Advertisement
Singapore markets closed
  • Straits Times Index

    3,173.55
    +1.62 (+0.05%)
     
  • S&P 500

    5,149.42
    +32.33 (+0.63%)
     
  • Dow

    38,790.43
    +75.63 (+0.20%)
     
  • Nasdaq

    16,103.45
    +130.25 (+0.82%)
     
  • Bitcoin USD

    63,985.93
    -3,898.50 (-5.74%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,718.02
    -4.53 (-0.06%)
     
  • Gold

    2,156.20
    -8.10 (-0.37%)
     
  • Crude Oil

    82.55
    -0.17 (-0.21%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • Nikkei

    40,003.60
    +263.20 (+0.66%)
     
  • Hang Seng

    16,529.48
    -207.62 (-1.24%)
     
  • FTSE Bursa Malaysia

    1,544.96
    -8.68 (-0.56%)
     
  • Jakarta Composite Index

    7,336.75
    +34.30 (+0.47%)
     
  • PSE Index

    6,848.43
    -4.86 (-0.07%)
     

Battered luxury residential market finally shows signs of life in H1

Buying interest ticked up at long last.

Singapore's policy-battered luxury residential market finally showed some stirrings of life in the first half, according to a report by CBRE.

Sales of luxury apartments priced above $5m surged by 45.7% compared to the second half of 2014, as developers stepped up efforts to market units.

Meanwhile, a total of 15 good class bungalows (GCBs) were sold in the first six months of the year at an average price of $1,442 psf. This is marginally higher than the $1,428 psf recorded in 2014.

Over in Sentosa, caveats were lodged for two bungalows in the first half, after having seen only three such transactions in the whole of 2014.

ADVERTISEMENT

"Going forward, luxury prices are likely to moderate slightly as they approach an equilibrium," CBRE said.



More From Singapore Business Review