Rich buyers snubbed posh condos with only three luxury residential deals inked in Q3

Find out how much these units cost.

The luxury residential sales dearth continued in the third quarter, with only three luxury residential deals inked during the period.

According to Savills, these include a related party transaction of five units from Skyline 360° at Saint Thomas Walk, a 3,380-sq ft unit at Reflections at Keppel Bay sold for S$3,107 per sq ft, and a bulk sale of 12 Grange Infinite units.

The bulk purchase at Grange Infinite was made by Indonesian tycoon Tahir at S$2,050 per sq ft for 11 four-bedroom apartments ranging from 2,560 to 2,700 sq ft and S$1,950 per sq ft for a 6,039-sq ft penthouse. 

“These transactions showed a further softening of prices in that segment. According to REALIS, the rest of the transactions of residential properties sold for no less than S$10 million were nine landed houses, of which five were good class bungalows,” noted Savills.