Singapore is 6th top market for super and ultra-prime properties

It is one of the two markets in Asia that made the top 10.

Singapore ranked 6th amongst the top markets for prime, super-prime and ultra-prime
properties globally, according to a report by Knight Frank.

The Lion City, alongside Hong Kong, were the only two markets in Asia that made the top 10.

According to the report, Singapore had 18 ultra-prime transactions and 121 super-prime transactions for the year.

In Singapore, US$1M can buy 34 square metres of prime property, making it amongst the priciest markets for prime properties.

Prime property prices in Singapore will continue to increase in 2023,  likely by 4%.

"The rising number of wealthy individuals is fuelling upward pressure on prime property prices," Nicholas Keong, Knight Frank Singapore's head of private office.