Chinese buyers snapping up luxury homes in Singapore

[SNAblog]

http://english.ntdtv.com/ntdtv_en/ns_life/2010-08-27/342155244470.html

Singapore Luxury Homes Draw Chinese
2010-08-27 10:55

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More than half of the homes here at Sentosa Cove are owned by non-Singaporeans.

But it's the mainland Chinese who have been raising eyebrows, splashing out tens of millions for houses here.

Already the third largest among all foreign property buyers in Singapore, they are especially keen on these luxury bungalows, with one home exchanging hands earlier this year for US$26 million.

In the first half of the year alone, Chinese buyers accounted for over 30% of sales in these ultra high-end homes here.

This is nearly double of what China buyers accounted for, in all foreign property sales in Singapore.

 

[no_faith]

ic, so shanghai or beijing house price were halved cuz dey coming to our shore to buy houses.

home is not the word to use, they are not sgporean.

nw dey buy and buy when property in sg burst, dey flee.
den these house will become ghost house.

who will buy, we cant buy anyway.

 

[eatshitndie]

these unscrupulous scums are hiding their ill-gotten wealth from the chinese authorities. where ever they go, they cause a bubble, and when ever panic strikes, they melt like lard.

 

[Brightkid]

I am not so concerned about foreigners buying very high-end, multi-million dollar properties, especially those 99-lease in Sentosa.

What irks me are those PRs buying HDB and can afford to pay way beyond valuation price and out-priced the citizens. When transacted prices include valuation + COV, the next valuation will be the summation of the transacted valuation + COV, which escalates the rise in valaution. Hence the dog chases its tail effect.

Basic housing as in HDB are meant for citizens. It is un-imaginable that this govt allow her citizens to be screwed like this, unless the objective is to deplete their CPF fast, which is not to the benefits of the citizens.

 

[no_faith]

tatz the concern, watever these FT paying more it shd be, it shd not affect the ppl so much. HDB are meant for our ppl to afford, start a family etc.

if tatz the case, whr shd we stay? park? wat measures did our smart govt implement?

 

[american]

More than half of the homes here at Sentosa Cove are owned by non-Singaporeans.

This is actually good for Singapore because the non-Singaporeans buyers are investing in Singapore - for them to buy the Sentosa Cove homes, they have to withdraw money from their banks in their home country and bring the money into Singapore - this is good for the economy of Singapore.

 

[Cuntamania]

Yes it's true, these scums are actually "washing their money here" Sinkapore is a heaven for money laundering for the rich scums.:oIo:

these unscrupulous scums are hiding their ill-gotten wealth from the chinese authorities. where ever they go, they cause a bubble, and when ever panic strikes, they melt like lard.

 

[Einfield]

This is actually good for Singapore because the non-Singaporeans buyers are investing in Singapore - for them to buy the Sentosa Cove homes, they have to withdraw money from their banks in their home country and bring the money into Singapore - this is good for the economy of Singapore.

For PAP maybe, for normal man in the street, you don't get 1 cent out of it.

 

[Devil Within]

Sentosa may become the New China Town.

 

[wallace]

But it's the mainland Chinese who have been raising eyebrows, splashing out tens of millions for houses here.

How did these former communist get their money from? People from communist countries don't have private property

 

[X-Wing]

How did these former communist get their money from? People from communist countries don't have private property

Depends whether they are :

Female

Drop dead killer looks

Made their money by spreading legs

Or conned money out of gullible men

Other than that China is the undisputed king of copycats.

 

[makapaaa]

So the *law* in which FTrash are now allowed to buy landed properties in Peesai is but as good as non-existent. What are you defending?

 

[makapaaa]

http://www.google.com/imgres?imgurl...oft:en-sg:IE-SearchBox&rlz=1I7SUNA&tbs=isch:1​