25 Jun '15, 1am

Currency Matters in Singapore Property

Recently, Mr. Sun Tongyu, the co-founder of e-commerce giant Alibaba, bought a penthouse in the Le Nouvel Ardmore for $51 million, which translates to an impressive $3, 676 price per square foot. SRX Property defines an ultra-luxury property as a residential home valued at $20 million or greater. According to SRX Property, Mr. Sun is one of only eleven buyers of ultra-luxury properties in 2015. In comparison, there were 64 ultra-luxury transactions in 2010. What makes Singapore attractive to ultra-luxury buyers? There are many reasons, including economic stability, strong property rights, and the location of Singapore within Asia. For example, there is little doubt that one reason 2010 was a high water mark for ultra-luxury property deals was that overseas investors were looking for a safe haven to protect their money from the financial volatility of the world’s financial ...

Full article: http://www.srx.com.sg/ask-home-prof/8762/currency-matters...

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