The private home market may have continued to enjoy robust turnover in the third quarter of this year but the prices of luxury apartments appear to have peaked. According to a report by property consultancy Savills, the average per sq ft price for non-landed high-end private homes dipped 2 per cent to S$2,243 for the first two months of the third quarter from S$2,286 in the second quarter of this year. In...
singapore luxury homes
Foreign investors continue to change the landscape of the luxury property market in Singapore. According to Cushman and Wakefield’s analysis of URA caveats lodged, Indonesians and mainland Chinese formed the majority in the upmarket segment this year, followed by Malaysians, Indians and the British. “Singapore is seen by many foreign investors to be a safe haven for property investment due to the...
The 175-unit The Orchard Residences saw two transactions from Aug 12 to 23. The 54-storey condominium tower sitting on top of the ION Orchard mall is the new landmark on Singapore’s famed shopping strip, and was developed by CapitaLand and Hong Kong’s Sun Hung Kai Properties. The Orchard MRT station sits underground and is linked to the neighbouring malls. Completed late last year, the landmark...
Foreigners are acquiring posh apartments in Singapore and contributing to the health of the luxury market, which had been weak since early 2007, according to an article in The Straits Times. Foreigners, including permanent residents (PRs), acquired 162 non-landed units with an average price of over S$5 million in the first half of 2011. According to a Cushman and Wakefield analysis of URA caveats lodged,...
The 55 units at its The Nassim condo is expected to price between $9 million and $33 milllion. The low-rise condo, on the former ANA Hotel site at Nassim Hill, has been designed by Mok Wei Wei of W Architects. The project will be set amidst lush greenery, creating a distinct ambience of living in a landed area. 'This will appeal especially to foreigners, who face restrictions buying landed properties on...
Latitude, a high-end condominium located on Jalan Mutiara in the prime River Valley area, has seen a spike in transactions since late July. The 127-unit freehold condo by giant listed developer CapitaLand was completed late last year. Caveat data downloaded from URA for the period from July 26 to Aug 2 saw four caveats lodged for the sale of four four-bedroom units sized at 2,766 to 2,928 sq ft. The...
Luxury home prices in Singapore fell 1.7 per cent in the second quarter of the year from the first three months, the biggest drop in CBRE's list of cities in its Asia Luxury Residential report. CBRE said that no new luxury residential projects were launched in Singapore during the second quarter as existing projects continued to struggle to attract buyers. Luxury home rents fell by 1.9 per cent...
Rent of high-end homes might keep falling in the light of an increased supply and less generous housing packages for expatriates. Luxury home rents have dipped by about 2 per cent in six months, according to GPS Alliance associate agency head Jack Teo, while as an OrangeTee agent said, some of his clients have had to cut rents by about 5 to 7 per cent to land a tenant. Upscale projects such as The...
Three Balmoral. A coveted address that signifies prestige like no other. An exclusive development in the Prime District 10 for the creme de la creme of society. Eneveloped within the serenity of nature, life is beautiful with rustling leaves orchestrating the soundtrack of your sanctuary. Location: Balmoral Road (District 10) Tenure: Freehold Year of Completion: 2016 Total Units: 42 Unit Types: 1 + Study...
Singapore’s luxury prime market remained stable in the second quarter, as home buyers stayed cautious after recent cooling measures implemented by the government, according to a report from global real estate services firm Jones Lang LaSalle (JLL). “Despite the low interest rates environment, capital values for the Singapore luxury residential market is expected to remain stable,” said Jacqueline...