By Andrew Batt (courtesy of PropertyGuru)
The role of foreigners in Singapore has been a topic of much debate in recent months. They have been cited as part of the reason why property prices have risen dramatically during the past two years.
But that trend has not been restricted to Singapore. Property buyers and investors from overseas — and especially from Southeast Asia — have also been singled out in the UK media for driving the prices of homes in central London, for example, increasingly out of the reach of local buyers.
December's cooling measures, and particularly the 10 percent additional stamp duty for foreign buyers, has already had an impact on Singapore's property market, however it remains to be seen whether expatriates — those who are specifically sent here to work by their employer — will opt to rent and thereby drive up property rental prices in the process.
The global financial crisis has seen a significant number of corporations cutting back on their expatriateRead More »from S’pore still attractive to expats despite higher cost of living