22 Aug '11, 9pm

Luxury home prices fall 1.7% in Q2

SINGAPORE - Luxury home prices in Singapore fell 1.7 per cent in the second quarter from the previous three months, the biggest drop in CBRE's list of cities in its Asia Luxury Residential report. CBRE said that no new luxury residential projects were launched here during the second quarter as existing projects continued to struggle to attract buyers. Meanwhile, luxury home rents fell by 1.9 per cent quarter-on-quarter, attributed to the large number of projects that have been completed. On the upside, the transaction volume of luxury homes - based on CBRE's basket of transactions in the primary and secondary market - actually rose 23 per cent to 9,059 units in the second quarter, from 7,336 in the previous quarter. CBRE's Asia Luxury Residential report also covers Beijing, Shanghai, Guangzhou, Hong Kong, Bangkok, Ho Chi Minh City and Kuala Lumpur. Its Asian Luxury Residen...

Full article: http://www.todayonline.com/Business/EDC110823-0000287/Lux...

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