Singapore’s luxury properties

NEWS

As the property investment activity in Singapore has gone international, investors need to stay updated with the Singapore luxury property news. This page will keep you updated on the property news in Singapore. In addition, it will also provide articles on guidance about how foreigners or local people can purchase luxury properties in Singapore. It will explain in more detail about stamp duty, property tax, capital gain tax, common pitfalls which will save you a lot of time and cost if you learn it the hard way.

Be it a novice or experience investor, stay updated with us to know more about the current market trend and able to make a better investment decision. Please contact us for more information about properties and we can help you in facing difficulties while investing in Singapore high net worth property.

Penthouse At Les Mansions Nassim Sells For S$75Million

A SPRAWLING penthouse unit at the 14-unit, ultra-luxury freehold condominium Les Maisons Nassim, developed by Shun Tak Holdings, fetched S$75 million in late October, based on caveat data seen by The Business Times (BT). 

The Price tag translates to S$6,210 per square foot (psf) given the strata area of about 12,077 square feet (sqft), the Urban Redevelopment Authority’s Realis database showed.

The apartment is the larger of the 2 penthouses at the low-rise nassim Road property development. Including this transaction, 3 Caveats have been lodged fro units at the 5-storey project

List Southeby’s International Realty executive director Lewis Cha told BT that based on known transactions in the past 20 years, the latest purchase “could well be the priciest penthouse ever sold in Singapore”.

Read More…

Prices of new luxury condos in Singapore climb

Prices of new luxury condominiums increased 5.2% y-o-y to $2,652 psf in 3Q2021 compared to $2,521 psf in 3Q2020. Resale luxury condo prices also rose by 7.1% y-o-y to $1,899 psf in 3Q2021 compared to $1,773 psf a year ago. 

According to Christine Sun, senior vice-president of research & analytics at OrangeTee&Tie, Singapore’s real estate industry has benefitted from the acceleration of inward foreign funds over the course of the Covid-19 pandemic.

New buyers have also entered the luxury residential market, such as budding entrepreneurs and individuals working in emerging industries like biomedical, fintech, and multinational technology companies, says Sun. In 2Q2021, private homes sales in the Core Central Region (CCR) rose by about 25% q-o-q to 1,930 units transacted. This is the strongest resale volume in this segment since 4Q2010 when 2,014 units were transacted.

Read More…

Who can afford to pay $138 million for this Marina Bay super penthouse?

A panoramic view of the iconic Marina Bay Sands and the Central Business District could well be the most pricey amenity in Singapore real estate.

A collection of five penthouses, put up for sale recently at Marina Bay Residences with an indicative price of $138 million, will give a sense of how much a buyer would pay for this sought-after view.

The maintenance fees and sinking fund for the five properties add up to about $20,000 every quarter. A foreign buyer would also have to pay an additional buyer’s stamp duty of $27.6 million.

The indicative price tag of $138 million works out to about $4,884 per sq ft (psf), which is more than double the overall median psf of the four main residential projects in the Marina Bay area.

Read More…

Le Nouvel Ardmore sees new high of $4,906 psf

The highest transaction record on a psf price basis was for a 5,360 sq ft unit at Le Nouvel Adrmore. The four-bedroom unit located on the ninth floor was sold for $26.3 million on Sept 16, which translates to a price psf of $4,906.

Le Nouvel Ardmore is a 43-unit ultra-luxury condominium project developed by Wing Tai Holdings and designed by famed architect Jean Nouvel. It was completed in 2014. The freehold building, located along Ardmore Park in prime District 10, contains mainly three- and four-bedroom units that start from 3,800 sq ft.

In 2015, the condo’s 13,875 sq ft triplex super penthouse was sold for $51 million to Alibaba co-founder and former Taobao president Sun Tongyu. To date, 31 or 72.1% of the units at Le Nouvel Ardmore have been sold based on caveats lodged, with an average price psf of $4,169 achieved.

Read More…

Penthouse at Eden Residences Capitol sold for $21.37 mil, hits new high of $3,233 psf

A 6,609 sq ft penthouse unit at Eden Residences Capitol changed hands on Aug 11 for $21.37 million. This is the first penthouse sold in the 39-unit luxury condo development. The transacted price works out to $3,233 psf, which makes tit the highest achieved at Eden Residences Capitol to date. The penthouse has five bedrooms and a study.
The development has a mix of three- to five-bedroom units including five penthouses. Unit sizes range from 2,120 sq ft to 6,609 sq ft.
Eden Residences Capitol was completed in 2015 by a consortium led by Perennial Holdings. It is part of an integrated development that includes Capitol Theatre and The Capitol Kempinski Hotel. The high-end mall at Capitol is linked underground directly to the City Hall MRT interchange station for the North-South and East-West Lines.

