_UHNWIs list Singapore Among Top 4 Prime Home Choices

“Despite having gone through a difficult year, the luxury residential market in Singapore continues to be popular among Asians looking for a home in Asia.” -Leonard Tay, Head, Research, Knight Frank Singapore.

One in five UHNWIs in Asia-Pacific is planning to buy a new home in 2021. The most influential factor was cited as the upgrading of the main residence, followed by a holiday home domestically, or in the US, UK and Australia.

The Wealth Report Attitudes Survey by Knight Frank collected responses from over 600 private bankers, wealth advisors, intermediaries and family offices who manage over US$3.3trillion of wealth of UHNWI, including Bank of Singapore, HSBC Singapore and UOB Private Bank. The Attitudes Survey identifies some of the biggest concerns among clients, as well as their perceptions of wealth opportunities in 2021.

When choosing a new home, Asian buyers who prefer urban areas prefer a home with offices within or close by, as well as access to transport links.

One prime residential hotspot in Singapore is District 21, where new non-landed homes of between 100 and 150 sq m are priced from approximately US$1.3 million to US$2.3million.

Enhancements to the transport network and green spaces are underway to prime the area for growth. Developers of D21 - the Upper Bukit Timah area, will be able to offer homebuyers the experiential shopping of a retail facility with exclusive residences.

“Singapore continues to be an oasis for investments due to the stable political environment as well as the extensive measures implemented to mitigate any recurrences of infections. The demand for luxury homes in the city-state is projected to grow in 2021 as investible properties remain at comparatively affordable price points, and this is expected to strengthen foreign buyers’ confidence in the market.”

The Wealth Report features prime residential hotspots that UHNWI are eyeing in 2021.

About the Wealth Report by Knight Frank

The Wealth Report 2021 is backed by 125 years of real estate experience. We explore where the wealthy live, invest and spend time, as well as forecast the future residential hotspots around the world. Our global data and research experts deliver innovative advice that creates tangible value for our clients, enhancing lives and environments.

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