Singapore PRs and other foreigners are buying fewer private homes. The number slipped for the second consecutive quarter in Q2 2013, according to a caveats analysis by DTZ. Conversely, the number of private residential properties purchased by Singaporeans increased 14.4 per cent in the second quarter over the first quarter. For PRs, the drop is chiefly evident in the secondary market, where they picked up just 348 units in the second quarter – 30.3 per cent less than in the first. On the other hand, the number of private homes PRs bought in the primary market, that is, from developers, rose 4.2 per cent q-o-q to 525 units in Q2. Overall, PRs picked up 873 units in Q2 2013, which accounted for a q-o-q drop of 13 per cent. In all, non-PR foreign buyers saw their share of the total number of private homes sold going down from 9.8 per cent in Q1 this year to 7.5 per cent in Q2. Mainland Chinese continued to be the top buyers, with a 28 per cent share in Q2, followed by Malaysians (27 per cent share), Indonesians (18 per cent) and Indians (7 per cent).... Continue Reading