View Full Version : Singapore Set New Property Record
Singapore Set New Property Record
August 30, 2011
A 3,003 square ft four-bedroom apartment off Orchard Road has been sold to an overseas buyer for S$19mn (US$15.7mn), setting a new record in property prices.
According to The Straits Times, the Marq on Paterson Hill already held the record of highest price per square foot at S$5,842 (US$4,847) when it was launched in 2007. With the newest sale, the price per square foot jumped to S$6,400 (US$5,310).
The Marq is a freehold condominium comprising 66 units ranging in sizes from around 3000 square ft to 15,000 square ft in two 24-storey buildings, one of which features private pools for all units.
The four-bedroom sale is believed not to include a private pool.
Despite a few high end sales, the luxury home market in Singapore is declining. According to real estate services firm, CB Richard Ellis, Singapore luxury home prices declined by 1.7 per cent in April-June from the preceding quarter. Average rents fell by 1.9 per cent as completed units came onto the market.
“Tightened mortgage lending and rising interest rates continued to impact on buyer demand in most Asian markets in the second quarter of 2011,” noted CBRE.
Wow...19 mil can get many landed homes.. :p
kingkong1984
30-08-11, 18:52
Not ur usual buyer.
Not ur usual buyer.
The agent just showed them the most expensive property by psf.
These rich guy came with an intention to break the psf record by a large percentage! He came with a clear objective! Is he interested to buy my property at record psf for my district too? :D
Hot $$ rushing in!! They just wanted to park some of their $$ into some of the safe haven country like S'pore.. 19mil for them is nothing.:D
Hot $$ rushing in!! They just wanted to park some of their $$ into some of the safe haven country like S'pore.. 19mil for them is nothing.:D
You calling S'pore safe haven? In what way? S'pore depends heavily on exports. So if major economies slow down S'pore will also follow. Safe haven are countries that are self sufficient and have internal consumer demand.
You calling S'pore safe haven? In what way? S'pore depends heavily on exports. So if major economies slow down S'pore will also follow. Safe haven are countries that are self sufficient and have internal consumer demand.
So can u name which country??
So can u name which country??
And that country must not be debt ridden.
You calling S'pore safe haven?
No war, no nuclear plants, no earthquake, no hurricanes. Occasional flash flooding, and some dengue hotspot are about most dangerous thing can happen.
Separate your $$$ n put in different bank acc got insurance guarantee also. No extradition treaty for $$$ with indo, also if one got tons of $$$ to "place"
Relatively we r safer ya.
You calling S'pore safe haven? In what way? S'pore depends heavily on exports. So if major economies slow down S'pore will also follow. Safe haven are countries that are self sufficient and have internal consumer demand.
I don't understand what you are talking about.
thomastansb
30-08-11, 23:27
To me, Singapore is the safest in the east. In the west will be Switzerland. No other places already. If you know of a first world country immune to recession and self sufficient, let me know. No disaster also, stable politics, low crime rate etc.
You calling S'pore safe haven? In what way? S'pore depends heavily on exports. So if major economies slow down S'pore will also follow. Safe haven are countries that are self sufficient and have internal consumer demand.
You calling S'pore safe haven? In what way? S'pore depends heavily on exports. So if major economies slow down S'pore will also follow. Safe haven are countries that are self sufficient and have internal consumer demand.
n 1 more thing, by your definition, then no country is a safe haven and the world is too interlinked now. Even China also imports heavily, so very hard to be self sufficient lah.
thomastansb
30-08-11, 23:43
Anyway, looking at self sufficient and internal demand is plain suicidal. There are so many other factors.
n 1 more thing, by your definition, then no country is a safe haven and the world is too interlinked now. Even China also imports heavily, so very hard to be self sufficient lah.
You calling S'pore safe haven? In what way? S'pore depends heavily on exports. So if major economies slow down S'pore will also follow. Safe haven are countries that are self sufficient and have internal consumer demand.
We got 2xIR now to support the economy.... Ball game changed liao....:D
No war, no nuclear plants, no earthquake, no hurricanes. Occasional flash flooding, and some dengue hotspot are about most dangerous thing can happen.
Separate your $$$ n put in different bank acc got insurance guarantee also. No extradition treaty for $$$ with indo, also if one got tons of $$$ to "place"
Relatively we r safer ya.
Our banks are among the highest rating....
n 1 more thing, by your definition, then no country is a safe haven and the world is too interlinked now. Even China also imports heavily, so very hard to be self sufficient lah.
No wonder I still can't get my answer from revhappy when I asked "so name which country is consider safe haven?".. as he said S'pore is not consider as a safe haven country.
Our banks are among the highest rating....So are our port and aviation industries. :D
You calling S'pore safe haven? In what way? S'pore depends heavily on exports. So if major economies slow down S'pore will also follow. Safe haven are countries that are self sufficient and have internal consumer demand.
How safe was it during confrontasi - why do we have 5 powers agreement?
In the 60's it was under direct military threat.
During the AFC why do you think a lot of alleged under the table money went to Suharto?
We are only safe until those around us decide to make it not safe.
Mr Hopalong can escape from Whitely rd.
Now does this make us so bad no one will want to come here - of course not.
But let's also not fool ourselves into thinking we are some kind of impregnable island fortress immune to the outside world....... Eternal vigilance etc....
If I have 19m I want to stash away safely why not just put it in a bank? Do we know where the buyer is from? Are they more likely to be interested in cleaning that safety? :beats-me-man:
H
If I have 19m I want to stash away safely why not just put it in a bank? Do we know where the buyer is from? Are they more likely to be interested in cleaning that safety? :beats-me-man:I'll buy 5 different properties and collect up to $25k rental a month and live like a prince! :spliff: But I don't have 19m leh! :tongue3:
You only need 10mil to have $25k per month @ 3% rental yield. Put 9mil in other investment avenues.
I'll buy 5 different properties and collect up to $25k rental a month and live like a prince! :spliff: But I don't have 19m leh! :tongue3:
You only need 10mil to have $25k per month @ 3% rental yield. Put 9mil in other investment avenues.Good call... now a days with rental prices weakening and property prices still going strong, hard to say but yes, the remaining can diversify and put into other investment portfolio... hahaha! I can keep on dreaming! :spliff: Good for the soul! :cheers1:
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