Singapore has the largest group of foreign investors in the Asia Pacific, according to DTZ.
The global real estate adviser said local investors in Singapore accounted for 70 percent of all investment purchases in 2010, while Asia Pacific regional investors made up more than half the total foreign purchases recorded last year.
“With Asia Pacific now benefiting from a greater increase in capital targeting the region, we expect to see more foreign investor participation in 2011,” said Ms. Chua Chor Hoon, Head of DTZ South East Asia Research.
“Nevertheless local investors will continue to dominate as many are developers buying state land and private collective sites and REITS are increasingly on the acquisition mode after a two-year hiatus, with a few new ones lining up for listing.”
“There is growing demand and competition for the better quality stock in Singapore; the main constraint is the lack of core and core-plus assets for sale,” she said.