Big luxury condos: A rare species
Despite falling supply, prices have slipped but their market fundamentals remain sound.
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IN land-constrained Singapore, big units of over 2,000 sq ft are attractive to investors due to their scarcity. The stock for such units is limited, and new supply is expected to diminish over time. Condominium developments with apartments exceeding 2,000 sq ft are mostly located in prime districts 9, 10 and 11. Besides Ardmore Park condo that comprises more than 300 large units, most of these are found in developments with fewer than 100 units each.
Such large apartments can also be penthouses within developments with smaller units. For the suburban districts, there are only a handful of penthouse units with such expansive floor areas.
Similarly, the stock of landed properties forms less than a quarter of the total private housing stock. As at the fourth quarter of 2014, there were about 71,540 units of landed properties.
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