The Malaysians and mainland Chinese buyers are back with a vengeance!

By The Folks @PropTalk - August 19, 2015 No Comments

My Paper had reported today that political and economic uncertainty at home are likely behind the increase in the number of Malaysians and mainland Chinese who bought property in Singapore in the second quarter.

Malaysian snapped up 248 private units, 53% more than in the first three months of the year, while 234 homes were purchased by buyers from China, up 37%. This is according to real estate services firm DTZ.

Buyers from Malaysia and China had accounted for almost half of the 1,017 purchases made by non-Singaporeans in the second quarter. This total was 60% more than in the first quarter, but below the 1,298 units sold to foreigners in the same quarter last year.

DTZ's report also showed that Singaporeans had accounted for about 77% of private home purchases in the second quarter, unchanged from the same quarter in 2013, before tougher mortgage curbs were implemented. There were 3,867 units sold in the second quarter, compared with 2,141 in the first. Of these, 2,855 were bought by Singaporeans, compared with 1,564 in the previous three months.

What the wife and I find rather amusing after reading the report is that while Singaporeans are still crossing the causeway in droves to buy private homes in Iskandar and such, our (smarter) Malaysian counterparts are all moving in the opposite direction...

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