{"id":70524,"date":"2017-10-31T11:26:33","date_gmt":"2017-10-31T04:26:33","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-of-posh-high-rise-homes-to-grow-further\/"},"modified":"2017-10-31T16:02:49","modified_gmt":"2017-10-31T09:02:49","slug":"sales-of-posh-high-rise-homes-to-grow-further","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-of-posh-high-rise-homes-to-grow-further\/","title":{"rendered":"Sales of posh high-rise homes to grow further"},"content":{"rendered":"


\nDemand for upscale apartments located in high-rise buildings in prime locations here have risen over the past three and a half years, according to Leong Boon Hoe, CEO of List Sotheby\u2019s International Realty (LSIR), Singapore.
\nCiting URA and LSIR data, he pointed out that sales of non-landed homes costing over $5 million have increased from 135 units in 2014 to 161 units and 244 units in 2015 and 2016 respectively. For 2017, 203 units have been purchased during the first seven months, with the overall figure expected to surpass last year\u2019s.
\nDuring the period, about 50 percent of such upscale dwellings in Singapore were purchased by foreigners, with those from China accounting for the largest share at around 20 percent, followed by Malaysians and Indonesians.
\nMoreover, Leong noted that Singapore\u2019s capacity for high-rise luxury homes has yet to reach its full potential. This is because the relocation of Paya Lebar Air Base in 2030 will free up 800ha of land for more skyscrapers, and this area is larger than Ang Mo Kio.
\nIn addition, he revealed that the Wallich Residence in Tanjong Pagar Centre emerged as the world\u2019s 9th most luxurious apartment, with psf price of $3,227. It is also Singapore\u2019s tallest building with a height of 290 metres.
\n\u201cOwning an abode in Singapore\u2019s coveted tall residential buildings are huge draws, but more importantly Singapore\u2019s high-rise luxury apartments are competitively priced when compared to similar apartments in other global cities,\u201d he said.
\nNotably, LSIR has been appointed to market the posh apartments in Wallich Residence across the globe, with exclusivity in the US and Hong Kong. These units include the 21,108 sq ft super penthouse, which is the largest of its kind here.
\nMeanwhile, Opus Hong Kong and London\u2019s One Hyde Park secured the top two spots in LSIR\u2019s ranking at $14,659 psf and $13,545 psf respectively in Singapore dollar terms.
\nCompleting the top five are Monaco\u2019s Tower Odeon ($12,170 psf), as well as 432 Park Avenue ($9,219 psf) and One57 ($8,204), both in New York.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Sales of posh high-rise homes to grow further<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Demand for upscale apartments located in high-rise buildings in prime locations here have risen over...<\/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-70524","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-ilu","jetpack-related-posts":[{"id":111977,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/midwood-condominium-sees-24-units-sold-during-launch-weekend\/","url_meta":{"origin":70524,"position":0},"title":"Midwood condominium sees 24 units sold during launch weekend","date":"October 29, 2019","format":false,"excerpt":"\r Developer Hong Leong Holdings has sold 24 units out of the 50 it released over the launch weekend of its Midwood condominium, reported The Business Times. The 99-year leasehold project\u2019s apartment sizes range from 484 sq ft for single-bedroom units to 1,259 sq ft for four-bedroom units. Selling prices\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/10\/Arrival-court-midwood.jpg?fit=810%2C450&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":55577,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-posts-higher-sales-in-upscale-condos\/","url_meta":{"origin":70524,"position":1},"title":"Singapore posts higher sales in upscale condos","date":"May 22, 2017","format":false,"excerpt":"\r Better sales in 2016 can be attributed to a good selection of choice units in completed developments such as\u00a0Tomlinson Heights, Leedon Residence\u00a0(pictured) and TwentyOne Angullia Park (Image: Artist\u2019s Impression). Sale of luxury condos and private apartments costing at least S$10 million increased to 36 units last year, reported The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103228,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-may-sell-units-in-st-regis-residences-due-to-strong-interest\/","url_meta":{"origin":70524,"position":2},"title":"Developer may sell units in St Regis Residences due to strong interest","date":"January 23, 2019","format":false,"excerpt":"\r The Ritz-Carlton Residences was completed in 2011 and comprises 58 three- and four-bedroom apartments spread over a 36-storey tower. (Photo: CDL) City Developments Limited (CDL) has recently received numerous enquiries for St Regis Residences. Hence, it may consider releasing apartment units currently held for investment soon, revealed its parent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-of-singapore-high-end-apartments-reach-11-year-high\/","url_meta":{"origin":70524,"position":3},"title":"Sales of Singapore high-end apartments reach 11-year high","date":"September 23, 2019","format":false,"excerpt":"\r For the first eight months of this year, 68 condominium units in the city state were sold for at least $10 million each, the highest mark since the corresponding period in 2008. Sales of apartments in Singapore valued at $10 million have reached an 11-year high, buoyed by increased\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120388,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shrinking-sizes-of-new-condos\/","url_meta":{"origin":70524,"position":4},"title":"Shrinking sizes of new condos","date":"February 15, 2021","format":false,"excerpt":"\r Shrinking sizes of new condosThe impact of the government\u2019s move in 2018 to reverse the trend of developers constructing more shoebox units is starting to be seen. One such example is Hong Leong Group who commissioned bigger units in their projects such as Penrose.\u00a0 New condominiums in Singapore saw\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/Penrose-facade-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113578,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/20-the-avenir-units-sold-over-launch-weekend\/","url_meta":{"origin":70524,"position":5},"title":"20 The Avenir units sold over launch weekend","date":"January 13, 2020","format":false,"excerpt":"\r The weekend launch saw 20 of the 40 released units sold, with average prices hitting $2,960 to $3,560 psf. 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