According to the latest data released by Savills,
the top-end of the Singaporean property market
continues to perform well. Prices of non-landed luxury property in the country remained steady in the first quarter of the year.
The average price reached SD2,269 per square foot over the period, up marginally by 0.5 per cent quarter-on-quarter from SD2,258 per square foot in the last three months of 2010.
Savills is predicting that there will be a sustained interest in luxury homes in the longer term, as the land supply within this market sector is limited.
"Well located luxury homes with good product offerings may continue to command premium prices. More overseas investors may also divert their investments here, as the strong Singapore dollar can help them hedge against any fluctuations in the global exchange rate," the latest report explained.
Meanwhile, in the rental market, the average monthly rent of luxury non-landed residential properties is also rising. Rents have increased for five consecutive quarters to SD5.43 per square foot in the first three months of 2011.
- Thursday 02 June 2011