Renewed interest in Singapore properties from Mainland Chinese buyers is also likely.
Maybank Kim Eng noted:
Singapore remains a choice locale for property investments, especially when the Singapore dollar looks set to remain strong, the political situation stable and prices are still relatively attractive compared with Hong Kong, where prices at The Peak average around SGD5,000-6,000 psf.
Furthermore, Singapore is one of the few places in the region where one can invest directly in high-quality freehold non-landed luxury property.
This has been echoed by a recent survey conducted by the American Chamber of Commerce in Singapore and the US Chamber of Commerce, where 356 top executives from US companies in ASEAN countries were polled.
In summary, 75% of the respondents expressed their wish to extend their tenure in Singapore, citing personal security, Singapore’s infrastructure, stable government and attractive tax framework as the main attractions.
In addition, 75% of US companies stated that they regularly receive staff requests to relocate to Singapore on an employment pass, up from 60% in 2011.
Mainland Chinese buyers had accounted for as much as 11% of the transactions in the Core Central Region (CCR) before the introduction of the ABSD, after which it declined to about 4% in 2Q12.
With Hong Kong seemingly trying to limit foreign home ownership particularly from Mainland China, we see the possibility of renewed interest in Singapore properties from Mainland Chinese buyers.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
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