Singapore still home to world’s worst-performing luxury residential market: report

But things might finally be looking up.

Singapore was the weakest-performing prime market for the seventh consecutive quarter, according to Knight Frank’s latest Prime Cities Global Index.
The city-state’s luxury residential market continued to be bogged down by weak demand on back of rigid property cooling measures. Despite this, the rate of annual decline has slowed significantly from -15.2% at the end of Q2 to -7.9% this quarter.

“There is evidence of notable condominium sales transacted at prices that are close to typical market prices for ultra-luxury residential properties, hence we see a slight upwards improvement in the index from last quarter. However, such transactions remain low as interest in high-end residential properties continues to remain muted due to ABSD and uncertain market conditions,” said Alice Tan, Director and Head of Consultancy & Research, Knight Frank Singapore.

Shanghai is the best-performing luxury home market in Asia, followed by Jakarta, Bangkok, Seoul ans Bengaluru.

Apart from Singapore, among the worst-performing Asian cities are Taipei, Kuala Lumpur and Guangzhou.

Also Read

One Sophia sells 30% of units at weekend launch

Turf City sites could deliver up to 800 public housing units: Huttons

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit