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Expatriate Insurance News: Overseas buyers 'pushing up property prices'

Expatriates appear to be pushing up the price of property in Singapore.

According to a statement from Jones Lang LaSalle, the average value of property in the area is now around $1,935 per square foot for prime locations.

Indeed, private apartment prices are now at record highs for the first quarter of the year due to demand from overseas buyers.

Chinese, Indonesian and Malaysian buyers accounted for at least half of the sales in Singapore during the quarter, Overseas Property Professional reported.

Expatriates who are moving abroad might want to take out international health insurance before they emigrate so that they have one less thing to worry about.

Dr Chua Yang Liang, head of research for south-east Asia and Singapore at the estate agent, told OPP: "The preference of the expatriate community is for larger four bedroom apartments of at least 2,800 sqare foot.

"The smaller size units are not particularly attractive as the majority of middle and upper management families relocating prefer spacious four-bedroom units that come with entertainment areas."

Moving abroad? Get a free quote for your international medical insurance online.

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