As the property market in China remains overheated,
a growing number of native buyers are looking for opportunities that present themselves in Singapore, research from DTZ has suggested.
The consultancy noted that the number of mainland Chinese investors active in the Singaporean market rose by three per cent in the fourth quarter of 2010. It took the total proportion of Chinese buyers in the country to a new market-high of 19 per cent.
Chua Chor Hoon, head of DTZ South East Asia Research, said that demand showed no signs of abating in the short-term.
"Mainland Chinese buyers are expected to continue to be among the top two groups of foreign buyers, as the implementation of property market curbs in China
and growing wealth of the mainland Chinese will motivate more of them to make purchases overseas, including Singapore," she said.
A number of analysts have claimed that current low interest rates and strong economic growth in Singapore are helping to push home prices up, although they noted that if transaction volumes and prices continue to rise, another round of cooling measures could be introduced.
- Monday 04 April 2011