According to a Consumer Sentiment Study carried out by the Singapore real estate website PropertyGuru Australia, Malaysia and Thailand are the hottest places to buy overseas property. Singapore real estate buyers much like domestic buyers are in search of larger homes after experiencing lock-down in apartments
The survey will help developers, real estate agents and even individuals selling homes themselves in the three locations.
Nick Marr overseas property website Homesgofast.com “ Learning who your target audience is part of the battle when selling to overseas buyers. Australian Realtors for example can clearly target their efforts at Singaporean buyers who appear to be in love with Australian real estate.
Australia’s proximity to Singapore, as well as its cultural and sporting pull, has drawn a lot of overseas interest.
Meanwhile, Thailand steady property prices have allowed Bangkok to be considered a safe investment option, while villas on Thai islands have become synonymous with tropical luxury.
Malaysia is closer to home, the long-term relationship with Malaysia is bounded by ties of kinship, culture, and economic interdependence.
Australian Changes its Rules To Overseas Buyers
In Australia, Foreign investment rule changes, the Financial Services Royal Commission and the pandemic all impacted buyer numbers, but experts say the market should turn around this year as Australia’s borders reopen and international students and new migrants return.
The Sydney Morning Herald reported that Like Australian home buyers, overseas-based buyers were looking for larger homes and a better lifestyle after being in coronavirus-related lockdowns in apartments in large cities like Singapore.
Foreign home buyers that were still buying were most likely to purchase a property in Victoria, NSW or Queensland, according to data from FIRB, with data showing 88 per cent bought there in 2019-2020.
About 85.6 per cent of the properties bought were new dwellings or vacant land, with figures also showing 79 per cent of properties bought by overseas buyers were priced under $1 million.
The Singapore stock market has moved higher in five straight sessions, soaring more than 170 points or 5.3 percent along the way. Now at a fresh 30-month closing high, the Straits Times Index sits just above the 3,420-point plateau and it's predicted to open higher again on Thursday.
The global forecast for the Asian markets is upbeat on earnings optimism and support from oil and technology stocks. The European and U.S. markets were firmly higher and the Asian markets are tipped to open in a similar fashion.
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