Friday, April 20, 2012

Home sales to foreigners dive 78 per cent

Straits Times: Fri, Apr 20
HOME purchases by foreigners plummeted 78 per cent in the first quarter as the effects of the 10 per cent additional buyer's stamp duty hit hard.

Most foreigners have retreated hastily from the market, buying just 293 homes in the first three months of the year, an analysis of caveats by Dennis Wee Group (DWG) found.

This is 78 per cent down from the 1,358 homes bought by foreigners in the fourth quarter.

Permanent residents (PRs) are not included as foreigners in these figures.

Among PRs, home purchases dipped just 7.5 per cent to 790 units, while Singaporean purchases fell 12 per cent...

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