29-03-2013, 10:32 PM
S’poreans fuel property booms abroad
SINGAPORE — While Singaporeans complain about how purchases by foreigners are causing home prices here to rise to unaffordable levels, they themselves are fuelling property prices abroad with their overseas investments.
Purchases by Singaporeans are not limited to neighbouring Malaysia, where many are now hoping to retire to, but also in places such as England, Thailand and now, even the Philippines. China used to be a favourite destination for Singaporeans, but the Chinese government’s curbs on foreign purchases, especially in the key cities of Shanghai, Beijing and Guangzhou, appear to have dulled interest in the market there, at least for the time being, said property analysts.
http://www.todayonline.com/business/prop...oms-abroad
SINGAPORE — While Singaporeans complain about how purchases by foreigners are causing home prices here to rise to unaffordable levels, they themselves are fuelling property prices abroad with their overseas investments.
Purchases by Singaporeans are not limited to neighbouring Malaysia, where many are now hoping to retire to, but also in places such as England, Thailand and now, even the Philippines. China used to be a favourite destination for Singaporeans, but the Chinese government’s curbs on foreign purchases, especially in the key cities of Shanghai, Beijing and Guangzhou, appear to have dulled interest in the market there, at least for the time being, said property analysts.
http://www.todayonline.com/business/prop...oms-abroad