Luxury Penthouse Market Is Booming
Despite global uncertainty, Singapore’s real estate market is booming. Atop that boom is a slate of luxury penthouses, each equipped with great views, situated in wonderful neighbourhoods, largely insulated from inflation. That’s why real estate in Singapore has long been considered one of the best hedges against inflation for ultra-high net worth individuals (HNW), whether they be Singaporean or foreign investors.
Though the Singapore government has imposed property curbs, the demand for luxury non-landed homes remained steady in H2 2022 at 158 properties compared with 138 in H1, directly related to available inventory in the market.
The luxury end of Singapore’s real estate market is a lucrative attraction for HNW foreign buyers. Many foreign investors look to Singapore for economic stability, and with good reason. The price of luxury residential properties rose 6-8% year-on-year increase to approximately S$3,000 per square foot (psf) at the end of H2 2022. Notably, the Les Maison Nassim penthouse off Singapore’s illustrious Orchard Road broke a new record, transacting for S$68 million, and makes it the most expensive of its kind in Singapore. But it’s unlikely to hold that title for long.
Buoyed by the government’s latest visa policies, coupled with the luxury homes market slowdown in a traditionally unwaning Hong Kong, demands increase from mainland China, U.S. Indonesian and Malaysian nationals. This deluge of wealthy buyers eye Singapore’s luxurious penthouses given the favourable view as a safe haven amid geopolitical tensions and sharply rising interest rates that would typically affect investor sentiment negatively.
Singapore’s property market is not uniform. It’s important to be aware of the different districts and the trends across the island. Condominiums in District 9 often fetch a higher average price psf at S$3500 psf, whereas properties in nearby District 10 have experienced a higher appreciation at 20-30% in the last decade.
Today, we’re focusing on some of the most luxurious penthouses available in Singapore’s prime residential market, with a prevailing psf upturn. These Inspiring Properties — situated in some of the most sought-after neighbourhoods, super-exclusive spacious penthouses that boast ample, well-designed living spaces — are perfected for sophisticated foreign or domestic investors to covet.
Featured Properties: Singapore Luxury Penthouses for Sale
Wing On Life
Wing On Life is a beautiful property, well situated in Bukit Timah. Its penthouses bask in natural sunlight with its high windows and spacious living quarters. From those same windows, you can enjoy the sunset from your dining table, or from either of the balconies on either side of this gorgeous penthouse.
Its kitchen has been newly outfitted with the latest Miele appliances, and Liebherr refrigerators, one regular and one for your best wines. Its first floor alone is 7,050 square feet, with each of the five bedrooms getting that same beautiful natural light. Upstairs, there’s a splendid expansive space with newly laid-in American Oak flooring, perfect to become your new gym, home office, or library. The terrace outside has also been recently renovated, with its own turf, tiles and deck perfect for your family’s next barbeque.
On its top floor, is the luxurious master bedroom that spreads across the entire floor with a walk-in wardrobe and beautiful bathroom with a Hans Grohe rain shower and its own jacuzzi.
This opulent penthouse is perfect for investors or families. It is within walking distance of excellent schools and public transportation, making it a prime investment for anyone looking to get into Singaporean real estate.
Klimt Cairnhill is an upcoming, brand-new freehold condominium located in the heart of Orchard Road’s premier District 9. Its sleek exterior makes it a shining beacon in Singapore’s shopping district, but its precise location exudes an exclusive tranquillity offering you a refuge within the city. The sprawling penthouse grants picturesque vantages overlooking the city, with multiple balconies and terraces across the exceptional property.
The penthouses are outfitted with high ceilings and a polished finish, giving your home a sense of lustre. Its elevated pool lets you do laps above the city, while enjoying the view from its deck. And below, you can find the clubhouse, a grand conserved bungalow memorial, a tribute to Cairnhill’s heritage as a neighbourhood of the wealthy elite. Its prime location makes it hard to beat as Singapore’s growth promises an influx of investors, eager to live in one of the city’s most prestigious neighbourhoods.
The Ritz-Carlton Residences
The Ritz-Carlton has expanded its prestige brand of 6-Star hotel hospitality to residences across the globe, including Singapore. The Ritz-Carlton Residences penthouse is designed for investors with its legendary service and style, providing unparalleled living with an impeccable Ritz-Carlton concierge service and amenities from the ground floor up: three beautiful sky terraces include a resort-style main pool, a lap pool, tennis courts, a fitness centre, a manicured maze garden, barbecue areas, a library, a morning coffee bar, an open gourmet kitchen and an entertainment area.
The penthouse itself is elegant, with a 3.1 metre high ceiling, intricately designed walls and floors, and five bedrooms perfect for your whole family. Only one of two penthouses, this luxurious 6,501 square feet of resort-style living makes it a prime investment.
Marina One Residences
Marina One Residences is situated just off of Singapore’s thriving Central Business District. It’s perfect for a short commute to work for high-flying professionals, or to Gardens by the Bay for a relaxing morning or evening walk. Every residence in this luxurious compound is built around a 37,000 square metre, landscaped ‘Green Heart’ with a state-of-the-art cascading water feature, integrated with nature and sublime design.
The penthouse’s open-air roof terraces are perfect for basking in Singapore’s glow in the morning and evenings, in your own high-rise jacuzzi or wading pool.
Its immense 7,244 square foot area is split in half, with its left wing designed for hosting your guests for dinner parties, barbeques, or other social events, and its right wing outfitted as an intimate living area for the family and an expansive master bedroom with a 3.4 metre high ceiling. Both sides have their own entertainment areas and bathrooms, and are lined with a beautiful dark wood panelling, giving the space an elegant and sleek feel.
Its prime location, right beside the Central Business District, ties it to Singapore’s continuous and stable economic growth. This property is sure to appreciate in value as Singapore continues rising, making it a wise and safe investment.
Connect with our Leading Luxury Property Agents
If you’re looking for that ‘je ne sais quo’ when it comes to luxurious properties, then you need to consider one of the many Singapore luxury penthouses for sale. These beautiful residences offer an unparalleled level of living, allowing owners to enjoy the best of both worlds: modern amenities indoors and breathtaking views of the city. From contemporary designs to expansive modernity, there is a perfect penthouse for the most discerning in taste and style.
These penthouses offer exceptional features, such as spacious living spaces, high ceilings, and private terraces. Each residence is crafted with the finest materials and features modern amenities, including high-end appliances, premium fixtures, and custom cabinetry. Residents can also enjoy access to exclusive amenities and services, such as concierge services, swimming pools, and fitness centers.
These luxury penthouse properties provide a prime investment opportunity, as they are located in some of the most sought-after locations in Singapore. With beautiful views of the skyline, easy access with close proximity to shopping, dining, and entertainment, these penthouses rise above the city and are available only for a few.
Whether you’re looking for a primary residence or an investment property, contact Singapore Luxury Homes – renowned as the top 1% luxury real estate team and acclaimed for a landmark property transaction of more than $45 million for an Astrid Hill Good Class Bungalow. When you work with us, you working one of Singapore’s most successful, creative and sought-after luxury real estate agencies.
Article by: Sunita Gill, COO & Co-Founder at Singapore Luxury Homes and Group Director at PropNex Realty