07 Jun '11, 2pm

DTN Singapore: Luxury properties prove a tough sell: SINGAPORE: Sales of luxury properties in Singapore seems to...

DTN Singapore: Luxury properties prove a tough sell: SINGAPORE: Sales of luxury properties in Singapore seems to...

SINGAPORE: Sales of luxury properties in Singapore seems to be losing its shine and has slowed down in recent weeks. That is according to industry players who say that the segment has underperformed despite the overall property boom last year. Analysts said most buyers of luxury properties here, mainly foreign investors, are turning cautious about buying their next multi-million dollar home due to the uncertain global economy. Hamilton Scotts is one of the most anticipated super luxury properties to be launched in the last three years. The project costs more than S$100 million and it features a S$20 million en suite car porch. Each unit is selling between S$8 million and S$10 million each, or an average of S$3,800 per square foot. But sales at the Hamilton Scotts have been slow. Out of the 56 units in the property, only 19 have been sold at between S$3,000 and S$3,700 per ...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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