Singapore among top cities for ultra-prime residential sales: Knight Frank

In 2022, Singapore saw 18 private residences transacted for at least US$25 million, according to Knight Frank’s 2023 The Wealth Report

New York topped the list for super-prime sales with 244 deals, followed by Los Angeles and London . The three cities were also in the top three for ultra-prime deals, with New York and London both clocking up 43 transactions each, followed by Los Angeles with 39. Dubai topped the PIRI 100 for a second year in a row, registering a formidable price growth of 44.2% for its prime properties, followed by Aspen and Riyadh . Tokyo, in the fourth position, is the highest-ranking Asia Pacific city, registering 22.8% price growth.

For Apac, 45% of UHNWIs are expected to experience an increase in wealth in 2023 compared to 25% the previous year. “The optimism and confidence are driven by asset repricing, perceived value opportunities and an expected economic rebound in the Apac region,” observes Christine Li, head of research at Knight Frank Asia-Pacific.

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