Transactions of private homes fell by approximately 45% quarter-on-quarter (q-o-q) in Q1 2014 to 2,406 units, the lowest number of units transacted in a quarter since Q4 2008. The q-o-q fall in transactions was greater in the primary market as developers scaled back on new launches in Q1.
While there was a decrease in the number of transactions across all buyer groups, the proportion of purchases by non-Singaporeans increased q-o-q by 4.0 percentage-points in Q1 to 29%. This was the highest proportion of private home purchases by non-Singaporeans since the Additional Buyer’s Stamp Duty (ABSD) was first introduced in December 2011.
Mainland Chinese buyers were the most active non-Singaporean buyers in Q1, as their purchases made up 31% of all transactions by non-Singaporeans. Malaysian buyers were close behind at 28%, while the share of private home purchases by Indonesians and Indians were at 12% and 11% respectively. Private home purchases by Indonesian buyers in Q1 2014 reached a new low since Q1 2009, coming in at 81 units.
Source : DTZ (Groupe UGL)