{"id":2702,"date":"2015-10-19T02:49:53","date_gmt":"2015-10-18T18:49:53","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=2702"},"modified":"2022-07-01T03:35:14","modified_gmt":"2022-06-30T19:35:14","slug":"foreigners-shy-away-from-singapore-property-prices-drop","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/foreigners-shy-away-from-singapore-property-prices-drop\/","title":{"rendered":"Foreigners shy away from Singapore property; prices drop"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><h3><b><\/b><i><span style=\"font-weight: 400;\">Overseas buyers traditionally add to the demand for more expensive homes, such as those in the central region and city fringes, but their share of purchases has been on the decline.<\/span><\/i><\/h3>\n<p><span style=\"font-weight: 400;\">A drop in the number of homes foreigners are purchasing could have led to depressed housing prices, that dropped 1.3 per cent for private homes in the third quarter, analysts who spoke to <\/span><a href=\"http:\/\/www.straitstimes.com\/business\/property\/foreigners-buying-fewer-homes-in-singapore\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Straits Times<\/span><\/a><span style=\"font-weight: 400;\"> said. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Foreigners bought 137 non-landed private homes in the third quarter this year, making up about 4 per cent of sales. This is down from 355 in the third quarter of 2013, or a 9.2 per cent sales share. Last year, they bought 261 and held a 10 per cent share in private home sales.<\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_15652\" aria-describedby=\"caption-attachment-15652\" style=\"width: 724px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-15652 size-full\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2015\/10\/foreigner-buys-private-home-at-keppel-bay-.jpg\" alt=\"foreigners buy private homes at Keppel Bay\" width=\"724\" height=\"483\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2015\/10\/foreigner-buys-private-home-at-keppel-bay-.jpg 724w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2015\/10\/foreigner-buys-private-home-at-keppel-bay--440x294.jpg 440w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/><figcaption id=\"caption-attachment-15652\" class=\"wp-caption-text\">Private homes at Keppel Bay<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Ms Christine Li, director of research at Cushman &amp; Wakefield said support for homes in Singapore\u2019s central region and city fringe may weaken if foreign share continues to decline.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Buyers from main nationalities have been holding back. Chinese buyers bought 163 private homes last quarter, down from 222 a year earlier, Malaysians bought 184, down from 224, Indians bought 57, down from 100, and Indonesians bought 39 units, down from 112. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Read <\/span><a href=\"http:\/\/www.straitstimes.com\/business\/property\/foreigners-buying-fewer-homes-in-singapore\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Straits Times<\/span><\/a><span style=\"font-weight: 400;\"> for more.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>If you enjoyed this article, you might be interested in\u00a0<a class=\"yoast-link-suggestion__value\" href=\"https:\/\/www.99.co\/singapore\/insider\/foreigner-buying-of-singapore-homes-hits-7-year-low\/\" target=\"_blank\" rel=\"noopener\">Foreigner buying of Singapore homes hits 7-year low<\/a>\u00a0and\u00a0<a class=\"yoast-link-suggestion__value\" href=\"https:\/\/www.99.co\/singapore\/insider\/singaporeans-buy-executive-condominiums\/\" target=\"_blank\" rel=\"noopener\">Why Singaporeans still love buying executive condominiums<\/a>.<\/p>\n<p><i>Find the home of your dreams today at Singapore\u2019s largest <a href=\"https:\/\/www.99.co\/?utm_source=blog%20main%20site%20conversion\">property portal, 99.co<\/a>!<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Overseas buyers traditionally add to the demand for more expensive homes, such as those in the central region and city fringes, but their share of purchases has been on the decline. A drop in the number of homes foreigners are purchasing could have led to depressed housing prices, that dropped 1.3 per cent for private&hellip;<\/p>\n","protected":false},"author":17,"featured_media":53998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53593,53589,57131],"tags":[53668,53795,53768,53764],"persona":[],"class_list":{"2":"type-post","14":"entry","15":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Foreigners shy away from Singapore property; 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