{"id":8207,"date":"2016-03-02T16:28:03","date_gmt":"2016-03-02T09:28:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/1-million-buys-you-452-sq-ft-in-singapore\/"},"modified":"2016-03-16T21:08:55","modified_gmt":"2016-03-16T14:08:55","slug":"1-million-buys-you-452-sq-ft-in-singapore","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/1-million-buys-you-452-sq-ft-in-singapore\/","title":{"rendered":"$1 million buys you 452 sq ft in Singapore"},"content":{"rendered":"


\nAerial view of luxury apartments in Keppel Bay, Singapore.
\nFor 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 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.
\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.
\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.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more… million buys you 452 sq ft in Singapore<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of luxury apartments in Keppel Bay, Singapore. For US$1 million (S$1.4 million), you...<\/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-8207","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\/p75ss1-28n","jetpack-related-posts":[{"id":6694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-usd1-million-can-buy-you-in-singapore\/","url_meta":{"origin":8207,"position":0},"title":"What USD1 million can buy you in Singapore","date":"March 2, 2016","format":false,"excerpt":"\r Not a lot of living space Aerial view of Luxury yacht in Keppel Bay at Singapore For 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8183,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-20022016-11032016\/","url_meta":{"origin":8207,"position":1},"title":"News Roundup (20\/02\/2016 \u2013 11\/03\/2016)","date":"March 11, 2016","format":false,"excerpt":"\r \u00a0 Our top Singapore and regional property stories. 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In a statement, the group said prices start from $655,000 for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/03\/HDB-Story-e1457528161245-1024x415.jpg?fit=1024%2C415&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":119931,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landed-homes-market-to-see-increased-activity-this-year\/","url_meta":{"origin":8207,"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. With demand for landed homes remaining healthy, Knight Frank expects to see increased activity in the landed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/Landed-homes-in-Singapore.jpg?fit=840%2C420&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":60070,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-prices-on-the-upswing\/","url_meta":{"origin":8207,"position":3},"title":"Luxury home prices on the upswing","date":"July 7, 2017","format":false,"excerpt":"\r Image: Martin Modern (Christopher Chitty) While it has taken a beating from the government\u2019s property cooling measures in recent years, luxury home prices in Singapore are now showing signs of recovery, reported Bloomberg. In fact, luxury home sales had been on the upswing even before some of the cooling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123712,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/perfect-ten-to-launch-for-sale-on-sunday-prices-start-from-2-5mil\/","url_meta":{"origin":8207,"position":4},"title":"Perfect Ten to launch for sale on Sunday, prices start from $2.5mil","date":"December 9, 2021","format":false,"excerpt":"\r Perfect Ten is a 230-unit project, offering two- and three-bedroom units. Prices range from about $2.5 million to $4.4 million. Perfect Ten, a freehold residential project by Hong Kong-based developer CK Asset Holdings, is set for launch on Sunday (19 December). Located at Bukit Timah Road in prime District\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/PERFECT-10.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113369,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/avenir-to-preview-with-early-bird-prices-from-2930-psf\/","url_meta":{"origin":8207,"position":5},"title":"Avenir to preview with early bird prices from $2,930 psf","date":"January 3, 2020","format":false,"excerpt":"\r Unit sizes range from about 527 sq ft for a one-bedroom apartment to 2,411 sq ft for a four-bedder. Photo: Guocoland The Avenir, a 376-unit, ultra-luxury condominium within the prime River Valley area in District 9, is set to open for preview today (3 January) at 6pm, reported The\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\/8207"}],"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=8207"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/8207\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=8207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=8207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=8207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}