{"id":6694,"date":"2016-03-02T19:00:21","date_gmt":"2016-03-02T12:00:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-usd1-million-can-buy-you-in-singapore\/"},"modified":"2016-03-03T17:22:51","modified_gmt":"2016-03-03T10:22:51","slug":"what-usd1-million-can-buy-you-in-singapore","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-usd1-million-can-buy-you-in-singapore\/","title":{"rendered":"What USD1 million can buy you in Singapore"},"content":{"rendered":"


\nNot a lot of living space
\nAerial view of Luxury yacht in Keppel Bay at Singapore
\nFor USD1 million, you can purchase 452 sqft of prime real estate in Singapore (or a small studio apartment), making it the world\u2019s seventh most expensive place to buy luxury property, noted findings from Knight Frank\u2019s\u00a0Wealth Report 2016.
\nThe city-state fell two places from last year\u2019s report due to property price declines. According to the firm\u2019s Prime International Residential Index, luxury prices here dropped by 2.1 percent in 2015. This year, Knight Frank expects prices to slide further by 3.3 percent.
\n\u201cSingapore luxury property prices have dropped for several years now. The reasons for the fall are still in place \u2013 overall slowing economy, volatile financial markets, rising rates, and government cooling measures,\u201d said Tay Kah Poh, executive director and head of residential for Knight Frank Singapore.
\nMore: Is SG\u2019s real estate industry ready to roar again?
\nIn the report, Singapore was named the number two Asian city, behind Hong Kong, with the most number of super-rich individuals. In 2015, there were 2,360 ultra-high net worth individuals (UHNWIs) living here, with this figure expected to grow by 48 percent over the next 10 years.
\nAlice Tan, research head at Knight Frank Singapore, said \u201ca conducive business environment, clear regulatory framework and a progressive ecosystem of financial and business services have augmented its status amongst the wealthy as a preferred location to live and do business in Asia\u201d.
\nDespite the various measures put in place to curb excessive investment by foreign buyers, property investment remains a favoured asset allocation among the super-rich. In fact, 79 percent of those surveyed would invest in Singapore and UK homes.
\nMore: Why now might be a good time to buy a residence in Singapore
\nThe report also found that the three main concerns among UHNWIs in Singapore are succession\/inheritance issues, the global economic situation, and stock market volatility.
\nThe report polled 400 private bankers, including 30 from Singapore.
\nThis article was originally published on PropertyGuru.com.sg\u00a0on\u00a02 March 2016.
\n
\nSource : property-report.com
\nRead more…What USD1 million can buy you in Singapore<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Not a lot of living space Aerial view of Luxury yacht in Keppel Bay at...<\/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-6694","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\/p75ss1-1JY","jetpack-related-posts":[{"id":8207,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/1-million-buys-you-452-sq-ft-in-singapore\/","url_meta":{"origin":6694,"position":0},"title":"$1 million buys you 452 sq ft in Singapore","date":"March 2, 2016","format":false,"excerpt":"\r Aerial view of luxury apartments in Keppel Bay, Singapore. For US$1 million (S$1.4 million), you can purchase 452 sq ft of prime real estate in Singapore (or a small studio apartment), making it the world\u2019s seventh most expensive place to buy luxury property, noted findings from Knight Frank\u2019s Wealth\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97430,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-luxury-home-prices-up-11-5-percent-in-first-half-2018\/","url_meta":{"origin":6694,"position":1},"title":"Singapore luxury home prices up 11.5 percent in first half 2018","date":"September 7, 2018","format":false,"excerpt":"\r View of luxury apartments in Singapore. Leading the growth in luxury home prices, Singapore, along with Tokyo, bucked the trend of falling prime prices across the world, as prices of luxury homes within the city-state rose 11.5 percent in the first half of 2018, reported Singapore Business Review citing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100764,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-surpasses-hk-in-luxury-home-price-growth\/","url_meta":{"origin":6694,"position":2},"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":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":6694,"position":3},"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":104757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-is-7th-in-global-luxury-property-rankings\/","url_meta":{"origin":6694,"position":4},"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":140650,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-singapore-prime-property-to-see-contrasting-fortunes-as-luxury-homes-globally-set-to-trend-higher-in-2024\/","url_meta":{"origin":6694,"position":5},"title":"Hong Kong, Singapore prime property to see contrasting fortunes as luxury homes globally set to trend higher in 2024","date":"December 11, 2023","format":false,"excerpt":"\r The worst is likely over for the luxury property segment globally, with prime home prices set to rise more than previously anticipated in 2024, according to Knight Frank\u2019s Global Prime Residential Forecast.\r \r Source : South China Morning Post\r Read more...Hong Kong, Singapore prime property to see contrasting fortunes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/6694"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=6694"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/6694\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=6694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=6694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=6694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}