Asia’s ultra-rich rank Singapore as region’s top choice for luxury homes

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Demand for private homes in Singapore is expected to recover in 2021, according to a Knight Frank Wealth Report.

Asia's ultra-rich rank Singapore as region's top choice for luxury homes

Grace LeongSenior Business Correspondent

SINGAPORE – Singapore has become one of the world’s most sought-after locations for buying investment homes as its safe-haven reputation has been further strengthened by successfully managing the coronavirus pandemic and supporting businesses.

According to Knight Frank’s Wealth Report, while private home prices in Singapore’s prime districts dipped 0.2 per cent in 2020 as travel restrictions kept foreign buyers away, demand is expected to recover this year as such properties remain relatively affordable, and as the vaccine roll-out continues and borders reopen.

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