Demand for luxury penthouses holds steady despite pandemic

So far this year, there are 9 transactions - 7 in the CCR, 2 in the RCR; demand may gather pace in the near-term

Nisha Ramchandani

Published Mon, May 24, 2021 · 05:50 AM

Singapore property

Singapore

DESPITE the pandemic and ongoing border closures, demand for penthouses has proven firm, with nine transactions so far this year.

While the recent surge in the number of community cases is a temporary setback, demand for luxury homes could gather pace again in the near future, especially as travel restrictions are eased, consultants said, pointing to interest from ultra-high-net-worth individuals (UHNWI) and foreign investors.

According to data from List Sotheby's International Realty (List SIR), seven penthouses were sold in the Core Central Region (CCR) thi…