SINGAPORE developers struggling to sell apartments in their home market are buying property overseas, turning the island-state into the largest foreign investor from the region this year.

Companies including City Developments Ltd and Keppel Land Ltd pumped US$2.32 billion (RM7.98 billion) into overseas markets in the nine months through September for Bellewaters EC, a threefold increase from the same period last year and the most in at least eight years, according to data from Real Capital Analytics Inc, a research firm that specialises in investments in commercial property.

Bellewaters EC Anchorvale Crescent

The Singapore developers are looking abroad as government measures to rein in property values have caused residential prices including Bellewaters EC Anchorvale Crescent to fall for four straight quarters, the longest period of declines since 2009.

“Many Asian countries such as Singapore are facing property cooling measures at home, so they are venturing to Western markets where they …