By Andrew Batt:
The introduction of Friday’s additional cooling measures appears to have done little to quell demand for overseas property investments from Singaporeans.
Developments from the United Kingdom, Australia, Malaysia and Thailand were exhibited at events in the city state last weekend, with attendance numbers reported as being “strong” by several developers and their agents who spoke to PropertyGuru.
Felix Tan currently has two investment properties in Singapore. At one of last weekend’s property exhibitions, he told PropertyGuru: “I think now’s the time for me to seriously look overseas. Singapore is not really attractive anymore (for property investments) and there are many possible risks in terms of where the market is heading.”
Tan added he was considering Malaysia as his first overseas property investment although he was also planning to research London.
Andrew Batt, International Group Editor for PropertyGuru, attends a large number of overseas property events in Singapore. He said: “It’s clear that many overseas property investments have just become even more attractive, and the evidence in terms of number of potential buyers I saw at events last weekend backs this up.”
No official data exists for the number of Singaporeans buying overseas, however PropertyGuru predicts that more than 600 transactions happened every month at property exhibitions in the city state during 2012.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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