Singapore Residential MarketView H1 2017
- Sales of luxury homes rose in H1 2017 as buyers found value in the segment.
- 22 GCBs were sold in H1 2017, on par with 23 GCBs in H2 2016, boosted by smaller sized deals. The average price eased by 6.9% to $1,242 psf from end-2016.
- Eight bungalows in Sentosa Cove were sold in H1 2017. Prices for Sentosa Cove bungalows were 18.1% lower at $1,541 psf.
- Sales volume of luxury apartments was stable in H1 2017 with 170 units sold. Sales in 2017 are likely to surpass last year’s tally of 255 luxury apartment sales, which had been the highest volume in four years.
- The average price of luxury apartments rose from $2,396 psf in H2 2016 to $2,446 psf in H1 2017, although this was lower than $2,519 psf in H1 2016.
- Investor interest in luxury homes is likely to continue for the rest of 2017 despite prevailing cooling measures.