{"id":32797,"date":"2016-11-03T12:35:14","date_gmt":"2016-11-03T05:35:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-prices-see-marginal-rise-in-q3\/"},"modified":"2016-11-03T12:49:39","modified_gmt":"2016-11-03T05:49:39","slug":"luxury-home-prices-see-marginal-rise-in-q3","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-prices-see-marginal-rise-in-q3\/","title":{"rendered":"Luxury home prices see marginal rise in Q3"},"content":{"rendered":"


\nLuxury homes here have seen only minimal price growth in the last quarter.
\nSingapore\u2019s luxury home prices grew by only 0.5 percent quarter-on-quarter in Q3 2016, according to a JLL report.
\nThe city-state joins 17 other cities tracked by JLL, which saw their rate of price growth decline from the previous quarter. These cities include Vancouver, Toronto, London, Sydney and Melbourne \u2014 all of which saw new taxes imposed within the last 12 months, either in the form of higher stamp duty, additional taxes for foreign buyers, or the closing of tax loopholes for non-residents.
\nHouse prices in Vancouver, for instance, increased by only 1.5 percent quarter-on-quarter in Q3 2016, down from its quarterly average of 8.1 percent over the last four quarters. This comes as a new 15 percent tax for foreign buyers, as well as talk of a further tax on vacant homes in 2017, are slowing sales there, said JLL.
\nPrime prices in London, on the other hand, dropped by 2.1 percent year-on-year, with stamp duty remaining a bigger influence on the prime London market than Brexit. In some instances, the uncertainty surrounding Brexit also served as a catalyst for overdue price reductions.
\nBut despite the prevailing muted sentiment across the Singapore private homes market, amid property cooling measures and a weak economy, the annual price recovery of Singapore\u2019s ultra-luxury homes has been steady for the past three quarters this year, said Alice Tan, Director and Head of Consultancy and Research, Knight Frank Singapore.
\nThe revival in demand for ultra-luxury homes was mainly supported by the search for safe-haven property investment destinations, as well as the increased value proposition compared to elevated home prices in other global gateway cities, she said.
\n\u201cHowever, growing headwinds, such as the prospect of a slow economy and possibly lack of an uplift in private home sales, could limit (the) price growth of ultra-luxury homes going forward in the next six months or so,\u201d she added.
\n\u00a0
\nCheryl Marie Tay, Senior Journalist at\u00a0PropertyGuru, edited this story. To contact her about this or other stories email\u00a0cheryl@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Luxury home prices see marginal rise in Q3<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Luxury homes here have seen only minimal price growth in the last quarter. Singapore\u2019s luxury...<\/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-32797","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\/p75ss1-8wZ","jetpack-related-posts":[{"id":100764,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-surpasses-hk-in-luxury-home-price-growth\/","url_meta":{"origin":32797,"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":140076,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-price-growth-slows-up-1-3-in-q3-2023-private-home-prices-post-marginal-increase-of-0-8-in-q3-2023-and-more\/","url_meta":{"origin":32797,"position":1},"title":"HDB Resale Price Growth Slows, up 1.3% In Q3 2023, Private Home Prices Post Marginal Increase of 0.8% In Q3 2023 and More","date":"October 30, 2023","format":false,"excerpt":"\r HDB Resale Price Growth Slows, up 1.3% In Q3 2023, Private Home Prices Post Marginal Increase of 0.8% In Q3 2023 and More24\u00a0October to 30\u00a0October 2023 Resale prices of Housing and Development Board (HDB) flats increased 1.3% in the third quarter of 2023, slowing from the 1.5% growth registered\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/10\/singapore-hdb-landscape-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":23022,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-luxury-home-prices-up-7-9-in-q2\/","url_meta":{"origin":32797,"position":2},"title":"S\u2019pore luxury home prices up 7.9% in Q2","date":"August 16, 2016","format":false,"excerpt":"\r Singapore was ranked ninth for global price growth, revealed Knight Frank\u2019s report.\u00a0 Singapore 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. According to the property consultancy, prime property corresponds to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/08\/Prime-price-performance-Q2-2016.jpg?fit=560%2C559&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":101542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-condo-prices-hit-record-high-in-q3\/","url_meta":{"origin":32797,"position":3},"title":"Luxury condo prices hit record high in Q3","date":"November 22, 2018","format":false,"excerpt":"\r View of luxury apartments in Singapore. The average price of resale luxury condos in Singapore reached a new record high of $2,063 psf in Q3 2018, likewise for new sales of high-end condos at $2,819 psf, according to a new report from OrangeTee & Tie. The most expensive luxury\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100646,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-rise-at-a-much-slower-pace-in-q3\/","url_meta":{"origin":32797,"position":4},"title":"Private home prices rise at a much slower pace in Q3","date":"October 29, 2018","format":false,"excerpt":"\r The URA\u2019s price index rose 0.5% in Q3, compared with the 3.4% increase in the quarter before. Private residential property prices grew at a much slower pace in the third quarter of 2018 as the government\u2019s latest round of property cooling measures in July took their toll. The Urban\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111882,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-up-in-q3-2019\/","url_meta":{"origin":32797,"position":5},"title":"Private home prices, HDB resale prices up in Q3 2019","date":"October 25, 2019","format":false,"excerpt":"\r Meanwhile, buyer demand for\u00a0HDB resale flats has remained surprisingly resilient, with 6,264 resale flats changing hands, which is almost on par with the 6,276 units transacted in Q2 2019. 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