Singapore has the 13th most expensive luxury real estate market in the world, according to The Wealth Report 2012, compiled by Knight Frank.
According to the report, prime property in the lion city can fetch US$25,600 per sqm, or US$3,007 per sqft. Yet these prices do not even represent the peak in Singapore’s luxury markets: the report noted that prices of luxury property have decreased by 4.7 percent in the third quarter of 2011 from the year before. The report attributed the fall party to fears over a property crash in China in 2011. Full story
