When compared with preceding years, more foreign developers are nowadays deciding to develop property lots in Singapore, said June Yang, Assistant Supervisor of Research at JLL Singapore.
Several variables have led to the higher amount of foreign players entering the residential marketplace, including greater ease of doing business increased transparency in the company and property marketplaces here and favorable investment, Yang wrote in a blog post.
Previously, such contribution came from just a couple of neighbouring countries like Hong Kong and Malaysia, but this has expanded to include Chinese companies.
According to Yang, “In days gone by, many foreign developers partnered with locals in the creation of residential property. Increasingly, these same foreign developers have embarked on such undertakings independently, after having gained adequate self-confidence and acquaintance together with the local marketplace.
“Nevertheless, given the property cooling measures now set up, these developers will likely take a more cautionary position going forward,” she added.
Some big name foreign firms that have been active in the national marketplace recently contain additionally Malaysia’s SP Setia, and MCC Land (The Alps Residences) and Qingjian Realty from China.