Tempointeractive.com, 20 Oct 2008, Ali Nur Yasin
"Boon Kuah explained that 25 percent of Singapore's total property i is owned by expatriates. "About 19 percent of them are Indonesians," he said last week. According to him, buyers from China and India come in the third and fourth place, respectively."
"The Far East Marketing deputy general manager, Eindrata Tanukusuma, said the Singaporean government will provide facilities to prospective property buyers from other countries, among others by exempting them from the sales profit tax and providing them with permanent resident permits.
Prospective buyers can also apply for up to 70 percent bank loans, Eindrata said. "The interest rate is only 2,5-3,5 percent," he added. Singapore laws require property developers to save 20 percent of their project's value in an escrow account. "The government will monitor the account, therefore we must work according to the agreed plan," he explained.
The Singaporean government has targeted a population growth of 6 million people from 4,6 million, in the next three years. The government has granted permanent resident permits to 480.00 expatriates," he said."
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