Singapore luxury home prices up 7.7% in 2018

Romesh Navaratnarajah26 Mar 2019

Luxury apartments in Singapore.

Singapore registered the third highest increase in prime residential prices at 7.7 percent, behind Berlin and Shanghai.

Prime residential prices across the world’s key cities eased significantly to just 0.4 percent during the second half of 2018, but overall increased by 2.3 percent across 2018, revealed Savills’ world cities prime residential index.

Singapore registered the third highest increase in prime residential prices at 7.7 percent, behind Berlin and Shanghai which saw prices climb nine percent and 7.9 percent respectively.

More: Here’s What The World’s Most Expensive Home Looks Like

Hong Kong posted the fourth highest hike in prices at 7.3 percent, followed by San Francisco (6.9 percent), Tokyo (5.7 percent) and Shenzhen (4.8 percent).

Nonetheless, Hong Kong remained that world’s most expensive city, with prices soaring 199 percent over the last 10 years, while Singapore settled in eighth place.

Tokyo, on the other hand, came in second, followed by New York, London, Shanghai, Sydney and San Francisco. Rounding off the top 10 list are Paris and Shenzhen.

“Without doubt, the world’s wealthy will continue to want to hold one or more world city prime residential properties as part of their investment portfolio, both as a store of wealth and as a base for work and leisure,” said Savills world research director Sophie Chick.

“But as cities reach maturity on the world stage there will be less potential for rocket fuelled price growth and we expect prime residential markets to settle a more steady growth trend over the foreseeable future,” she said.

“There will be exceptions as new global cities emerge or economic conditions improve. In the short term, it’s the European cities that are likely to see the highest rates of price growth, benefitting from Brexit, lower prices and renewed confidence in markets like Spain.”

Can you afford a million-dollar property in Singapore? Check your affordability now.


Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email


You may also like these articles

Small condos in Singapore CBD are 2nd most expensive globally

Two-bedders in Singapore's CBD cost about S$1.4 million on average.Two-bedroom condo units in Singapore’s central business district (CBD) cost approximately £781,000 (S$1.4 million) on average, rev

Continue Reading27 Sep 2018

Here’s what the world’s most expensive home looks like

24 Middle Gap Road in Hong Kong. Photo: Landscope Christie's Ageing but prestigious address in Hong Kong country park poised for record-breaking sale. By Property ReportThe Peak in Hong Kong continue

Continue Reading28 Sep 2018

Singapore is Asia’s second most expensive city for wealthy people

Singapore remains one of the most expensive cities.Singapore has been ranked as Asia’s second most expensive city to maintain an upscale lifestyle, revealed the latest Julius Baer Lifestyle Index.In

Continue Reading5 Dec 2018