{"id":102194,"date":"2018-12-12T11:10:37","date_gmt":"2018-12-12T04:10:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-super-posh-homes-are-worlds-2nd-most-expensive\/"},"modified":"2018-12-12T17:03:37","modified_gmt":"2018-12-12T10:03:37","slug":"singapores-super-posh-homes-are-worlds-2nd-most-expensive","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-super-posh-homes-are-worlds-2nd-most-expensive\/","title":{"rendered":"Singapore's super-posh homes are world\u2019s 2nd most expensive"},"content":{"rendered":"


\nAerial view of luxury apartments in Singapore.
\nIn Singapore, 12 residential properties costing over US$25 million (S$34.33 million) have been transacted in the year to August 2018, according to Knight Frank\u2019s inaugural Global Ultra-Prime Market report.
\nThese 12 luxury homes were transacted at an average price of US$44.1 million (S$60.55 million), the second highest among 17 ultra-prime markets across the globe.
\nMore: 5 Singapore properties that \u2018Crazy Rich Asians\u2019 will love
\n\u201cSingapore is undoubtedly an ultra-prime market \u2013 although it sees the smallest number of transaction numbers compared to our other city markets,\u201d said the property consultancy.
\n\u201cTransactions at this price level (over US$25 million) are mainly found close to Orchard Road, with proximity to this being the key defining factor. Properties transacting at the top-end of the market tend to be large houses or bungalows with additional amenities such as a swimming pool and large gardens. There have been a handful of apartments in this space, but only large penthouses are likely to achieve this price point,\u201d noted Knight Frank.
\nMeanwhile, Hong Kong saw the highest average price of US$52.8 million, while Sydney took the third spot with an average price of US$43.8 million.
\nIn terms of transaction numbers, Hong Kong once again took the top spot with over 47 homes costing more than US$25 million changing hands in the year to August 2018. This was followed by New York with 39 units sold and London (38).
\nOverall, 116 ultra-prime residential properties were transacted in the first eight months of 2018 with a combined value of USD$5.1 billion. In comparison, last year recorded 155 transactions collectively worth US$6.9 billion.
\nKnight Frank defines ultra-prime residential markets as locations with at least three sales of homes costing over $25 million per annum over the past three years.
\nThe 17 markets include the four ski markets of St Moritz, Gstaad, Courchevel and Aspen. The second-home ultra-prime markets consist of Malibu and Palm Beach in the US, the Caribbean as a whole, plus Cote d\u2019Azur and Monaco in Europe. For cities, these include London, New York, Hong Kong, Los Angeles, Sydney, Miami, Paris and Singapore.
\nEstimate your maximum property affordability with our\u00a0Affordability Calculator
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore’s super-posh homes are world\u2019s 2nd most expensive<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of luxury apartments in Singapore. In Singapore, 12 residential properties costing over US$25...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-102194","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qAi","jetpack-related-posts":[{"id":104757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-is-7th-in-global-luxury-property-rankings\/","url_meta":{"origin":102194,"position":0},"title":"Singapore is 7th in global luxury property rankings","date":"March 7, 2019","format":false,"excerpt":"\r Luxury home prices in the city-state rose by over nine percent in 2018 \u2013 which marked the peak of its current market cycle. Singapore has emerged seventh in Knight Frank\u2019s Prime International Residential Index (PIRI 100), even after going through over 15 property cooling measures since 2010. This comes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116343,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-residential-transactions-continued-to-push-on-during-circuit-breaker\/","url_meta":{"origin":102194,"position":1},"title":"Private residential transactions continued to push on during circuit breaker","date":"May 14, 2020","format":false,"excerpt":"\r There were 286 caveats lodged from 7 April to 30 April, according to Knight Frank Singapore.\u00a0 Despite the closure of showflats and restrictions of viewing of properties because of the circuit breaker measures, Singapore\u2019s real estate market still showed life. \u201cA quick count of real estate caveats across all\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119931,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landed-homes-market-to-see-increased-activity-this-year\/","url_meta":{"origin":102194,"position":2},"title":"Landed homes market to see increased activity this year","date":"January 29, 2021","format":false,"excerpt":"\r Knight Frank noted that 253 landed homes were transacted in the second half of 2020, up from the 108 units shifted in 1H 2020 and the 126 units sold in 2H 2019. 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