Foreign Buyers Returning To Singapore Property Market.

Online, September 7, 2012 (Newswire.com) - Foreign investors and buyers are coming back to Singapore property market. With developers offering irresistible incentives and promotions, foreigners are feeling less of the sting from the cooling measures implemented by the government.

Foreign buyers who are not permanent residents of Singapore, bought up to 7 per cent of private homes in the 2nd quarter of 2012. In absolute terms, foreign purchases soared 73 per cent in the second quarter. Most the homes bought these foreign buyers are in the city centre and city fringe.

Many of the foreign buyers were initially shocked by the additional buyer's stamp duty of 10 per cent implemented in December last year. But developers have been more aggressive since, by offering incentives such as stamp duty reimbursements, rental guarantees and furniture vouchers.

Malaysian buyers are now the top foreign buyers of Singapore property with a 27 per cent market share of all foreign purchases. They are followed by Chinese buyers from China making up 19 per cent of the market. There are also more purchases made by buyers from US, Japan and the Phillipines.

The additional buyer stamp duty does not apply to buyers from America, Switzerland, Liechtenstein, Norway and Iceland.

Foreign buyers who are interested to invest in Singapore may want to study the new Thomson MRT line. This new subway line will connect the north south corridor of Singapore and offers many new investment properties along the line.

Investors looking at other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.