Introduction
Singapore’s property market has long been regarded as one of the world’s most prestigious and stable. According to the latest Savills Prime Residential Report 2025, Singapore has overtaken London, Hong Kong, and New York to become the world’s costliest prime residential market for foreign buyers.
This highlights Singapore’s limited land supply, global investor trust, and its continued status as a safe haven for wealth preservation.
Global Ranking of Prime Markets
Savills notes Singapore’s rise above other global hubs:
- London – Losing appeal due to Brexit uncertainty and higher taxes.
- Hong Kong – Political instability has reduced foreign interest.
- New York – Still significant but weighed down by property taxes and shifting demand.
Unlike these markets, Singapore offers stability, transparency, and resilience, attracting global high-net-worth investors.
Why Singapore is So Expensive
- Limited Land Supply – A small island nation with high housing demand.
- Consistent Wealthy Demand – Strong interest from China, India, Indonesia, and Asia’s wealthy.
- Cooling Measures (ABSD) – 30% foreign buyer tax signals regulation and stability.
- Safe Haven Factor – Political stability, robust legal systems, and economic strength.
Cost for Foreign Buyers
- 30% ABSD for foreigners, raising entry costs.
- Luxury Prices – Prime condos and landed homes in Orchard, Sentosa, and Marina Bay often cost tens of millions.
- Long-Term Value – Despite high costs, foreign investors buy for wealth preservation and appreciation.
Prime Hotspots in Singapore
- Orchard Road / River Valley – Exclusive luxury condos.
- Sentosa Cove – The only area allowing foreign-owned landed property.
- Marina Bay – Iconic skyscrapers and business hub living.
- Holland Village & Tanglin – Lifestyle charm for expats and families.
Market Trends & Future Outlook
- Resilient Prices despite cooling measures.
- Strong Global Confidence – Ultra-wealthy still prefer Singapore.
- Sustainability in Demand – Driven by Singapore’s role as a financial and tech hub.
- Policy Adjustments – Even higher taxes may not deter UHNWIs.
Singapore vs Global Cities
- London: Losing global investors due to taxes.
- Hong Kong: Political risk.
- New York: Burdened by taxes.
- Singapore: Winning with safety, transparency, and stability.
Conclusion
Singapore has officially become the world’s costliest prime residential market for foreign buyers. Despite high ABSD and strict measures, strong investor demand, scarce land, and global trust keep prices buoyant.
For the world’s wealthy, Singapore remains the gold standard of luxury real estate—a market defined by prestige, safety, and long-term value.
