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In Singapore, there are few bargains for luxury homes.

Priyesh Shah recently looked at more than 12 luxury condominiums in Singapore when looking for a permanent home for a young family. Natives in New Jersey have been working in Singapore for eight years and, like many others, wanted the recession caused by the coronavirus to be a good buying opportunity.

Instead, technical experts have noticed that prices have risen very little and many new condos are quickly skyrocketing. β€œIt’s a stable market with no ridiculous deals,” says Shah. “I don’t think it works that way here.”

Mr. Shah has since offered a property.

Some developers cut prices by as much as 10% during the partial blockade this summer, but the luxury home market in this thriving Southeast Asian island nation is faster than most other cities in the world. I have recovered. According to government data, 2,177 apartments were sold between January and September in central Singapore, where home prices are high, up from 1,797 in the year-ago quarter. The median per square foot also rose 7.5% to $ 1,705.

Among the new homeowners are Chinese tycoon Huang Youlong, who bought a penthouse for $ 20.6 million from Kishin RK, a descendant of billionaire real estate, according to people familiar with the deal.

In Singapore, there are few bargains for luxury homes.

Source link In Singapore, there are few bargains for luxury homes.

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