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SINGAPORE: Property agents said buyers from China make up the largest group of foreign investors in Singapore’s private residential property, according to a news article on the website of Channel NewsAsia, the Singapore based news network.
The number of buyers from China has doubled in the past three years.
Property agents and developers said Chinese buyers are mostly interested in properties that are in prime districts and have a sea view.
Previously, the traditional groups of foreign buyers were from Indonesia and Malaysia.
The change has led to some local property agents to actively launch plans to gain a foothold in the China market.
OrangeTee Pte Ltd, the Singaporean property consultancy firm, is the first local agency which will be setting up an overseas branch in China.
The agency said China’s tight property regulations will see more buyers looking for investment opportunities in foreign properties.
Meanwhile, PropNex Realty Pte Ltd, the Singaporean real estate company, is also targeting the China market with a dedicated website for buyers.
The site has information about Singapore’s private property as well as the rules and regulations for foreign property buyers in the city state.
The service continues when buyers reach Singapore with a one stop approach.
PropNex Realty regional director David Poh said, according to Channel NewsAsia: “We will actually provide a one-stop service, including the booking of hotels, airport transfer, meals, sight seeing, viewing properties, buying properties, opening of accounts and arranging for conveyancing.”
The services provided by the company do not stop short of facilitating the buyers move to Singapore, including renovations of the premises and assistance in finding placements of their children in local schools, according to Po. Speaking to Property Report South East Asia the regional director said: “I think it is important if they [Chinese buyers] are not familiar with Singapore to provide an one-stop service.”
Via PropertyReport
Luxury News / Golden Choice by Lux Creative International
