Singapore luxury real estate
From the great landed estates of Bukit Timah, Holland and Nassim to some of Asia’s most tightly held apartment buildings and the waterfront houses of Sentosa Cove, Singapore’s prime residential market is unusually varied for an island of its size.
What connects its most sought-after property is scarcity, although for different reasons. Good Class Bungalow land is protected and ownership tightly restricted; many of the best apartment buildings contain only a few dozen homes; and Sentosa Cove occupies a singular position as the one part of Singapore where foreign buyers can acquire landed residential property, subject to approval. Together, they make for a market in which the address, tenure, property type and buyer’s residency status can matter as much as the home itself.
Market report | Properties for sale
Singapore ultra-prime property report
At the very top of Singapore’s residential market, extraordinary prices continue to be set for exceptional property. Good Class Bungalows remain among the most tightly held, with just 36 changing hands in 2025 from a stock of roughly 2,800, while record-setting condominium sales have continued across Nassim, Orchard and the surrounding prime districts.
Scarcity is a recurring theme, but it takes different forms. GCB supply is effectively fixed and the buyer pool restricted; in the best condominium buildings, owners are often reluctant to sell and there may be only a handful of comparable homes. As Realstar Premier Group’s Martin Goh puts it: “The challenge is the extremely limited supply—very few owners are selling. And when something does come onto the market, the price is typically high.”
The 60% Additional Buyer’s Stamp Duty has also radically changed the market for international purchasers. Yet Singapore’s continuing concentration of private wealth, family offices and new citizens means the top end is not simply a story of foreign demand disappearing. The pool of buyers has changed, while demand for the best addresses and buildings remains.
Sentosa Cove is the conspicuous exception. It remains the only part of Singapore where foreigners can acquire landed residential property, subject to approval, but its resale market has been markedly softer than the mainland prime districts. Boulevard speaks to the agents, developers and architects working across the market about what is selling, who is buying, and how scarcity, regulation and a changing pool of wealth are reshaping Singapore’s most expensive homes.
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