Already balking at the price of some million-dollar HDB resale flats? Well, wait till you check out these super luxurious properties in Singapore you’d need to fork out at least $50 million for! To put things in perspective, even a Sentosa Cove house “only” costs $16 to $25 million.
Luxury penthouse at Wallich Residences ($108 million)
Wallich Residences is actually part of a development called the Tanjong Pagar Centre, which includes Guoco Tower, CBD offices, shops and a 5-star hotel. Standing at 290m, it’s the tallest building in Singapore. This makes the penthouses in Wallich Residences the highest luxury condominiums in Singapore, heck, the highest place to live in in Singapore.
Of course, you can expect that a penthouse at the very top of Singapore within the CBD will cost you big bucks. But that’s the price for counting James Dyson as your neighbour.
The 21,108 square foot super penthouse, despite being only 99-year leasehold as of February 2011, came with a hefty price tag of $108 million in 2017, which works out to $5,117 psf. James Dyson bagged himself a unit for $73.8 million earlier this year… What gives?
The three storey penthouse is located on levels 62 to 64 and has its own private pool, cabana, jacuzzi and private lift. When you’ve got all that, who needs Marina Bay Sands (which, by the way, you’ll be able to see from your private pool)?!
Located in the heart of Tanjong Pagar right beside Tanjong Pagar MRT, it is in a choice location for those cutting deals in boardrooms or simply partying in the city core.
Penthouse at Boulevard Vue ($61 million)
This 4-bedroom penthouse at a freehold luxury condo at Cuscaden Walk is located in the heart of Orchard Road, just 6 minutes’ walk from Orchard MRT.
Located on the 32nd floor, the penthouse measures 11,098 square feet and is priced at $61,038,000 or about $5,500 psf. The penthouse is of course served by private lifts.
Boulevard Vue also has an infinity lap pool, jacuzzi, steam room, gym, fine dining restaurant and bar, when you’re not busy enjoying your private terrace.
Resort-like bungalow at Ewart Park ($59 million)
Who needs to go to Bali on vacation when your very own house looks like a luxury resort on steroids?
This 7-bedroom, 38,100 square foot good class bungalow at Ewart Park off Holland Road costs a whopping $59 million, which works out to $1,549 psf. It’s freehold, which means you can pass it down to your children who will no doubt be eager to inherit your legacy. Located in the Holland expat enclave, the house is a 6 minute drive from Holland Village.
It’s got its own 38 metre lap pool, jacuzzi, gym, steam room, entertainment lounge, wine chiller room, koi pond and, get this, an aviary enclosure where you can house your exotic birds.
It’s also got a private car garage that fits up to 15 cars, so don’t worry about not having enough space for your supercar collection.
Triplex super penthouse at Orchard Road ($52 million)
This triple storey penthouse at Skyline @ Orchard Boulevard, located at Anguilla Park four minutes’ walk from Orchard MRT, offers 360 degree views of Singapore’s shopping district. Whether you spend your days shopping at luxury boutiques on Orchard Road or want to be located a stone’s throw from just about anywhere else in the city core, you can’t find a more central location.
The lucky buyer gets to completely customise 9,494 square feet of space, which is enough for 6 bedrooms and 5 bathrooms. You’ll have to fork out $52 million for the privilege, or $5,477 psf. It’s also freehold, so it could potentially remain with your family forever.
The penthouse is equipped with private lifts and a private pool on the roof terrace, and it’s just so darn big you’ll also have room for a lounge, entertainment room and more.
Townhouse at Balmoral Park ($50 million)
This 3.5 storey, 4-bedroom townhouse on the Orchard end of the Bukit Timah belt costs a cool $50 million or $4,545 psf. It’s got its very own swimming pool as well as a sheltered car park.
It is currently open to development, so if you’ve always wanted to build your own house, now’s your chance to take control over 11,000 square feet of space. If you prefer, you can also develop the land into a small apartment project that your clan can occupy, or sell in order to become even richer.
It’s also located 6 minutes’ walk from Stevens MRT, so your kids can easily take the MRT whenever your chauffeur is on leave.
Are luxury houses investments?
The luxury property market in Singapore is a different beast from the regular residential property market.
The residential market might be in the doldrums right now, but Singapore’s luxury property market is still considered one of the world’s hottest.
That being said, it is important to note that the luxury property market is also prone to downturns and has actually been on the decline since 2013, thanks to the Additional Buyers’ Stamp Duty, which makes acquiring property more expensive for investors and foreign purchasers.
Renting out and selling luxury property can also be a problem, due to the decline of generous expat packages and rising interest rates.
It is also important to know that rental yields tend to be more attractive for 99-year leasehold properties of smaller sizes vis-a-vis the purchase price, with condos typically outperforming landed property.
All that considered, the strong fundamentals of the property market mean that you can still make money off well-chosen luxury property in a prime location. Take care not to make the mistake that Sentosa Cove buyers did by assuming that a new development will add value to a poorly-chosen location.