Singapore Home Prices to Lag Behind Hong Kong on Building Boom

February 03, 2010 - Singapore

A bungalow on Singapore’s Ocean Drive, a stretch of luxury homes lined with Bentleys and Ferraris, sold for a record S$30 million ($21 million) in October.

In Hong Kong, a duplex a third the size went for almost three times as much the same month.

Singapore’s luxury-home prices won’t match Hong Kong’s because an increase in building ahead of two casino projects in the city-state will see nine times the number of new apartments going up over the next three years than in Hong Kong, according to real estate broker Savills Plc.

Bright year for luxury property

January 26, 2010 - Shanghai

Shanghai’s high-end property market will remain stable this year despite cooling measures introduced by the government, real estate analysts have predicted.

Scarcity of supply, sanguine economic outlook, coupled with continuously strong investment demand from wealthy Chinese as well as some overseas buyers who expect steady appreciation of the Chinese currency over the medium term, will continue to render strong support to the price of luxury homes in the city.

In Retrospect: 2009

December 29, 2009 - Singapore

At the end of fourth quarter of 2008 with the onset of the global financial crisis after the Lehman Brothers collapse (and the fiasco of sub-prime loans), doomsday scenarios for global financial markets were making the headlines every other day.

Analysts were claiming that the year of 2009 would be an uphill struggle.

Over a year later, financial and real estate markets in Asia and SEA have moved ahead albeit a stuttering start to the year. Analysts have attributed it to many reasons.

Luxury home sales in Hong Kong - September

October 15, 2009 - Hong Kong

Luxury home sales in Hong Kong, or those worth more than HK$10 million ($1,3 million), almost tripled in September to 1,351 from a month earlier, the Land Registry said Oct. 5. In September 2008, 168 transactions were completed.

Prices for these homes climbed as much as 28 percent in the first nine months of this year, Colliers International Ltd. said Sept. 28.