Foreign buyers venture out

Nov 15, 2009
Foreign buyers venture out
By Joyce Teo


FOREIGN property investors are spreading their wings and venturing out of the traditional prime areas to snap up homes in other parts of the island.

A new study has found overseas buyers have become keen on districts 11, 22 and most surprising of all, 12, which is the Balestier area.

A Savills Singapore study found that districts 9, 10 and 15 have remained the top spots for foreign buyers over the past three years.

District 9 includes the Orchard and River Valley areas; 15 covers Katong, Joo Chiat and Amber Road and 10 includes the posh Ardmore area, Bukit Timah, Holland Road and Tanglin neighbourhoods. Districts 11 and 22 have become more popular thanks to the higher number of launches there, Savills said.

In the past three years, there have been at least 30 major launches in district 11 alone, including Viva, Park Infinia at Wee Nam and Miro at Lincoln Road. District 22 - it is centered on Jurong - has hosted launches of The Centris, Caspian and The Lakeshore.

Savills said district 12 - which includes the Balestier, Serangoon and Toa Payoh areas - has emerged as one of the top new choices among foreigners this year. Its new projects include The Arte, Trevista, Vista Residences, Nova 48, Nova 88 and Domus.




Savills said district 12 - which includes the Balestier (pictured), Serangoon and Toa Payoh areas - has emerged as one of the top new choices among foreigners this year. -- ST PHOTO