Singapore’s luxury property market is showing signs of recovery following the sluggish period caused by the COVID-19 pandemic.
According to Knight Frank’s Wealth Report, the country ranked among the top markets for ultra-prime residential property transactions in 2022, alongside global giants like London and New York. Despite the slowing of prime home transaction volumes, Singapore came in sixth on the high-end activity index, with 18 ultra-prime property sales and 121 super-prime property sales.
Nicholas Keong who is Senior Director & Head, Residential and Private Office at Knight Frank Singapore, believes that the city-state remains a safe haven for high net worth individuals due to the government’s ability to keep the economy and public health stable during uncertain times. The growing number of wealthy individuals is also driving a predicted 4% increase in prime prices this year.
Furthermore, Singapore’s prime office rents performed well in Knight Frank’s Asia-Pacific Prime Office Rental Index, with a quarterly increase of 1.7% and a YoY increase of 5.5% in Q4 2022. With a projected 12-month rental outlook, Knight Frank predicts that rental prices will continue to rise as vacancy rates decline.
Here, we showcase six prime residential and office properties that the Asia Property Awards (Singapore) judging panel deemed worthy of recognition at the 2022 ceremony.
1. Park Nova by Shun Tak Holdings
Park Nova, developed by Shun Tak Holdings, comprises 54 exclusive residences designed to bring residents closer to nature. The biophilic architecture of the building features a lush vertical garden, expansive outdoor spaces, natural lighting, verdant communal planters and upscale facilities that promote residents’ health and wellness.
The development has been honoured with several prestigious awards, including the Best Ultra Luxury Condo Development award, Best Ultra Luxury Condo Architectural Design award, and Best Ultra Luxury Condo Landscape Architectural Design award at the APA(S) 2022. Judges praised Park Nova as a “sleek and exclusive oasis that celebrates both serenity and the cityscape”.
Moreover, this freehold residence is conveniently located a mere three-minute walk from the Orchard Boulevard MRT station and is close to several top lifestyle attractions, including luxury retail shops, fine dining restaurants, deluxe hotels, and urban landmarks along Orchard Road.
Browse all Park Nova units for sale on PropertyGuru.
2. Perfect Ten by Property Enterprises Development (Singapore) Pte Ltd
Perfect Ten is a 230-unit freehold residential property situated along Bukit Timah Road in District 10, offering stunning city views. Designed by world-renowned firm DP Architects, the 24-storey residence boasts a 50-metre infinity pool, a private all-glass “crystal sky” elevator for select units, and a lush roof garden.
With the Pan Island Expressway and the Central Expressway nearby, and several bus and MRT stations within walking distance, accessibility is a major plus. The property is also located near renowned amenities such as Raffles Town Club, The American Club, Tanglin Club, and the Orchard Road Shopping Belt.
The project was awarded Best Luxury Condo Development and Best Luxury Condo Interior Design at APA(S) 2022, with the judges noting that the developer “leans into sophisticated, upscale living, with shimmering reflective glass facades, rich interiors and a 50-metre infinity pool”.
Browse all Perfect Ten units for sale on PropertyGuru.
3. The Hyde by Aurum Land (Private) Limited
The Hyde, an Aurum Land development, is a luxurious collection of 117 freehold homes located on Balmoral Road in Goodwood Hill. Surrounded by lush foliage, the development features a distinctive sculptural profile, providing a peaceful atmosphere.
Lower-floor units offer greenery views, while high-floor units boast views of Orchard Road and the city skyline. The condo boasts various facilities, including swimming pools, a sun deck, a gym, a clubhouse, and landscaped gardens.
At the 2022 APA(S) awards ceremony, The Hyde won Best Lifestyle Development, with the judging panel noting its “abundantly lush setting” inspired by London’s Hyde Park Serpentine Pavilions. Aurum Land also won Best Boutique Developer.
Browse all The Hyde units for sale on PropertyGuru.
4. Meyer Mansion by GuocoLand
Meyer Mansion is one of the island’s most anticipated residential developments in recent years, demonstrated by its success at last year’s APA(S). Bagging the coveted Best Condo Development (Singapore), as well as Best Luxury Condo Architectural Design and Best Luxury Waterfront Condo Development, the 200-unit seafront development is strategically located in a laidback neighbourhood along the East Coast Park, allowing easy access to major expressways.
It is located in a prime area surrounded by numerous amenities such as shopping malls, eateries, famous hawker fare and chic bistros. The condominium also offers a range of luxurious lifestyle and entertainment facilities such as clubhouses, a BBQ pavilion, a children’s playground, an indoor gym, a 50-metre swimming pool, and a function room.
The Awards’ judging panel noted that “the understated and refined design language at Meyer Mansion makes for a sophisticated residential statement”. Developer Guocoland also took home trophies in the Best Sustainable Developer, Best Mixed Use Developer, Best Luxury Developer, Special Recognition in Sustainable Design and Construction and Special Recognition in ESG categories.
Browse all Meyer Mansion units for sale on PropertyGuru.
5. Belgravia Ace by Fairview Developments Pte Ltd (a Unit of Tong Eng Group)
Belgravia Ace is the third and final phase of the successful strata villa house series by Fairview Developments (a unit of Tong Eng Group). The freehold development offers 107 strata landed houses, including 104 Semi-Detached Houses, two Corner Terrace Houses, and one Inter Terrace House.
Residents can enjoy communal facilities such as a 50-metre lap pool, gymnasium, clubhouse, hammock lawn, children’s playground, and various pavilions. Located in the Yio Chu Kang/Stratton Landed Enclave, the project also provides easy access to shopping, dining, and entertainment spots like Greenwich V Shopping Mall, Seletar Mall, and Jalan Kayu eateries.
Following its success at the 2021 instalment, Belgravia Ace picked up Best Housing Development (Singapore) and Best Strata Housing Development trophies at last year’s APA(S) ceremony. The judges praised its “glass-fronted design that connects with nature, loft space on the first storey, and inspiration of serenity and spaciousness”.
Browse all Belgravia Ace units for sale on PropertyGuru.
6. FRASERS TOWER by FRASERS PROPERTY SINGAPORE
One of the most highly anticipated mixed-use developments to hit the market in recent years, Frasers Tower takes advantage of its prime location on Cecil Street in the thick of Singapore’s Central Business District (CBD). Tanjong Pagar MRT station, served by the East West Line, is directly connected to the tower, while Telok Ayer MRT station on the Downtown Line is within walking distance.
The tower and adjacent three-floor retail podium offer 682,000 sq ft of Grade-A office space, lifestyle outlets, and four communal zones: The Sky, The Terrace, The Oasis, and The Park. Each of these zones has a unique purpose, including panoramic city views, breakout zones, recreational activities, and relaxation pods. Moreover, The Oasis offers a roof garden and a range of food and beverage options, while The Park links directly to Telok Ayer Park, providing a relaxing environment.
In 2022, Frasers Tower won Best Office Development at the APA(S) awards. The judges commended the development for creating a connected office community with green chill-out space and an integrated podium with F&B options.
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