by OrangeTee & Tie Pte Ltd.

Luxury condo sales hold strong in Q3 even as good class bungalow market softens

SRX Private Residential Data

Singapore, 18 Oct 2022

SINGAPORE - Demand for luxury condominiums in Singapore continues to hold strong, even as sales of top-end good class bungalows (GCBs) soften, said Huttons Asia in a report out on Tuesday. 

According to the report, 110 non-landed new homes with a price tag of $5 million and above were sold in the third quarter of the year, similar to the previous quarter. The total quantum buyers forked out for these homes was $1 billion this quarter, up 15.5 per cent from the second quarter.

Likewise, a recent report by OrangeTee & Tie showed that about 20 per cent of luxury condominiums priced at $5 million and above were bought by mainland Chinese nationals between January and August 2022.

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