Read More…

Property price rises, construction delays could last for rest of year, survey finds

The construction industry’s challenges could continue for the rest of the year at least, despite support from the Government, trade associations and banks. This is expected to continue fueling demand and pushing property prices up, experts said. 

About 88 per cent of developers recently polled by the National University of Singapore (NUS) indicated they were “very concerned” about high labour costs in the next six months, higher than the 71 per cent in the first quarter.

Around 58 per cent said they were worried about elevated building material costs, compared with 45.8 per cent in the first quarter.

Read More…

Ultra-rich are driving a US$24 billion property frenzy in Singapore

In an exclusive Singapore neighbourhood shaded with rain trees, a local tech billionaire plunked down US$95 million for a mansion. Near an upscale shopping district, a Taiwanese family with a grocery empire spent US$216 million for all the units in a condominium development.

That’s the kind of money sloshing around Singapore’s red-hot residential market this year. To be exact: S$32.9 billion (US$24 billion) spent in the first half alone — the city’s biggest frenzy in more than a decade and double what was recorded in Manhattan over the same six months.

With inflation on many minds, the ultra-rich are stuffing cash into luxury properties around the globe, and in few places is the trend as apparent as in Singapore. 

Read More…

Tech Heads Snap Up Luxury Properties in Singapore

Good Class Bungalows (GCBs) are a hot commodity among tech entrepreneurs in the city-state, who are snapping up the exclusive properties amid an escalation in GCB prices.

Singaporean Chew Shou Zi, CEO of Chinese video sharing application TikTok is in the early stages of purchasing a 31,800 square foot property located in GCB district Queen Astrid Park, «The Business Times» reported on Friday.

Chew, 39, was appointed CEO in May, is expected to redevelop the 999-year leasehold property that costs S$86 million ($63.53 million), or $2,700 per square foot, the report (behind paywall) said.

Read More…

Pandemic may have boosted demand for Sentosa properties

The COVID-19 pandemic may have boosted demand for luxury properties on Sentosa following a relatively subdued market prior to the pandemic, reported TODAY.

Data from various property consultancies showed that sales transaction volume for non-landed and landed homes within Sentosa have increased from 2019 to 2020. Property prices have also risen.The hike in transaction volume and prices continued in the first half of 2021.

Analysts noted that the growing demand for properties on Sentosa is in tandem with the recovery seen in the broader housing market on mainland Singapore, particularly among luxury homes.

Read More…

Singapore records S$7.5 billion in luxury property transactions in first half of 2021

 

Amid rising wealth in Singapore, demand for luxury homes in the country is growing steadily, new research from Knight Frank has shown. In the first half of 2021, sales of luxury property transactions amounted to S$7.5 billion.

The total sales volume for prime non-landed residential properties in H1 2021 amounted to S$2 billion, the highest since H2 2010 where sales within the luxury market segment totalled around S$2.4 billion. Rebounding from the pandemic-led recession last year, sales activity in H1 2021 was double the amount of S$1 billion registered in the later half of 2020, and surpassed the S$1.7 billion transacted in the whole of 2020.

Read More…

Why Penthouses In Singapore Are Popular With Crazy Rich Asians

The stellar views and luxurious lifestyle associated with penthouses in Singapore still make these spacious apartments attractive to overseas buyers.

When it comes down to square footage, a bungalow in Singapore probably has more to offer and comes with the association of prestige and exclusivity. However, aside from the buying restrictions that govern landed properties, especially Good Class Bungalows (GCB)—which require the buyers to be citizens—penthouses mark a few other boxes on the checklist of ultra-high-net-worth (UHNW) individuals.

Read More…

Singapore Home Price Growth Quickens, Stoking Worries of Curbs

Singapore home prices grew at a faster pace last quarter, stoking concerns that the government could join other nations that are introducing measures to calm the property market.

Private property values increased 2.9% in the three months ended March 31, preliminary figures from the Urban Redevelopment Authority showed Thursday. That’s the biggest gain since the second quarter of 2018.

Read More…

Demand for luxury penthouses holds steady despite pandemic

Despite the pandemic and ongoing border closures, demand for penthouses has proven firm, with nine transactions so far this year.

While the recent surge in the number of community causes is a temporary setback, demand for luxury homes could gather pace again in the near future, especially as travel restrictions are eased, consultants said, pointing to interest from ultra-high-net-worth individuals (UHNWI) and foreign investors.

In addition, two penthouses were transacted in the Rest of Central Region (RCR) at the low-rise Meyer House on Meyer Road in district 15.

