Prime residential capital value see modest rise in 2024

Singapore’s ranking improved, climbing four spots to 25th.

The prices of luxury homes in Singapore averaged $2,432.43 (US$1,800) per square foot last year, reflecting a slight growth of 1.1% from the previous year, according to Savills World Research.

In its latest World Cities Index that monitors 30 cities globally, Savills said last year’s growth was slightly slower than 1.3% in 2023, but more positive than the -3.9% to -2% projected last year. This expansion also helped Singapore land 25th, an improvement from 29th previously.

Savills expects the city-state to see a decline of 1.9% to flat capital value growth this year.

“Capital values for luxury apartments in Singapore are expected to remain stable in 2025. However, because of the likelihood of greater exchange rate volatility, when expressed in US dollars, prices may swing either way,” said Alan Cheong, executive director, Research & Consultancy, Savills Singapore.

Overall, Dubai, Sydney, and Madrid topped the list and are projected to see growth between +4% to 9.9%.

$1 = USD0.74

Follow the link for more news on

Savills

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia