A growing number of Indian buyers are snapping up property in Singapore, despite the country introducing a series of cooling measures designed to stifle the real estate market.
Savills Research and Consultancy senior manager Christine Sun explains that there has been a marked increase in the number of Indian buyers active in the country since 2008, Asia One has reported.
"Indian purchasers constituted 3.1 per cent of all landed and non-landed private home purchases in 2010. This is higher than the percentage registered for both 2008 (2.9 per cent) and 2009 (2.7 per cent), showing that their market share has grown in Singapore over the years," she told the news provider.
Earlier this month the Urban Redevelopment Agency revealed that demand for real estate in the country has fallen.
The news would suggest that government-imposed cooling measures for the property market in Singapore are having the desired effect, with sales dropping by around 30 per cent in January, the firm explained.