Read More…

Duplex penthouse for $5.3 mil

One of the two biggest penthouses at Pollen & Bleu is on the market for sale. It is a 2,831 sq ft, five-bedroom duplex penthouse — one of the two biggest in the 106-unit, eight-storey condominium at Farrer Drive, off Farrer Road.

Three of the bedrooms including the junior en suite master bedroom is on the first level. On the second level is the master bedroom with en suite bathroom. The fifth bedroom, which is also on the second level, has sliding glass doors opening out to the roof terrace with views of the greenery beyond. Alternatively, it can be used as a study room, a home office or family room.

Read More…

Biggest penthouse at Park Nova sold at $5,838 psf, a record for Orchard Boulevard area

On May 7, sales at Park Nova, Shun Tak Holdings’ luxury condo in Singapore’s Orchard Boulevard-Tomlinson area, began at 2pm for the three duplex penthouses. Bookings for the typical units began from 7pm. By the close of the evening, five units were sold for well over $100 million in sales, according to the developer in a statement today.

The two biggest five-bedroom penthouses in the 54-unit luxury condo at 18 Tomlinson Road fetched $34.438 million and $26.026 million respectively. The biggest penthouse of 5,899 sq ft garnered interest from more than one party and almost had to be sold via balloting. However, one party prevailed and emerged the eventual buyer at $34.438 million or $5,838 psf.

The transaction price of $26.026 million for the second biggest penthouse of 4,499 sq ft, worked out to $5,785 psf. The third and smallest penthouse of 3,229 sq ft is also believed to have been sold for above $17 million.

Read More…

CDL’s Irwell Hill Residences previews at prices from $2,500 psf

Singapore-listed property giant City Developments Ltd (CDL) will preview Irwell Hill Residences on March 27, with its launch slated for April 10. It comes hot on the heels of Midtown Modern’s launch the weekend before — March 19 to 21— where 61% of the 558 units were snapped up at an average of $2,800 psf.

The larger of two penthouses at Midtown Modern was sold for $14.83 million ($4,213 psf). The buyer is said to be a Singapore citizen who wanted the penthouse for his own use. The deal was brokered by SRI.

Property consultants and agents that The Edge Singapore spoke to reckon that sales at Irwell Hill Residences are likely to be equally strong. “It’s located in District 9, and with absolute prices starting from $998,000 for a studio unit, we can expect another positive take-up rate two weeks down the road,” says Ismail Gafoor, CEO of PropNex, one of the five joint marketing agencies for the development together with ERA Realty Network, Huttons Asia, OrangeTee & Tie and SRI.

Read More…

5 Marina Bay penthouses on sale for $138m may be combined to create 24-bedroom unit

Five penthouses at the 99-year leasehold Marina Bay Residences have been put on the market collectively, with an indicative price of $138 million.

When combined, they will create a super penthouse boasting 28,258 sq ft of strata area across five storeys, said exclusive marketing agent Tristar Properties.

This amalgamation will be subject to internal staircases being built to connect the units, if the necessary approvals are obtained. Super penthouses typically have a minimum size of 10,000 sq ft.

Read More…

Who can afford to pay $138 million for this Marina Bay super penthouse?

A panoramic view of the iconic Marina Bay Sands and the Central Business District could well be the most pricey amenity in Singapore real estate.
A collection of five penthouses, put up for sale recently at Marina Bay Residences with an indicative price of $138 million, will give a sense of how much a buyer would pay for this sought-after view.
The maintenance fees and sinking fund for the five properties add up to about $20,000 every quarter. A foreign buyer would also have to pay an additional buyer’s stamp duty of $27.6 million.
The indicative price tag of $138 million works out to about $4,884 per sq ft (psf), which is more than double the overall median psf of the four main residential projects in the Marina Bay area.

Read More…

$48m Penthouse among 538 Canninghill Piers units sold at launch

CanningHill Piers’ sole penthouse, which boasts panoramic views of the city and the Singapore River, was sold for $48 million during the development’s launch on the weekend.

It was among 538 units of the project by City Developments Limited (CDL) and CapitaLand Development (CLD) that were snapped up.

The 696-unit, 99-year leasehold luxury condominium is part of an integrated development coming up on the site of the former Liang Court shopping mall, Novotel Singapore Clarke Quay hotel and Somerset Liang Court.

Read More…

REGISTER YOUR INTEREST

Property Viewing Strictly Via Appointment Only. Kindly Contact Our Developer Sales Team At +6569028874.

LUXURY PROPERTIES

Comfortable living

Contact Us

Direct Developer Sales

kumar@corecentralcondo.com.sg

+6569028874

error: