Profit, better guaranteed, is the main reason for investing abroad, the survey Property Affordability Sentiment Index by Rumah.com said here on Sunday.
Country Manager of Rumah.com Wasudewan said the Indonesian investors chose to invest in Singapore on better infrastructure, stability and security that would be needed by the would be tenants.
Property Affordability Sentiment Index is an annual survey held by Rumah.com in cooperation with research center Intuit Research of Singapore. The survey involved 1,030 respondents in November-December 2016.
"Singapore has good transport access locally and internationally. For that Singapore has received an appreciation as the Best Location in Asia for expatriates and the 25th best in the world, according to a survey on Quality of Living by Mercer early this year," Wasudewan said.
The results of the surveys matched data from Cushman & Wakefield, an international property consultancy company, which said that in the first half of 2016, Indonesians bought 189 property buildings of various categories in Singapore, or a 23 percent increase compared with the same period in the previous year.
Purchases by Chinese and Malaysians declines, but purchases by Indonesians rose 19 percent in the second quarter of 2016.
According to property company Propnex Realty Pte, as quoted from PropertyGuru.com.sg, which handles the sales of luxurious condominiums OUE Twin Peaks in the Orchard Road, Singapore, the developer of the condominiums has succeeded in disposing of almost 50 percent of 86 units built in the first phase at a price of 4 million Singaporean dollar per unit and Indonesians are the main foreign buyers, Wasudewan said.
He said growing number of Indonesians buy property abroad as technology makes it easier to have information about market in other countries. Indonesians buy property abroad especially in Singapore for commercial purpose.(*)