Its a love-hate relationship, maybe. I meant between Malaysia and Singapore. I love my Singaporean friends, that’s for sure. However, everything is okay when it comes to properties. Lets understand that many Singaporeans buy properties in Johor Bahru. Maybe nowhere near as many as the Chinese of China but they do buy, definitely. Investment is one reason, proximity is one supporting reason. What about Malaysians buying into properties in Singapore? Well, apparently, a small nation is able to be placed 2nd largest foreign buyers for Singaporean property, just after China.
Article in edgeprop.my Singapore-based property consultancies Cushman & Wakefield and Savills quoted Singapore’s Urban Redevelopment Authority (URA) saying Malaysians were the second-largest group after the Chinese for the first half of 2019. It’s research head Christine Li said the top-five nationalities buying into Singapore’s private housing were the Chinese (440 units), Malaysians (283 units), Indians (152 units), Indonesians (116 units) and Americans (65 units) for the first six months of 2019.
One interesting note is that in the second quarter, prices grew. This suggested that the market have stabilised after the additional stamp duties of 20% since July 2018. The number of foreigners whose nationalities were not specified has now reached 331 units for the July – August period. These unspecified foreign category refers to those who buy new uncompleted units from developers. More details in the Article in edgeprop.my
I guess when it comes to properties, the currency plays a less important role because if it’s just due to currency, Singapore’s property market may be less attractive compared to Malaysia. However, many other factors including international recognition of its property market for example which will sway the decision to buy in their favour versus a lesser known developing property market like ours. Anyway, it’s good to know that we (Malaysia and Singapore) continue to be interested to own a piece of one another. (pun intended). Happy investing!
<Featured Image is courtesy of Stock Photos from MOLPIX>
Next suggested article: Need not be all about Singapore properties. Perhaps Malaysia too.