Luxury Condominium Market

Even with the marked downturn in the luxury condominium market, numerous luxury property units in the central region have noted price gains from 2006 till this year.

That said, the number of luxury condominium transactions in the first three quarters of 2023 was a quarter less than that in the same timeframe last year.

The recent 30% increase in the additional buyer’s stamp duty (ABSD) — essentially double that the initial amount— may have also deterred foreign home buyers.

The demand for luxury properties may have also turned from property transactions to the rental market, particularly with the limited supply of new developments in the pipeline.

Interested in the luxury market, be it as a homebuyer or a tenant? Contact us today and we’ll provide you the assistance you need.