PRs shun resale property, more are buying directly from developers attracted by hefty discounts, 25 Jul 2013
Permanent residents (PRs) and other foreigners are buying up fewer private residential properties in Singapore as a result of the government’s stringent cooling measures.
Based on DTZ’s caveats analysis, the number of private homes purchased by PRs and foreigners dropped for a second consecutive quarter in Q2 2013, while those bought by Singaporeans rose 14.4 percent quarter-on-quarter.
But the number of private homes bought by PRs in the primary market, or directly from developers, climbed 4.2 percent quarter-on-quarter to 525 units during the same period. Full story