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Felix Widmer Premium Member Group moderatorThe company name is only visible to registered members.Indonesians Buying Up Most Expensive Homes in Singapore
Some interesting facts & figures...
Indonesian’s are buying the most expensive homes in Singapore, according to local data.
Alan Cheong, director of research and consultancy at consultancy Savills Singapore, noted that although the Chinese were the top buyers, Indonesians had the largest budgets and dominated city-center deals.
“About 79 percent of their total purchases were above $1 million, indicating that Indonesian buyers were relatively less active in purchasing small-format or ‘Mickey Mouse’ homes, which are typically priced below $1 million,” Cheong said.
The Indonesian glut is part of a wave of foreign housing purchases. Non-Singaporeans snapped up about 9,300 private homes last year in Singapore, making it a record one-third of total sales, as factors such as low interest rates and robust economic fundamentals ignited the property market.
It also showed that Chinese buyers were behind 28 percent of all foreign purchases, with Malaysians next at 20 percent, Indonesians at 18 percent, and Indians at 12 percent.
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Source: Jakarta Globe.
http://bit.ly/wTEz9P
- 09 Feb 2012, 5:15 pm
