Monday, January 21, 2013

Property: Cool here, hot elsewhere?

The New Paper
January 21, 2013 - 1:15am

The Government’s latest moves to cool property prices are driving investors to find homes away from home.

Ever since the new measures on Jan 11, marketing agents told The New Paper that Singaporeans are turning their attention to the overseas property pie, including Australia, Britain and across the Causeway.

“We saw a 30 per cent increase in attendance the weekend after the cooling measures were announced and we saw a corresponding 30 per cent increase in sales,” said Reapfield Property Consultants’ executive director Peter Thng.

Mr Thng said Reapfield sold 16 Melbourne homes on Jan 12 and 13, and 10 in Brisbane on Saturday.

In Malaysia, the Iskandar development region in Johor has seen increased interest from Singaporeans and foreigners working in the Republic.

Developers there said sales of property were up by 20 per cent the weekend after the cooling measures, according to Malaysian Chinese paper China Press on Friday.

But property consultants and an economist The New Paper spoke to disagreed that the cooling measures had prompted Singaporeans to buy elsewhere.

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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