
Condos bought by Singaporeans dropped by 37% to 4,129 units
Purchases by expats also dipped 6.6%.
According to DTZ Research, the number of foreign purchases declined by 6.6% q-o-q to 562 units while Singaporean and Permanent Residents (PR) purchases fell by a larger 37.0% and 33.4% to 4,129 and 963 units respectively. Purchases by companies fell the most by 73.3% to only 27 units in Q1 2013, the lowest since Q1 2009.
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Popular projects among foreign buyers in the primary market included d’Leedon (85 units), Echelon (26 units), Eco Sanctuary (21 units) and Q Bay Residences (15 units).
The proportion of purchases by foreignersrose moderately from 6.9% in Q4 2012 to 9.9% in Q1 2013. This is higher than the quarterly average of 6.4% in 2012 but still lower than the quarterly average of 17.5% in pre-ABSD 2011.
In absolute terms, transactions fell across all buyer groups in Q1 but the fall was smallest for foreigners.