{"id":3197,"date":"2015-11-19T05:31:21","date_gmt":"2015-11-18T21:31:21","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=3197"},"modified":"2022-07-01T03:36:44","modified_gmt":"2022-06-30T19:36:44","slug":"singapore-has-worlds-weakest-luxury-residential-market","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/singapore-has-worlds-weakest-luxury-residential-market\/","title":{"rendered":"Singapore has world\u2019s weakest luxury residential market"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><h3><strong><i>According to the Knight Frank Prime Global Cities Index, prices of prime homes in Singapore continued to fall in the third quarter, as muted high-end demand resulted in a low number of transactions.<\/i><\/strong><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Singapore has been ranked as having the weakest-performing luxury residential market for the seventh consecutive quarter, the Knight Frank Prime Global Cities Index that tracks 34 cities worldwide found.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While prices of prime homes here fell the most, the rate of decline on a year-on-year basis slowed from a 15.2 per cent fall at the end of the second quarter, to 7.9 per cent at the end of the third.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cHowever, such transactions remain low as interest in high-end residential properties continues to remain muted due to additional buyer\u2019s stamp duty and uncertain market conditions,\u201d Alice Tan, head of consultancy and research at Knight Frank Singapore, told<\/span><a href=\"http:\/\/business.asiaone.com\/news\/spores-prime-property-market-weakest-the-world\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">The Business Times<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>The cities that showed great gains on the same index were Vancouver, Sydney and Shanghai, which recorded double-digit annual price increases.<\/p>\n<p><span style=\"font-weight: 400;\">Knight Frank\u2019s analysis by region shows Australasia leading the chart with an average annual price growth of 11.6 per cent, followed by North America at 8.5 per cent and Europe at 0.8 per cent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Check out<\/span><a href=\"http:\/\/business.asiaone.com\/news\/spores-prime-property-market-weakest-the-world\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">The Business Times<\/span><\/a><span style=\"font-weight: 400;\"> for more.<\/span><\/p>\n<p>If you found this article helpful, <a href=\"https:\/\/www.99.co\/?utm_source=blog%20main%20site%20conversion\">99.co<\/a> recommends <a href=\"http:\/\/D10 and D11 Condos: Luxury and value next to Downtown Line stations\">D10 and D11 Condos: Luxury and value next to Downtown Line stations<\/a> and\u00a0<a href=\"https:\/\/www.99.co\/singapore\/insider\/luxury-home-prices-decline\/\">Singapore\u2019s luxury home prices face 12th consecutive decline<\/a><\/p>\n<p>Looking for a property? Find your dream commercial property on Singapore\u2019s largest property portal <a href=\"https:\/\/www.99.co\/?utm_source=blog%20main%20site%20conversion\">99.co<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the Knight Frank Prime Global Cities Index, prices of prime homes in Singapore continued to fall in the third quarter, as muted high-end demand resulted in a low number of transactions. &nbsp; Singapore has been ranked as having the weakest-performing luxury residential market for the seventh consecutive quarter, the Knight Frank Prime Global&hellip;<\/p>\n","protected":false},"author":17,"featured_media":54039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53589,57131],"tags":[53859,53860,53861],"persona":[],"class_list":{"2":"type-post","12":"entry","13":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- 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