Leading overseas real estate expert Andrew Batt has told Singapore TV there is a lot of money being invested in foreign property and it will go to those countries that make it easy for investors.
Batt, international group editor of the Singapore-based PropertyGuru website, was interviewed on the Real Deal slot on Channel NewsAsia about global regulation and managing foreign investment.
He talked about property regulations for overseas buyers in Singapore and Malaysia and how changes in the U.K. market would affect Asian investors.
Batt, who is a regular guest, told presenter Annalisa Burgos, “There is a lot of money out there right now looking for investments in property, so the countries where it becomes easier to invest, where there are less tax regulations, the money is going to go to those kinds of places.”Looking at Singapore, he pointed out that the government had raised the buyer’s stamp duty by an extra 15 percent to try to deter overseas investors.
“I know there are suggestions that foreign property buyers had driven up prices, so it makes sense if you want to curb that particular sector of the buying community then you need to target it specifically.
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