Among permanent residents (PRs) and foreigners, Indian nationals are the most prominent buyers in Singapore’s private residential resale market.
Market watchers noted that they usually acquire completed homes for immediate occupation.
However, in the new homes sales market, the mainland Chinese, Indonesians and Malaysians make up the largest portion of private home purchases, attributed to the presence of more specu-vestors and investors among them.
“Such buyers do not need a home immediately for occupation so they don’t mind buying in an uncompleted project that may take a few years to be ready,” said Chua Chor Hoon, Head of Asia-Pacific Research at DTZ.
According to DTZ’s analysis of the URA Realis caveats database, 82 percent of the 244 private homes purchased by Indian nationals in Q3 were from the resale market.
Chinese nationals acquired 654 private homes in Q3, while Malaysians snapped up 407 private homes.
In addition, DTZ’s caveats analysis also revealed that the most popular project among foreigners (excluding PRs) in Q3 was euHabitat at Jalan Eunos, closely followed by Thomson Grand and Seastrand.
For PRs, the three most in-demand projects were euHabitat, Seastrand and Woodhaven.
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