From the information gathered by DTZ Research, The Straits Times reported that there are now more Malaysian and mainland Chinese who are buying properties in Singapore nowadays. The number of buyers has increased during the Q2 of 2015 compared to the first quarter of the same year.
Malaysians bought more units, accumulating as much as 248 units compared to Chinese buyers. The latter only bought 234 units across Singapore during the second quarter. In general, about half of the total purchases were accounted to the buyers of both Malaysia and mainland China. There were 1,017 units purchased during the second quarter by buyers who are not considered as locals of Singapore.
The increase in real estate shopping from both countries apparently concurred along with the political issues in Malaysia and the ambiguity in the economic status in China.
According to Lee Nai Jia, the regional head of DTZ, most consultancy thought that Malaysian buyers will decline along with the drop of their local currency’s value. But instead, there were more Malaysian now more than ever.
He also said that due to the political concerns in the country, the structural reforms were also affected in Malaysia. Therefore, these Malaysian buyers probably felt anxious on whether they should purchase a house at their country or not. Due to this concern, they have decided to get a home in Singapore instead. Most of them also want to make sure that their investment will not immediately decrease in value so they opt to purchase non-landed developments in Singapore like the Thomson Impressions or the Principal Garden at Prince Charles Crescent.
The Chinese buyers, on the other hand, saw Singapore as a safe place to invest in. Currently, Mainland China is experiencing the lack of financial security and these Singapore homebuyers are afraid of the economic instability in their country at the same time.