Chart of the Day: Cooling measures hit foreign buyers' interest in Q3

PR buyers' home purchases went down by 26.4%.

This chart from Edmund Tie & Company (ETCo) shows that the property curbs in the form of the hike in the Additional Buyer’s Stamp Duties (ABSD) and the tightening of the loan-to-value (LTV) limits have taken its toll on foreign buyers as purchases by both permanent residents (PRs) and non-permanent residents (NPR) dropped 26.4% and 17.9%, respectively.

In total, PRs bought 754 units whilst NPRs purchased 307 units in Q3.

The firm also found that PRs prefer suburban projects that have competitive prices.

“Projects that were popular among Singaporeans were also favoured by SPRs,” ETCo noted. “These include Riverfront Residences, Stirling Residences, Park Colonial and Jadescape, which were amongst the new launches in Q3.”

Meanwhile, NPRs opted for properties either in prime areas or near the Central Business District (CBD).