The GCB market registered robust volumes at record prices in the first half of 2021. With 60 transactions in H1 2021, it has surpassed 2020’s full year volume of 44 transactions.
GCB activity was boosted by fresh demand from digital economy entrepreneurs and key executives, and continued demand from new citizens.
Activity in the Sentosa Cove landed segment picked up in H1 2021, as foreigners explored their landed housing options.
102 caveats were lodged for luxury apartments in the CCR with a total investment value of $1.424 bil in H1 2021, and on track to exceeding 2020’s full year volume, as average prices hit $3,824 psf in H1 2021.
CBRE Research believes that low interest rates and ample liquidity would continue to underpin demand in the luxury residential investment market.