Singapore’s luxury property market is bouncing back
Following three years of decline, the Singapore property market has already started to reverse the trend in 2018 – with the luxury sector leading the charge.
Luxury homes rose to an average price of $2,049 psf in January-February, marking a 22% increase year-on-year. The mid-tier property market also performed well, posting 4.7% growth to $1,488 psf.
Property market highlights:
- New luxury development Le Nouvel Ardmore claimed top spot with a sale at $4,098 psf
- Two units in The Nassim were sold for $19.6m and $17m
- While pricing is up, overall volume declined slightly by 7.3% against the ten-year average
This follows a boom in en bloc sales, which have reached an astonishing $3.5bn in the year to date, as well as news of Hong Kong’s emergence as the world’s priciest property market by square foot.
Where to now?
- See how Singapore stacks up against the world’s fastest growing luxury property markets;
- And why Singapore has placed fourth in the world’s “ultra prime” property markets.
- Discover The Tomlinson – one of Singapore’s trophy condo developments.
- And then get away from it all: in this Devonshire countryside mansion house.