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Ultra-wealthy prefer residential property as investment

Posted by Property Launch Invest on Thursday, 27 March 2014 in Property News

Property remains the favoured asset class among Ultra High Net Worth Individuals (UHNWIs), with almost a quarter of their investment portfolio accounted for by property, according to Knight Frank’s Wealth Report.

In its UHNWI Attitudes survey which was jointly launched with the Bank of Singapore and involved nearly 600 private bankers and wealth advisors, over 40 percent of respondents said their clients increased their allocation to property in 2013 while 47 percent expect it to rise further this year.

Residential property emerged as the most popular investment, followed by commercial and agricultural land and forestry.

In fact, 27 percent of their UHNWI clients were considering purchasing another home in the next 12 months.

Despite the popularity of residential property, transaction volumes of new sale non-landed luxury homes in Singapore’s District 10 sank from around 600 units in Q1 2013 to some 200 units in Q2. By the end of the year, the figure stood at just 100 units.

Meanwhile, prices in District 9 were at their highest level at the start of last year reaching around $3,000 psf. However, it gradually slipped to around $2,300 psf in Q4 2013.

District 1 also posted a decline, while District 2 saw prices increase from $2,300 psf in Q1 2013 to $2,600 psf in Q4 2013.

Over at Sentosa Cove, transaction volumes decreased for both non-landed and landed properties. The dip was most evident for non-landed properties as units sold plummeted from 25 in Q4 2012 to less than five in Q4 2013.

Prices for non-landed properties held firm at around $2,300 psf in Q4 2013 from the previous quarter, while landed homes saw prices fall quarter-on-quarter to $1,300 psf in the last three months of 2013.

Source: Property Guru 7th March 2014

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PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

Ultra-wealthy prefer residential property as investment

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