27 Apr '18, 1am

Expatriate growth expected to fuel luxury apartment sales market

The expatriate population which has been subdued over the last half a decade is growing once more. This means strengthening demand for properties, in particular, luxury private ones . Luxury apartment sales expected to climb this year Overall private property prices have risen 3.1% in Q1, the steepest quarter-on-quarter climb since 2010 when the price index rose by 5.3%. Thus far, 19 luxury apartments priced above $10 million have already been sold. Topping the list is a unit at Gramercy Park which was sold for $24.5 million or $3, 362 psf. Out of the 19, almost half came from The Nassim with prices ranging between $14 million to $19.6 million. The Nassim is a freehold property developer by CapitaLand. In terms of price psf, Le Nouvel Ardmore in Ardmore Park sold at $4,098 psf with a total quantum price of $15.6 million. A penthouse here sold for a record-breaking $51 mill...

Full article: https://www.iproperty.com.sg/news/expatriate-growth-expec...

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