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Chinese property developers target Singapore buyers

PropertyGuru

By Andrew Batt: EXCLUSIVE: More Chinese property developers will be targeting Singaporean property buyers and investors in the coming months, heralding the start of a new wave of property investment opportunities within Asia for local buyers.

The second property exhibition featuring commercial property investments in the second tier Chinese city of Chengdu took place last weekend and attracted a good degree of interest from Singaporeans looking at overseas property investments. Until now, Chinese property investment exhibitions have been a rare sight in Singapore, outnumbered by events featuring destinations such as Malaysia, Australia, Thailand, the UK and the US.

Janice Low De Yean, Regional Sales Director of the Centaline (Singapore) real estate agency, told PropertyGuru: "There is a lot of pent-up demand from Chinese developers who are looking to market their developments in Singapore." She added that her company has already lined up developers from China, Hong Kong, Macau and Taiwan for property road shows in Singapore.

Low said that Singaporeans, as well as Indian and Indonesian permanent residents (PRs), are looking at places like Chengdu because the prices of property there have yet to reach their peak. "Buyers from Singapore know established destinations but they also like to look at newer places," she added.

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Centaline was marketing a Chengdu serviced apartment investment opportunity in what it described as China's most prolific and dynamic investment city, which benefits from direct flights from Singapore.

Low stated that more than 90 percent of buyers who made a booking at a previous Chengdu event went ahead with their purchase after embarking on a tour of the city. Investment levels at the Neptune Center, in which Centaline has already sold more than 90 units throughout Asia, start from S$180,000.

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