With these properties currently trading at significant discounts to historical peaks, a long-term strategy of investing now will reap rewards later.
THE Singapore luxury condo market has seen better days, with prices and volumes remaining well below the peaks last seen in the pre-Global Financial Crisis (GFC) property boom. Developers are still left with a substantial amount of unsold inventories and cooling measures have put a lid on demand. Hence, prices and volumes have remained soft. However, the luxury condo market is showing signs of thawing, with transaction volumes slowly creeping up, amid depressed prices, since the second half of 2014. In this article, we define luxury condos as non-landed private residential units located in the Core Central Region (CCR) that have transacted at prices above S$4 million.