23 Feb '17, 7am

Surge of interest in penthouses

Surge of interest in penthouses

Hallmark Residences (Photo: Christopher Chitty) There seems to be a perfect storm brewing at the top of many luxury developments around Singapore. A combination of factors has seen a surge of interest in penthouses, even while property prices have, on the whole, fallen to 2009 levels. Firstly, there has been an uptick in the overall housing market in the past few months. January, for example, saw a 17.6 percent increase in unit sales year-on-year, surely a good sign. But when one enters the land of the penthouse, things change even more. There is an oversupply in standard units across the country, which suggests prices may fall yet further, increasing purchases as the market reaches the optimal price point for many buyers. This is even more true for penthouses. Penthouse prices have been falling steadily for the past five years – 20 percent down – while luxury homes in Lon...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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