Singapore is amongst strongest markets for global super-prime homes

In Q1, the Lion City recorded 37 transactions.

The Lion City emerged as one of the strongest markets for global super-prime homes, with transactions growing to 37 in Q123 from 23 in Q422.

Globally, Singapore ranked as the fifth strongest market, behind Los Angeles (46), New York (58), Hong Kong (67), and Dubai (88).

In Singapore, the average super-prime sales were recorded at US$15.6m.

Knight Frank, however, warned that Singapore's latest increase in foreign buyer stamp duty to 60% will likely impact demand for its super-prime homes in future quarters.

Globally, Knight Frank also sees "more subdued conditions" for the super-prime home market, with transactions likely to total $25-$27 billion for the full year.