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The Most Expensive Residences in Singapore by Neighbourhood – Feb 2017

The Most Expensive Residences in Singapore by Neighbourhood – Feb 2017

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Singapore is also one of the wealthiest cities in the world. In fact, Business Insider picked it as the #1 wealthiest city in 2016. Given this, it is not surprising that Singapore is also one of most expensive real estate markets in the world. Given this, one must wonder: just how nice and costly can homes in Singapore be?

From this point of view, buying a home is one of the most important financial decisions one can make in her lifetime. Purchasing a luxurious home is an even bigger investment, and one must tread carefully when shopping for a multi-million dollar home. To explore just how expensive and nice the best homes in Singapore can be, we collected data on the most expensive homes in Singapore by neighbourhood. If you are looking to purchase a luxurious apartment or home in Singapore, our study below might be of value.

Methodology

To look for the priciest homes in Singapore, we searched on PropertyGuru for the most expensive homes by neighbourhood. We collected data for all 28 districts, and rank ordered properties by 1) total price and 2) by price per square foot. To calculate each property’s price per square foot, we divided the total price by either total land size or total property size, whichever was bigger. This was done to measure how much surface area an individual ends up owning by purchasing the property. In the case of private residences with front and backyards, this would be the total land size. For townhomes or villas with multiple floors, on the other hand, this would be the total property size.

General Discussion of Results

Overall, we found that the most expensive homes in each of the 28 neighbourhoods generally ranged from S$4.4 million to S$106 million. While the difference was humongous, these homes can all easily be considered to be “ultra” expensive. On the other hand, the price per square foot was consistent among the different areas, averaging to about S$2,289. However, we still saw some properties whose price per square foot reached above S$14,000. Either way, buying a property of this calibre is an enormous task that will most certainly require some assistance from bank funding. If you are looking for a jumbo-size home loan at great rates, you can check out our study on the best home loans in Singapore.

Orchard & Clementi Park Have the Most Expensive Home On Sale

On www.propertyguru.com.sg, the most expensive home in Singapore was in Orchard/River Valley. At S$106 million dollars, it’s actually not even a home, yet. Spanning across 29,000 square foot, this property is ready for development for anyone who’s rich and ambitious enough to create the house of his dream in this humongous area.

The neighbourhood that ranked second in our study was Clementi Park/Upper Bukit Timah area. It’s a humongous private property spanning 4,000 square foot and comes with a land area of 69,500 square foot, even bigger than the property we found in Orchard. Though it’s per square foot price was only around S$1,295, the total listing price was S$90mn.

The Most Expensive Residences in Singapore by Neighbourhood – Feb 2017

Photo of the Clementi Park Property Listing. Source: PropertyGuru

The Highest Cost Per Square Foot: Buona Vista, West Coast and Clementi New Town

Regarding price per square foot, we found two properties that were the highest in Singapore. The first one was located in Boat Quay/Marina area, with a listed pricing of S$5.2 million. This corner terrace had a listed land size of 349 square foot, which translates to roughly S$14,899.71 per square foot of cost. Even though this is an astronomical figure, the property had some very swanky photos on the listing like the one shown below.

The Most Expensive Residences in Singapore by Neighbourhood – Feb 2017

Photo of the Boat Quay Listing. Source: PropertyGuru

The second property was again found in Clementi Park/Upper Bukit Timah area. A part of the Clement Canopy condo, this unit was on sale for S$9.28 million with an area of 635 sq ft. This roughly translates to S$14,614 of per square ft cost, which is on par with the property we found in Boat Quay. Given the price, this property seems to come with some splendid amenities like the one shown below.

The Most Expensive Residences in Singapore by Neighbourhood – Feb 2017

Photo of the Clementi Park Property Listing. Source: PropertyGuru
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ValuePenguin is personal finance company based in New York. DJ is responsible for building ValuePenguin’s presence in Asia, from researching personal finance topics in the region to building relationships with financial and media institutions. He previously worked as an investment analyst at leading hedge funds in New York including Cadian Capital and Tiger Asia. His expertise is in the global technology, consumer and financial industries. He graduated from Yale University with a degree in Economics, and speaks Korean, English and Mandarin Chinese.

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