Savills Singapore reports that purchases by PRs constituted 14.3% of total private non-landed home sales in February, a dip from January’s 19.8%. However, the share of 14.3% was still within two standard deviations between January 2011 and March 2013, leading the property research firm to opine that the revised ABSD did not have a significant impact on PR purchases.
"A possible reason for the fall could be due to PRs returning to their homeland during the lunar new year holiday. Similarly, it appears that non-PR overseas purchasers were impervious to the 5-ppt revision in the ABSD rate as their proportion has been trending up since Nov
ember 2012," said Savills Singapore.
"Caveats as of 5 April 2013 (comprising transactions up to 26 March) signalled a rebound in purchases by PRs whose share rose to 18.7%," added Savills Singapore. "Correspondingly, purchases by non-PR overseas buyers edged up from 10.0% in February to 11.8%." Full story
Related:
- New property cooling measures did not spoil first-quarter home sales - Yahoo! Finance Singapore
- Singapore New Private-Home Sales Nearly Quadruple - Fox Business
- Singapore’s Record Home Sales Adds to Concerns of More Measures - BusinessWeek
- Singapore new private home sales soar to record number in March - Reuters
- Singapore's private home sales jumped in March - Global Times
