Thursday, January 24, 2013

Locals Go Global in Light of Cooling Measures

Jan 24, 2013

Properties overseas are already attracting the attention of Singaporean buyers after the seventh round of cooling measures were announced earlier this month.

While showrooms for local condominiums reported low visitor rates last weekend, the 14 overseas property exhibitions that were open saw a marked increase in interest and sales. 

Property insiders at the exhibition of Bangkok condominium project TC Green, as well as at Fulham Riverside’s Asia Launch, noted that the introduction of the property cooling measures had encouraged Singaporeans, some of whom had never considered investing in properties overseas before, to look beyond Singapore’s shores.

Developers at a London property exhibition featuring The Arc and Watermark E14, are also expecting an increase in the number of overseas projects being handled this year.

The frontrunner of the weekend was definitely Battersea Power Station, which had the largest number of sales out of the 14 overseas exhibitors with more than 100 deals done on Saturday alone.

Singaporeans are especially attracted to new properties in London, a Knight Frank research report published last week revealed. In 2012, they accounted for 23% of all transactions.

With the bustling crowd at overseas property exhibitions over the weekend, it seems that property insiders have predicted accurately the increase in interest in overseas properties following the cooling measures.

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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