Feb 14, 2013 – Singapore Business Review
And 2013 won't be any better.
According to UOB Kay Hian, foreign buying activity remains weak. Buying activity by foreigners slowed down considerably to 7% in 2012 compared with 16% in the previous year due to a combination of a slowdown in the global macroeconomic environment and the introduction of ABSD in Singapore.
"In 2013, we expect foreign buying activity to remain at the current low levels (7%) as the imposition of higher ABSD (15%), a sluggish macro environment and tightening immigration policy will continue to weigh on foreign buying sentiments," UOB Kay Hian said.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)