More deals clinched as sentiment improves, foreign buyers sniff around
Luxury apartment deals picked up in the second and third quarters of this year as a more cheerful mood spread to the upper realms of the private residential market.
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The number of apartments priced above $4 million changing hands rose rapidly from just 15 deals in the first quarter of this year to 87 in Q2 and 210 in Q3.
The total of 312 apartments in this price range sold in the first nine months of this year are 11 per cent more than the 280 transacted for the whole of 2008, which was generally a quiet year for the Singapore residential market following the global financial crisis, notes CB Richard Ellis (CBRE). It analysed caveats information from URA’s Realis system up to Oct 12.
During 2007 – the peak year for the luxury housing market – a total 1,740 apartments were sold at over $4 million each. Continue reading
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