Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Singapore News  >>   Property  >>   Singapore developers pursue Chinese
NEWS UPDATES Asean Affairs                    28  September 2011

Singapore developers pursue Chinese

Related Stories

August 3, 2011
Kuala Lumpur, Singapore, HK top real estate locales

July 5, 2011 
Interest rates hit property market

May 8, 2010
Vietnam: Investors focuses on low cost apartments

October 25, 2008
Vietnam: Real estate keeps attracting retail investors

October 15, 2008
Temasek's unit to build business park in Vietnam

September 3, 2008
Vietnam: Property woes begin to show 

July 22, 2008
Vietnam: Real estate admin procedures to be simplified

Ever since Jacky Zhang visited a few Singapore booths at an international property fair two weeks ago, his iPhone has been ringing with invitations to join special property-viewing group tours in the city-state.

"These (Chinese) agents made it sound like a first-class holiday: My wife and I would stay at a five-star serviced residence in Singapore, be chauffeured around in a BMW to view condos and then shop to our hearts' content," said Zhang, 34, who works in the finance sector.

Although his original intention at the fair was to check out Australian home prices, he quickly got distracted by the enthusiastic sales pitches of companies such as Far East Organization, United Overseas Bank, Credo Real Estate and Chinese consultancy Shuangcheng, which claims to represent small Singapore developers.

Mainland Chinese have become the top foreign buyers of Singapore property, which is seen as a good investment even amid fears of another global recession.

"A strong, stable Singapore dollar appeals to these Chinese buyers as they seek to diversify their funds. The absence of capital gains tax... and plentiful property information available also appeals to them," said Knight Frank Knight Frank research head Png Poh Soon.

Other factors include Singapore's economic stability, its proximity to China - a six-hour flight from Beijing - and an excellent bilingual education system, added Ms Sara Zhang, who heads Far East Organization's Beijing office.

The number of private property deals sealed by foreigners and permanent residents in the second quarter made up 30 per cent of all private home sales in Singapore, according to a report by DTZ Research.

Chinese nationals accounted for just over a quarter - 26 percent - of such purchases. Other foreigners include Indonesians and Malaysians.

And despite tougher Singapore immigration procedures and climbing property prices this year, Chinese buyer interest remains strong, say agents and developers.

No wonder then that many agents and developers from Singapore are rushing to China to woo well-heeled investors.

They face a huge market - China has more than a million millionaires - but also stiff competition from other popular investment destinations like the United States and Australia.



Share 

 


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below
Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code



 
Today's  Stories    28  September  2011 Subsribe Now !
• SBY pledges to protect forests Subcribe: Asean Affairs Global Magazine
• US miners blocking renegotiations Asean Affairs Premium
• Malaysia looks to split up power supplier
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Philippines to offer coal contract bids
• Singapore developers pursue Chinese
• Tax plan for poor homebuyers
• Southern Thai separatist leaders to surrender
• Foreigners bought Vietnamese bonds pp

Asean Analysis              28  September  2011

Advertise Your Brand
• Some movement in troubled southern Thailand Sponsor Our Events

Asean Stock Watch   28  September  2011

 
• Asean Stock Watch-September 28 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com