Singapore buyers for London Properties

According to a recent report, up to 66% of new launch property in London are snapped up by buyers in Southeast Asia. Of the statistics, it is also revealed that Singapore and Hongkong buyers make up one-third each of the overseas buyers in the new launch property segment, where-else other Southeast Asia buyers make up the remaining one-third in the segment.

New Launch Property

Analyst attributes this phenomenon of buying new launch property to the stable working environment in Singapore and Hongkong where real estate investments are popular. The local real estate prices are viewed to be on the high side. Therefore, these 2 groups are buyers are keen to look overseas for real estate opportunity. Notably, Singapore investors are in particular very keen on overseas property due to the Additional Buyer Stamp Duty (ABSD) on multiple local properties. Also, the local government’s stance on letting the Singapore Dollar appreciate and the depreciating pound makes London properties very attractive.

New Launch Property

In particular, Singaporeans real estate investors are very sensitive to quantum price for new launch property. There is a section of buyers whose investment budget falls in the range of half-a-million. The Hillford new launch condo at beauty world plaza might be a good investment and bring the investment environment back into the local market new launch property.

Leave a Reply