In Knight Frank's The Wealth Report Attitudes Survey 2012, Singapore is the third most important city for high-net-worth individuals (HNWI). The survey polled 400 private bankers and wealth advisors across the globe, at the end of December 2012, about their high-net-worth clients' attitude towards a wide range of financial issues.
Specifically, the result to the following question: “What are currently the most important cities to your clients?”, shows Singapore coming in third for HNWIs in Europe and North America, first in Asia and within the top ten for Australasia, Latin America, Middle East and Africa, and Russian and CIS.
The little red dot clinched the third spot globally, and is poised to rise to second spot come 2023.
URA figures, for the period of January 2010 till date, shows that private residential properties in Singapore enjoy healthy interest from foreign buyers.
The proportion of foreign buyers increases in tandem with the sale price, except for the category of properties exceeding $5 million. Foreigners make up 3.6 per cent to 23.28 per cent of buyers for homes with prices of up to $5 million. Their number drops to 18.3 per cent for residences exceeding $5 million. Overall, they form 11 per cent of buyers.
Table 1: Proportion of Foreign Home Buyers, January 2010 - Now
|
less than $500,000 |
> $500000 to $1 mil |
> $1 mil to $1.5 mil |
> $1.5 mil to $2 mil |
> $2 mil to $3 mil |
> $3 mil to $4 mil |
> $4 mil to $5 mil |
more than $5 mil |
Total |
| Foreigner (Non-Permanent Resident) |
3.60%
|
7.41%
|
11.03%
|
14.42%
|
16.43%
|
21.03%
|
23.28%
|
18.30%
|
11.00%
|
Postal District 9 proves to be the most popular area for foreigners. Sales there makes up 11.87 per cent of total foreign sales for January 2010 till now.
This simple analysis suggests that Singapore's real estate market tends to attract wealthier foreigner investors who can afford high-end residential properties.
About Property Buyer
http://www.PropertyBuyer.com.sg/mortgage
We are a
research-focused Singapore mortgage consultancy which helps you compare
Singapore home loans either for new loans or refinancing. We use loan reports from Singapore's best loan analysis system (exclusive to us) at
http://www.icompareloan.com/consultant/ to serve our customers.
Our services are completely FREE to you as the banks pay us a referral fee upon loan disbursement.
SMS: (65) 9782 8606
Email:
loans@PropertyBuyer.com.sg
