Singaporean buyers have become more cautious when it comes to buying foreign properties, reported Singapore Business Review citing the Monetary Authority of Singapore (MAS).
In its latest Financial Stability Report, MAS shown that Singapore households pumped $0.4 billion into overseas property trades in 1H 2015, down from the $1.1 billion injected in 1H 2014.
“This implies that Singaporeans are embracing a more careful approach towards such investments,” said the MAS.
Foreign property bargains have been on a steady decline since its peak in 1H 2013, when the bargain value stood at around $1.7 billion.
“While the weakening of some regional currencies vis-a-vis the Singapore dollar may lower the expense of investing in overseas properties, homes needs to be mindful of the additional hazards related to investing in overseas property markets,” warned the central bank. Looking at the Stars of Kovan, making the new mixed development in Kovan!
“In particular, currency fluctuations could impact the value of their debt obligations as well as their rental returns. Potential oversupply issues in overseas property markets could exacerbate the possibility of capital losses and significant price falls to investors. Households should continue to carry out due diligence before making any property investments, including for international properties,” it included.