Singapore investors said to hold back on purchases

EVEN as Malaysians seek bricks and mortar abroad, three Singapore-based property consultants say Singaporeans are likely to hold off property purchases in Malaysia, particularly Iskandar Malaysia in Johor.

Savills Singapore senior director Alan Cheong says Singaporeans need time to digest what they have purchased over the past year. He says although the ringgit has weakened against the Singapore dollar since August this year, this does not mean Singaporeans will flock over to buy.