The real estate business in Singapore is at its best in a long time. New properties arise on a weekly basis, and old and non-interesting properties are refurbished and updated. Singapore experienced the influx of investments two decades ago. And that resulted in the increase of the number of people. That were rich and that had a positive effect on real estate. Those people wanted better housing, and various companies were willing to provide it.
The rebirth of the luxury real estate business in Singapore
The highest peak, when it comes to price, of land in this city was in the late 2012 and early 2013. The prices during that time were high, but people didn’t buy high-end apartments, but the property they would use to build them. The price went down after that period, but high-priced properties are slowly returning to the market.
The latest proof that real estate market in the Singapore is at its best is the nine-figure price for an apartment. The property in question is the Wallich Residence penthouse which is located at the top of the tallest building in the Singapore. This is one of the most luxurious apartments you will find in this city. And it is a subject of many debates that center on the appraisal of this and similar apartments.
The debate is centered on the fact that the price of the apartment is too high and people are willing to pay it just because it is located at the top of the tallest building. Many believe that the actual price of the apartment should be closer to 25 million dollars, which is a price of other highly luxurious places in the Singapore.
The most expensive real estate in the Singapore
Ocean Drive, located at Sentosa is a masterpiece created by the Chan Wai Kin. This property is done in a Timur Design. And it looks like one of the best holiday resorts you ever were seen. This property costs 27 million dollars, and it’s worth every dollar.
The price of 18 million dollars is reasonable when you consider that One. Shenton is the located in the heart of the new city center. The apartment is at the best possible location for everything in the city is just a short car ride away.