Staff Reporter
,
Singapore
Local purchasers badly hit by cooling measures.
According to Knight Frank, even as total new sale, subsale, and resale private transaction volume declined, foreign purchasers constitute a growing proportion of buyers as the TDSR has a greater impact on local purchasers who take loans from local banks. Transactions by foreigners (PRs and non-PRs) form 28.5 per cent of total transactions in 1Q 2014, compared to 25.7 per cent in 4Q 2013, based on caveats lodged data as at 14 April 2014.
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