Luxury sales in Singapore: records and transactions
Good Class Bungalows on Nassim Road, large apartments around Orchard Road, residences in Ardmore Park and waterfront on Sentosa Cove: Singapore has a prestigious real estate market whose scarcity is based as much on land as on a particularly strict regulatory framework.
In Singapore, regulations themselves contribute to scarcity
The pinnacle of the Singaporean market is not simply a succession of spectacular penthouses. The most sought-after properties belong to several very different worlds: Good Class Bungalows, large freehold apartments, ultra-prime residences, and waterfront properties in Sentosa Cove.
The scarcity is particularly acute for Good Class Bungalows. The Urban Redevelopment Authority recognizes only 39 Good Class Bungalow Areas in the entire city-state.
In these sectors, the usual minimum area of a plot is 1,400 m², with specific requirements relating in particular to width, depth, location and building footprint.
The result is a market where a large villa surrounded by greenery, just minutes from the financial center, becomes a heritage asset that is almost impossible to replicate.
A moderate increase on average, much stronger on the landed
In the second quarter of 2026, the overall private housing index published by the Urban Redevelopment Authority increased by 0,5 %.
Since the beginning of the year, the cumulative increase has reached 1.4%, a rate lower than that observed during the first half of 2025.
This average, however, masks significant differences between property types. Prices for landed housing rose by 2.5% over the quarter, following a slight decrease in Q1.
Luxury is making a comeback, but without regaining its former customer profile
CBRE recorded 56 sales of luxury apartments for S$658.15 million.
The average price reached S$3,801 per square foot, 2.9% higher than during the second half of 2025.
But the profile of buyers has changed. The strengthened tax measures since 2023 have significantly reduced direct foreign presence in the residential sector.
By 2026, the top of the market is driven more by Singaporean citizens, new citizens and permanent residents with significant assets.
Nassim Road: S$230 million for a single property
One of the transactions that still defines the scale of the Singaporean market today dates back to 2019.
The Good Class Bungalow located at 33 Nassim Road was sold for 230 million Singapore dollars.
The freehold lot develops approximately 84,543 square feet, or nearly 7,850 m², for a land price of approximately S$2,721 per square foot.
The transfer of the property was recorded in July 2019. In absolute value, this operation remains the historical reference for transactions carried out in a Good Class Bungalow Area.
A record linked to an exceptional plot of land
The amount should not be interpreted as a current value of Nassim Road.
The asset combined an area of over 84,500 sq ft, a house, extensive gardens, a swimming pool, a tennis court and an address among the most prestigious in Singapore.
This is the perfect example of a trophy property whose value depends as much on the size of the plot as on its location.
Four sales that tell the story of the market in 2026
Recent transactions allow us to compare several faces of ultra-prime: an iconic GCB address, a large landed property, a very large Orchard apartment and a beachfront residence in Sentosa Cove.
A Good Class Bungalow property on Nassim Road was the subject of a transaction for S$64.9 million.
The freehold lot develops approximately 14,264 square feet, which corresponds to nearly S$4,550 per square foot of land.
The amount confirms the very special status of Nassim Road, where the extreme scarcity of supply makes it possible to maintain land values among the highest in the country.
Transaction data shows a GCB sale of approximately S$38.6 million for a parcel of nearly 15,896 square feet.
The transaction comes to around S$2,428/sq ft on the land area.
She points out that, even within the extremely exclusive club of Good Class Bungalows, micro-location and plot quality produce considerable differences.
A 6,232 square foot apartment located on the 19th floor of The Marq on Paterson Hill has changed hands for S$37 million .
The price reached S$5,937 per square foot, the highest per square foot recorded among luxury transactions in the first quarter.
The sale demonstrates that the very large freehold units near Orchard Road constitute a trophy market distinct from standard condominiums.
Two stacked apartments in the Seven Palms Sentosa Cove development were acquired together for S$23.892 million.
Their combined area reaches approximately 8,794 square feet, for a price of approximately S$2,717/sq ft.
This transaction illustrates the taste of some buyers for very large seaside residences, sometimes made up of the grouping of several units.
Five very different real estate universes
Singapore has a limited territory, but its luxury market remains extremely segmented. A few kilometers are enough to go from an enclave of green villas to residential towers overlooking the financial center.
Nassim & Cluny
The most iconic address for Good Class Bungalows. Large plots, greenery, embassies and immediate proximity to the Botanic Gardens and Orchard Road.
Ardmore & Orchard
Large freehold condominiums, apartments of several thousand square feet and prestigious residences near the main commercial corridor.
Bukit Timah
Established residential areas, numerous single-family home zones, desirable access to schools, and several GCB enclaves.
Sentosa Cove
Seafront properties, condominiums, villas with private docks and a nautical environment. A very specific market, particularly sensitive to the rules applicable to foreign buyers.
Marina Bay
Contemporary towers, skyline views, immediate proximity to the CBD and large urban apartments intended for an international clientele.
Why do GCBs constitute a separate market?
The term Good Class Bungalow does not simply refer to a large, expensive house.
It corresponds to a planning environment precisely defined by the Urban Redevelopment Authority. Singapore has 39 Good Class Bungalow Areas.
A GCB plot must normally have at least 1,400 m², a minimum width of 18.5 meters and a depth of at least 30 meters, subject to the specific provisions applicable.
In a city-state where land is structurally scarce, these constraints protect very low-density residential environments.
A real estate asset before it is simply a house
The value of a GCB does not come solely from the quality of the existing building.
It also depends on the size of the plot, its shape, its facade, its reconstruction possibilities, its orientation and its belonging to a protected enclave.
This is why the price of land expressed in dollars per square foot plays a central role in the analysis of GCB transactions.
From Good Class Bungalow to Urban Penthouse
In Singapore, the buyer's status profoundly changes the rules
The Singaporean market cannot be understood without considering the regulatory framework. The following rules are general and should always be verified in light of the buyer's individual circumstances.
A foreign person can in principle acquire a condominium unit without seeking the prior authorization required for landed properties under the Residential Property Act.
A buyer considered to be a foreigner must obtain approval from the Singapore Land Authority to acquire a landed house, including in Sentosa Cove.
The standard ABSD rate applicable since April 2023 to a foreigner purchasing residential accommodation is 60%, subject to any applicable discounts or special arrangements.
This creates a real premium for Singapore
What records should teach buyers and sellers
For the buyer
The price cannot be analyzed independently of the tenure, the land area or strata, the landed or non-landed status and the applicable restrictions.
For an international buyer, the ABSD and the Residential Property Act can radically change the cost and even the possibility of completing the transaction.
Legal, tax and asset checks must therefore precede any purely real estate comparison.
For the seller
A record sale does not automatically transform all properties in the same sector into comparable assets.
On Nassim Road, within a few hundred meters, the size of the plot or the land status can significantly alter the value.
For trophy properties, the quality of the presentation and access to a pool of qualified buyers are particularly important.
Singapore in the global geography of luxury
Propriétés De Charme already features Singapore in its comprehensive reports on international real estate markets. This page complements that content with an analysis specifically focused on transactions that have actually taken place.
Record sales in major real estate markets
Monaco, Dubai, New York, London, Geneva, Singapore, Paris and Saint-Tropez: Propriétés De Charme analyzes the transactions that shape the major ultra-prime real estate markets, their trophy properties and their actually documented sales.
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Caveats, official statistics and regulations
Sources consulted and verified on September 28, 2026.CBRE, URA statistics and individual transactions may use different scopes: they are presented separately and are not added together.
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