Originally Posted by ahlahdin, 25 January 2010 5.13 pm
UBS Singapore Property 22 Jan 2010
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Early signs of demand for luxury homes, prices could rise 40% in 2010
In Dec 09, developers reported early signs of demand for high-end homes. Capitaland sold 126 units in Urban Suites at $3M - $5M each while villas in Sentosa sold for $14M - $22M each. Property consultants now believe luxury home prices could reach 2007 peaks for selected projects. We maintain our forecasts for prime prices but expect luxury prices to rise 40% to S$4000psf byend-2010.
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We also believe luxury residential prices could surprise the market. Over the last 2 months, developers and property consultants also saw early demand for high-end residential projects. We now forecast luxury prices separately and expect luxury residential prices to riseby40% while prime residential prices riseby20%.
