Singapore luxury home prices rank No.3 globally

Singapore’s high-end homes recorded the third largest increase in prices globally, behind Shanghai and Mumbai, according to a new report released today.

Compiled by property consultancy Knight Frank and Citi Private Bank, The Wealth Report 2011 found that Singapore’s luxury home prices rose 18 percent in 2010.

This was on top of a 17 percent increase the previous year, when Singapore recorded the fifth largest increase in high-end home prices globally.

Meanwhile, home prices in Shanghai saw a 21 percent increase in 2010, on top of a 52 percent jump in the preceding year, while Mumbai home prices rose 20 percent in 2010 after increasing 11 percent in 2009.

The top three home price heavyweights — Hong Kong, New York and London — saw smaller price increases in 2010, ranging between 10 and 15 percent.

Source : PropertyGuru – 6 Apr 2011

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