Six most expensive neighborhoods in Singapore
The costliest has a median sale price of $6m+ for a new condo.
Singapore Business Review sought expert’s help from Savills’ Senior Director Alan Cheong to come up with the following list of the city’s most expensive neighborhood based on median sale price for non-landed 99-year condo in 4Q12.
District 6 tops the list after it posted an average sale price of $6.43m for two contracts of condos with an average size of 2,100-2,200 square feet.
Cheong comments that in the near term, private residential prices are bifurcating with healthy sales from D’Leedon’s recent discounting weighing down price indices for the Core Central Region whilst prices for Outside Central Region continue their rise due to the swarm of mass market buyers who are undeterred by the latest cooling measures.
He cautions though that once stocks from D’Leedon are cleared, the price indices from the Core Central Region would likely bounce up sharply.
“Over the longer term, notwithstanding more supply in future, the residential sector still stand to reap the greatest windfall from the recent population policy putsch,” he said.