Connect with us

Asean

Chinese top foreign buyers in Singapore

Strong demand from mainland Chinese buyers helped Singapore private home prices edge higher in the first quarter of 2011, despite government efforts to cool the market, property consultants Jones Lang LaSalle (JLL) said on Wednesday.

Boris Sullivan

Published

on

Singapore property market

Strong demand from mainland Chinese buyers helped Singapore private home prices edge higher in the first quarter of 2011, despite government efforts to cool the market, property consultants Jones Lang LaSalle (JLL) said on Wednesday.
The average value of non-prime private apartments in Singapore reached a record high of S$1,043 per square foot in the first quarter, exceeding the previous high of S$1,020 psf in the last three months of 2010, JLL estimates.

Singapore, like Hong Kong, has found it difficult to keep a lid on property prices due to the surge in global liquidity that has pushed mortgage rates to near record lows as well as strong demand from cash-rich China nationals.

The increasing cost of owning a home has become a political issue ahead of general elections that may take place as early as next month.

Chinese nationals made up the largest group of foreign buyers of Singapore property, accounting for about one quarter of all purchases by foreigners in the city-state, JLL added.

“The surge in Chinese buyers in Singapore coincided with the policy tightening in China,” said Chua Yang Liang, JLL’s head of research for Southeast Asia.

The strong demand from China will continue so long as Beijing’s fiscal and monetary policies remain conducive to overseas investment by wealthier Chinese nationals, he added.

Read More here

Comments

Asean

The Latest on Covid-19 in Southeast Asia

Thailand has largely avoided widespread community transmission of Covid-19, but the kingdom is not faring well on the economic front, with a projected contraction of 7.1 percent this year.

Avatar

Published

on

Coronavirus Asia

As a region, Southeast Asia has fared relatively well in keeping coronavirus cases low, with the notable exceptions of the Philippines and Indonesia.

(more…)
Continue Reading

Laos

China’s debt-trap diplomacy: Laos’ credit rating downgraded to CCC

Laos’ debt challenge is deeply concerning, with some media commentators suggesting the country is falling into a debt trap as a result of Chinese infrastructure investments connected to the Belt and Road Initiative (BRI)

Boris Sullivan

Published

on

On 23 September, the Fitch Ratings agency downgraded Laos’ credit rating to CCC — the second downgrade in 2020, having dropped to B- in May.

(more…)
Continue Reading

Vietnam

Foreign capital still heads to Vietnam

As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.

Avatar

Published

on

Hanoi (VNA) – The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,608 other subscribers

Trending