Foreign homebuyers ballooned to 27% in 1Q13

It exceeded 2012's average proportion.

According to Knight Frank, based on caveats lodged data available as at 22 April 2013, the proportion of foreign homebuyers, including Permanent Residents (PRs) and non-PRs (NPR), increased to 27 per cent in 1Q 2013, higher than the average proportion of 22.2 per cent in 2012.

First-time local homebuyers are unaffected by the ABSD and could have been the key contributor to the total caveats lodged in February 2013.

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