Number of Chinese investors in S'pore properties hit record high

SINGAPORE: Singapore is seeing growing interest from Mainland China as the number of Chinese buyers hit a record high of 19% of foreign purchasers in 2010, up from the previous high of 15% in 2009, according to the latest DTZ Singapore Property Times.

In another record high, Chinese buyers accounted for 23% of foreign purchasers in 4Q2010, up from 20% in 3Q2010.

It is the first quarter and year that China has overtaken Indonesia to be among the top two groups of foreign buyers of residential properties in Singapore, said DTZ.

Mainland Chinese buyers are expected to remain in the top two groups of foreign buyers as the continued implementation of property market curbs in China, combined with the growing wealth of the mainland Chinese will motivate more of them to make purchases overseas, including Singapore.

Meanwhile, Malaysians remained the dominant foreign purchasers in 2010, accounting for 25% of all non-Singaporean purchasers for 4Q 010 and 23% in 2010.

Buyers from Malaysia also continued to dominate landed sales among foreigners together with buyers from the UK, accounting for 42% of the total landed sales in 2010.

Rounding up the top four are Indonesia and India. Collectively, the countries accounted for 73% of the total transactions by foreigners and Singapore permanent residents in 4Q2010.