{"id":23022,"date":"2016-08-16T11:08:48","date_gmt":"2016-08-16T04:08:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-luxury-home-prices-up-7-9-in-q2\/"},"modified":"2016-08-16T11:11:11","modified_gmt":"2016-08-16T04:11:11","slug":"spore-luxury-home-prices-up-7-9-in-q2","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-luxury-home-prices-up-7-9-in-q2\/","title":{"rendered":"S\u2019pore luxury home prices up 7.9% in Q2"},"content":{"rendered":"


\nSingapore was ranked ninth for global price growth, revealed Knight Frank\u2019s report.\u00a0
\nSingapore was listed ninth on Knight Frank\u2019s Prime Global Cities Index for Q2 2016, with luxury home prices increasing 7.9 percent in the year to June 2016.
\nAccording to the property consultancy, prime property corresponds to the top five percent of the wider housing market in each city.
\nVancouver topped the list for the fifth consecutive quarter, with prices of high-end homes surging by 36.4 percent. However, price inflation in the Canadian port city is expected to slow after the British Columbia government unveiled a new 15 percent tax for foreign buyers, effective from 2 August.
\nOther top performers for the second quarter of 2016 include Shanghai (22.5 percent), Cape Town (16.1 percent), Toronto (12.6 percent), Melbourne (11 percent) and Sydney (10.2 percent) \u2013 all of which saw annual price growth reach double figures. Also in the top ten are Tokyo, Guangzhou and Seoul.
\nKnight Frank noted that majority of the top ten ranking cities have been on the receiving end of new cooling measures over the past year.
\nIn fact, the latest move by policy makers in Vancouver \u201cto apply an additional tax for foreign buyers has mirrored some of the similar moves over the last few years in Asia-Pacific\u201d, said Nicholas Holt, Asia Pacific Head of Research at Knight Frank.
\n\u201cHong Kong and Singapore, most notably, have added 15 percent additional buyers stamp duties, while the Australian states of Victoria, Queensland and New South Wales have also recently introduced various additional levies for foreign buyers,\u201d said Holt.
\n\u201cConversely, liberalisation is the flip side of protectionism; whilst we have seen foreign buyers penalised in certain markets, in Vietnam and Indonesia for example, we have seen policy makers go the other way with recent moves to relax rules for non-nationals,\u201d he added.
\nMeanwhile, Hong Kong has eclipsed Taipei to take the title of weakest-performing residential market. This comes as prime prices there dropped by eight percent in the year to June as supply increased and concerns over the slowdown in the local economy persisted.
\n\u00a0<\/p>\n

\u00a0
\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…S\u2019pore luxury home prices up 7.9% in Q2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore was ranked ninth for global price growth, revealed Knight Frank\u2019s report.\u00a0 Singapore was listed...<\/p>\n","protected":false},"author":1,"featured_media":23023,"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-23022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/08\/Prime-price-performance-Q2-2016.jpg?fit=560%2C559&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5Zk","jetpack-related-posts":[{"id":100764,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-surpasses-hk-in-luxury-home-price-growth\/","url_meta":{"origin":23022,"position":0},"title":"Singapore surpasses HK in luxury home price growth","date":"November 1, 2018","format":false,"excerpt":"\r View of luxury apartments in Singapore. Prices of high-end residential properties in Singapore, such as luxury condos, increased by 13.1 percent on an annual basis during the third quarter of 2018 due to bullish market sentiment in the first half of the year and a limited supply of such\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/11\/Knight-Frank-Global-Residential-Cities-Index-Q3-2018.jpg?fit=846%2C556&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":118605,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-ranked-48th-in-the-world-in-q2-2020-global-house-price-index-knight-frank\/","url_meta":{"origin":23022,"position":1},"title":"Singapore ranked 48th in the world in Q2 2020 global house price index, Knight Frank","date":"September 14, 2020","format":false,"excerpt":"\r The report\u00a0tracks the movement in mainstream\u00a0residential prices across more than 50 countries and territories\u00a0worldwide using official statistics.\u00a0 Singapore is placed 48th in the world for house price growth as the city-state saw home prices inch up by only 0.4% year-on-year during the second quarter of 2020, revealed Knight Frank\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97982,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-posts-9th-largest-growth-in-home-prices-globally\/","url_meta":{"origin":23022,"position":2},"title":"Singapore posts 9th largest growth in home prices globally","date":"September 17, 2018","format":false,"excerpt":"\r Despite several rounds of property cooling measures, home prices in Singapore are still rising fast, according to a Knight Frank report.\u00a0 Prices of private non-landed homes in Singapore grew by 9.3 percent on an annual basis, representing the ninth highest growth in the world during Q2 2018, according to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25431,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-home-prices-down-2-4-in-q2\/","url_meta":{"origin":23022,"position":3},"title":"S\u2019pore home prices down 2.4% in Q2","date":"September 8, 2016","format":false,"excerpt":"\r Weak economic growth, stringent property cooling measures and the strong US dollar continue to hamper property markets in Asia, said a Knight Frank report.\u00a0 Singapore saw house prices fall by 2.4 percent year-on-year in Q2 2016, effectively placing it among the worst performers, along with Hong Kong and Taiwan,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100743,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-the-worlds-hottest-luxury-property-market-while-vancouver-ranks-worst-says-knight-frank-global-index\/","url_meta":{"origin":23022,"position":4},"title":"Singapore the world\u2019s hottest luxury property market, while Vancouver ranks worst, says Knight Frank global index","date":"October 31, 2018","format":false,"excerpt":"\r Singapore\u2019s luxury home prices have surged to become the world\u2019s fastest appreciating market globally, overtaking Hong Kong where price growth has cooled such that it no longer ranks in the top dozen cities by price momentum, according to Knight Frank LLP. Hong Kong\u2019s luxury home prices rose 5.5 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95641,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sales-success-rate-down-despite-increased-activity\/","url_meta":{"origin":23022,"position":5},"title":"Collective sales success rate down despite increased activity","date":"August 8, 2018","format":false,"excerpt":"\r Property developers in Singapore have become more selective with their acquisitions. Despite the increased activity in the collective sales market, the success rate for en bloc sales has fallen significantly compared to 2016 and 2017 levels, reported Singapore Business Review citing Savills Asia. 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