Singapore's luxury market witnesses maximum price growth

Singapore witnessed resurgent price growth in the premium market segment due to rising foreign demand and high land bids by developers and leads the global house price rankings (+11.5%) followed by Tokyo at 9.4 percent. As per the Prime International Residential Index (PIRI) that analyses the top 20 top luxury residential markets across the world,  the average prime prices across cities rose by 6 percent in the year to December 2017; by June 2018 this figure had dipped to 4.2 percent. The wealth report also predicts the rise of e-commerce and shifting trade dynamics in South-East Asia. This will drive an increase in the value of logistics assets in the region. According to Knight Frank’s half-year Wealth Report, logistics has become one of the most coveted real estate asset classes, attracting $126 billion of investment globally in 2017. The growth of the sector has been driven by the rise of ecommerce, with increased demand for logistics space from retailers driving rental and capital value growth.