One look at Singapore’s property skyline is enough to back Christie’s Luxury Rankings that places the Lion City at 5th position on the World Luxury Real Estate Index. However, once you step into Singapore’s real estate market, the sheer number of residential options makes it fairly easy for anyone to get lost. What is a luxury condo in Singapore?
Is a condo in Punggol a luxury condo?
Is a 400 sq. ft. studio apartment in the prime district a luxury home?
Luxury condos in Singapore with ultra-modern facilities are built to keep up with international high-net worth individuals’ expectations seeking luxury condo in prestigious neighborhoods of Singapore. Based on these expectations, we bring to you a complete classification guide to help you unambiguously identify luxury condos in Singapore. The six properties enlisted below are six pointers set the star that a luxury condo is apart from the rest of the real estate blurb out there.
Without much ado, dive into information that makes you look beyond a real estate agent’s words and judge a luxurious piece of property in Singapore for yourself.
1. Location of Luxury Condo in Singapore
Even the smallest of players in the real estate market will tell you that location is the one move that can change your property game upside-down. Perhaps it is easier to understand what we’re talking about here if you compare the phrases “Luxury Condo in Choa Chu Kang” and “Luxury Condo in Orchard Road”. As innocent as the first label goes, there are higher chances if anyone in Singapore believing you if you speak the latter, even if you’re lying.
Speaking in the real estate jargon, a luxurious property’s location indirectly preps up its capital value. Locations determine desirability, which in turn affect demand, even amongst the rich. For even though luxurious properties are scattered in and out across Singapore, Marina Bay and Orchard Road condos along with those in Sentosa Cove are where the international who’s-who of Singapore reside. Nassim Road, Ardmore Park, Tomlinson Road, Cuscaden Walk, Cairnhill Circle, Paterson Road, Leonie Hill, Grange Road. You name it.
All this boils down to the basic rule of the thumb in the real estate market which is even true for luxurious properties. The higher the its desirability, the more its value. Which brings us to.
2. Space of Luxury Condo in Singapore
Singapore’s limited land means space itself is a luxury here. Especially with the government restricting foreign buyers from access to landed property under the Residential Property Act of 1973. No wonder luxurious condos are all about space in this Singapore.
Three-bedroom luxury condos are no less than 1,700 sq. ft. and four bedrooms one easily scales up to 3000 sq. ft. on an average. After all, luxury automatically spells the desire for a sprawling private space to cater even their most social requirements. As celebrity hairstylist Andy Lee puts it, he needed indoor space to put up a good sofa and TV set. He wanted to set up an indoor entertainment center for his friends in his three-bedroom condominium.
But don’t let this undermine the importance of outdoor space here. Vincent Ng, the Martial
Arts connoisseur values his outdoor cycling and running space, two necessities vital to his
Fitness regime. Like we’ve already said, space is a luxury in Singapore and the affluent pay enough to ensure that their luxury condo has ample of it at their disposal: both indoors and outdoors.
3. Entry Price of Luxury Condo in Singapore
It is a universally acknowledged fact that luxurious items are pricey. If everyone could own it, it wouldn’t be valued and it certainly wouldn’t have been a luxury. Speaking of prices, any five-year-old would be able to tell you the price of luxury condo in Singapore: in millions. Naturally. Everyone has seen the look on someone’s face when they learn that a penthouse at Le Nouvel Ardmore on Ardmore Park was sold to Alibaba co-founder for $51 million. Or that Spanish tycoon Ricardo Portabella Peralta bought two adjacent units at Seven Palms for a whopping $28.55 million. Do the math and you’ll know why houses priced at $4,131 per sq. ft. are not built for the average Joe.
4. Exclusivity and Uniqueness of Luxury Condo in Singapore
And though all luxury condos in Singapore are priced somewhere in millions, no two of them are same. After all, one doesn’t spend a fortune on buying a piece of a mass-manufactured product. When you think of a luxury condo, your imagination begins with a swimming pool, traces the outline of mahogany furniture across pastel walls that break into an indoor spa or a gym with an excellent sea-facing view. But did you know that Patterson Hills’s The Marq rewrites the condo luxury diaries with cantilevered swimming pools hanging outside its buildings? Or that a condo in Reignwood Hamilton Scotts opens a personal sky garage right into your living room?
It is not for nothing that luxury condos in Singapore command hefty prices. Each one of these condos is tailored to suit the individual buyer’s needs.
5. Architects and Designers of Luxury Condo in Singapore
Take a look at Sculptura Ardmore, an unparalleled work of real estate art at a stone’s throw from Orchard Road and you’ll know why tabloids are calling it New York based Carlos Zapata’s masterpiece. Zapata is just one of a handful of “starchitects”, a group of professionals setting standards and raising bars with uniquely styled condo towers across the city landscape. Such luxury towers designed by starchitects are luxuries built by the elite, for the elite! The best part about these starchitects is that they’ve already taken care of everything the high-end dwellers might need. While one of them might feature a double- height living room, another boast of rectilinear sky gardens and private lay pools at their balcony.
6. Conveniences of Luxury Condo in Singapore
While exclusivity is a thing with the affluent, no one would buy property in the middle of nowhere. Granted the rich need more privacy than the average man. Modern day luxury condos are smart enough to place the basics such as medical centers and schools at the top of their proximity list. But shopping, wining, and dining are equally important to them. All, of course, in a manner that suits their lifestyle. No wonder proximity to the Marina Broadwalk is one of the prime reasons for Sentosa Cove’s thriving success as a luxury home enclave. Or Admore Park for that matter, one of Singapore’s most prestigious condo enclaves, that boasts of easy access to Orchard road Shopping Belt and its Supermarkets.
Now that you’ve learned so much about the high-end real estate, let no one misguide you on what’s a luxurious condo in Singapore henceforth. These swanky brick-and-mortar constructions in beautiful hides set the benchmark for the rest of the properties in Singapore to measure their worth against. Of course, if you go by the relative definition of luxury, then it spells “the next best unreachable thing” for anyone out there. But now you know that’s not what luxury condos in Singapore are.
At Century 21, we are one of the few Singapore estate agencies offering exceptional real estate services that are personalized and customized to meet the diverse needs of international high net-worth individuals. We provide international HNWI a one-stop service for property investment and acquiring Singapore luxury real estate. Check out our Global HNWI Services now!
Author: Nic Ee
Nic is the Executive Director and Key Executive Officer (KEO) of CENTURY 21 Property Agent Singapore Pte Ltd. Nic starts his real estate career in 1995. He focuses in providing real estate services specifically to international high net-worth individuals and corporate clients. His expertise includes luxury home finding, property investment planning & acquisition, managing buy to let property, expat home finding and tenant representation for office space.