Prime Luxurious Conominiums
As there are no restrictions to foreign ownership for condominiums, many Ultra High Networth Individuals (local and overseas) and Family Offices have been snapping up Singapore luxurious condominiums and Penthouses in prime locations.
Some widely reported transactions on Penthouses, amidst many others
It would be interesting to observe what some of the UHNWI are buying from the reported deals in the press. Many other 8 figures transactions have also been done but not highlighted. The below case studies are extracted from reports in the media.
James Dyson reportedly bought Singapore's most expensive penthouse
In mid 2019, it was widely reported that the British entrepreneur and his wife bought the Wallich Residence "super penthouse" in Singapore's tallest building, Guoco Tower, for $73.8 million Singapore dollars.
The 21,000-square-foot apartment, which spans three floors, is the largest non-landed residence in Singapore. It boasts a range of luxurious amenities, including an exclusive private swimming pool, cabana, jacuzzi room, bar facilities, and entertainment room.
penthouses are the hot favourites of uhnwi
In April 2020, in the midst of the COVID pandemic, it was also reported that the billionaire husband of actress Vicki Zhao forked out nearly $28 million for a mega-penthouse at Ardmore Park in April 2020.
There has been a rush of big-ticket purchases of luxury penthouses in the prime districts.
An 11,098 square foot, triplex penthouse at Boulevard Vue sold in 2019 for S$52 million. This transaction also meant that the 28-unit ultra-luxury condo had been fully sold.
At Boulevard 88, a penthouse of 6,049 sq ft, which is also the biggest in the ultra-luxury condo, was sold for S$31 million (S$5,125 per sq ft), according to a caveat lodged on June 3, 2019. Other penthouses at Boulevard 88 that were sold in 2019 include a 5,673 sq ft penthouse. And two other penthouses: a 5,683 sq ft unit went for $28 million ($4,927 psf) in March 2019; and a bigger penthouse of 6,028 sq ft fetched $29.53 million ($4,899 psf) in April 2019.
All the penthouses in Boulevard 88 were sold shortly after its launch in 2019.
Some would recall that in 2017, a super penthouse at Sculptura Ardmore was sold for over S$60 million or S$6,000 per sq ft.
And earlier on in 2015, it was also reported that one of the founders of Alibaba bought a S$51 million penthouse at Le Nouvel Ardmore , also in the prime Ardmore enclave.
At 3 Orchard By-the-Park, the 6,555 sq ft penthouse was sold in 2019 for S$31.5 million (S$4,805 per sq ft)
Large Exclusive Condominium Units And Penthouses In Singapore Continue To Attract UHNWI
Large exclusive penthouses and spacious units in Singapore's Core Central Region continue to attract Family Offices and UHNWI. In fact, such properties offer a level of privacy that is unmatched even by some of the Good Class Bungalows in the market.
During the global pandemic, we continue to see interest in such properties in the prime districts because the buyers are discerning enough to understand that such gems are very hard to come by. Some are also looking for whole floor or bulk purchases as well.
Depending on your investment objectives, we have the resources and network to bring you some of the finest deals in Singapore.
We are well positioned in the real estate industry to bring our clients some of the finest collection of choices in Singapore's prime residential market.
Not all large units may suit our clients' needs and objectives. It requires indepth ground knowledge of the preference of our esteemed cliente and what may suit their legacy planning in real estate.
A detailed discussion would be the best starting point to clinch your next luxurious property.
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