigners climbed to 16 percent in Q1 2011, the highest quarterly percentage ever recorded since Q1 1995.
According to DTZ, foreigners accounted for 13 percent of all private home purchases in Q4 2010. It added that more foreigners purchased high-end homes in Q1 2011.
For homes costing S$1.5 million and above, the proportion of purchases by foreigners grew to 21 percent, an increase from 17 percent in Q4 2010.
On the other hand, more Singaporeans purchased homes for under S$500,000. DTZ noted that Singaporeans accounted for 80 percent of acquisitions below S$500,000 in the first quarter, an increase from 72 percent in Q4 2010.
“This reflects the smaller budget among Singaporean buyers,” said Chua Chor Hoon, DTZ’s Southeast Asia Research Head.
Wendy Tang, Knight Frank’s Director of Residential Services, revealed that the proportion of permanent residents (PRs) and foreigners who acquired units in new launches by Knight Frank increased to 31 percent in Q1 2011, up from 20 to 25 percent in the earlier quarters.
DTZ also revealed that the percentage of mainland Chinese (both PRs and foreigners) among non-Singaporean buyers hit a new high of 24 percent in the first quarter of this year.
Mainland Chinese outranked the Malaysians, whose number slipped to 21 percent in Q1 2011, from 24 percent in Q4 2010.
To contact the journalist, you may send your message to [email protected]
