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Malaysians top foreign private-property buyers here

Asia One
Malaysians top foreign private-property buyers here - Malaysia - property buyer


Malaysians have replaced the Chinese as the largest group of foreign private-property buyers in Singapore, the latest data showed as foreign home purchases saw a strong 73 per cent rebound of 611 units in the second quarter of this year from the previous quarter.



However, a report released by property firm DTZ yesterday said the number of transactions is still at a low, due to the imposition of the 10 per cent additional buyer's stamp duty (ABSD) by the Government.

Foreign buying made up only about 7 per cent of the total private sales in the second quarter, up slightly from 5 per cent recorded in the first three months of this year.

Malaysians made up 27 per cent of the total number of foreign buyers in the second quarter, purchasing 520 units.

The number of transactions by Malaysian buyers rose by about 30 per cent quarter-on-quarter.

Home purchases by Chinese buyers, comparatively, rose by only 18 per cent to 369 units. The proportion of Chinese buyers also fell for a second consecutive quarter to make up just 19 per cent of the total number of foreign buyers - the lowest since the third quarter of 2010.


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