Property Development & Investment Market (Singapore) - Discussion with Gary Quashie

Article written by Andrew Batt (11th June 2013)

Footfall at overseas property exhibitions in Singapore was down last weekend, although developers and agents were largely happy with sales levels.

The impact of the school holidays saw fewer property buyers and investors splashing cash on overseas properties, with the number of events significantly down on the 20-plus exhibitions which took place over a single weekend just a few weeks ago.

Despite the lack of visitors, developers and agents were largely happy with the interest being shown in investment opportunities from Malaysia, Australia, New Zealand, the United Kingdom, France and the Philippines.

UK student accommodation was the focus of one event where Trivelles International, and its local agent Dennis Wee Group, was showcasing an investment in Bradford.

Gary Quashie, Regional Operations Manager for Trivelles International, told PropertyGuru: “Student accommodation investments in the UK have been booming since the last recession, and we’ve definitely seen a huge pick up in interest from buyers throughout Southeast Asia.”

Elsewhere Jones Lang LaSalle was exhibiting The Stamford Residences in Auckland, New Zealand.

Doris Tan, Head of International Residential Sales, said: “Buying in New Zealand is very easy for Singaporeans, and those we’ve seen for this project are generally buying for their own use.”

Villages Natures, the first French property to be showcased in Singapore for more than two years, also saw buyers at its property exhibition held with Premiere Realty.

Jean-Dominique Hilderbrand, International Sales Director for developer Pierre & Vacances, said: “We were pretty busy, and interestingly we saw cash buyers as well as two Indonesian buyers. Most of the people we saw already have European connections.”

The pace of overseas property exhibitions in Singapore will pick up in the coming weeks, with many agencies reporting a large number of developers lined up to bring their projects here.

Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg

Original Source: https://www.propertyguru.com.sg/property-management-news/2013/6/49633/quiet-time-for-overseas-exhibitions