RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Luxury home deals expected to rise this year: Knight Frank

Prices will continue to fall marginally.

Some investors will be lured back to Singapore's high end residential market this year, according to a report by Knight Frank.

Knight Frank said that the price decline seen in Singapore’s prime residential market is expected to persist at least until the end of 2016, following the government’s assertion that it has no plans to relax its property market cooling measures.

However, the continued drop in price of luxury properties has presented pockets of investment opportunities.

"We expect sale volumes to increase in 2016 and, due to the shrinking inventory of high-end homes, price falls within the prime sector will be less pronounced than those across the island as a whole," Knight Frank said.

Three cities are expected to see prime prices decline in 2016, namely Hong Kong, Singapore and Paris. Hong Kong (-5%) is forecast to overtake Singapore (-3.3%) in 2016 as the weakest-performing
luxury residential market. 

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