
Proportion of foreign homebuyers dropped to 21% in 2Q13
The average proportion is 22.2%.
According to Knight Frank, based on caveats lodged data available as at 2 July 2013, the proportion of foreign homebuyers, including Permanent Residents (PRs) and non-PRs (NPR), decreased to 21.0 per cent in 2Q 2013, which is lower than 26.7 per cent in 1Q 2013 and the average proportion of 22.2 per cent in 2012.
Local homebuyers account for majority of the private home transactions.
Here's more from Knight Frank:
Foreign investors who are new to the Singapore housing landscape would still prefer prime residential properties in Districts 9, 10 and 11 as safe bets.
However, high-end residential segment currently remains quiet due to the high price quantum and the Additional Buyer’s Stamp Duty measure.
Foreigners residing in Singapore and are more familiar with the local environment are beginning to venture into suburban areas, given the lower price quantum of mass market residential properties and the convenient public and private transport accessibility in Singapore.
Nonetheless, the proportion of foreign buyers is still low compared to Singaporeans as long as the current cooling measures remain in place.