Since aggressive cooling measures to deter foreigners from buying Singapore property were implemented, their numbers have fallen to 330 in the third quarter of this year, making up 7 per cent of private property transactions.
This is a sharp fall from the 17 per cent of transactions they accounted for in 2011, said National Development Minister Khaw Boon Wan in Parliament on Tuesday.
In December of that year, a 10 per cent additional buyers' stamp duty was levied on all property purchases by foreigners.