Singapore’s solid economy, stable political climate and world-class education system coupled with developed infrastructure and medical facilities, make it one of the choice locations for potential investors, especially foreign ultra-high net worth individuals (“UHNWI”).
A report from Knight Frank revealed that 17% of the world’s 198,342 ultra-high net worth individuals — with above US$30m in net worth — voted that they are most likely to buy a new home in Singapore.
In 2019, land-scarce Singapore saw its own fair share of action in the luxury property market starting with the whopping sale of Singapore’s largest penthouse for S$73.8 million. Barely two weeks after, the buyer purchased another property worth S$41 million.
Owning a luxury property in Singapore at an alluring address such as Orchard Road is certainly a symbol of status in a city like Singapore, but is there more to it?
The Demand for Top Tier Luxury Assets in Singapore
In 2019, this city-state saw a series of prominent high net worth individuals (HNWIs) invest in Singapore’s top tier luxury property market, in a move that has helped the island’s luxury property sector weather a slowdown that has plagued the rest of the property market.
Amongst the more high profile foreign buyers who have been reported to have invested in the island’s luxury property market are Sir James Dyson and Alibaba’s Jack Ma.
However, local investors are still the main driving force despite the rising share of foreign-owned luxury homes. In 2019, only 20% of the transactions were by foreign investors.
Rising affluence amongst locals has resulted in an increase in household wealth and supported the movement up the housing ladder,” noted Sze Teck Lee, director of research at Huttons Asia. “There has been a doubling of households earning more than $20,000 per month over the past ten years,” he added.
For this class of rising wealth individuals, wealth and value preservation is more important than ever.
The Name Matters
When it comes to selecting properties for value preservation, the reputation of the developer matters.
Within Singapore, Far East Organization stands out as the largest private property developer with over 780 developments. Together with its Hong Kong-based sister company Sino Group, Far East Organization is one of Asia’s largest real estate groups that has notably shaped Singapore’s urban landscape.
To-date, Far East Organization is the only developer in the world to win eleven FIABCI World Prix D’Excellence awards, the highest honour in international real estate.
Far East Organization’s residential projects in Singapore include a wide variety of apartments, condominiums, and landed homes across the island.
One of the World’s Most Prestigious Address
Stroll down Orchard Road, and you are instantly reminded of Ginza in Tokyo or Champs Élysées in Paris with the streets lined with iconic malls and luxury flagship boutiques.
Located amidst the island’s most iconic retail destination and the finest names in luxury lies two freehold developments from Far East Organization’s Inessence brand of luxury residences.
Skyline @ Orchard Boulevard
An exclusive development designed by world-renowned architect, Fumihiko Maki, this freehold development at 23 Angullia Park in District 9 offers 33 storeys of elevated freehold living in the heart of Orchard Road.
Located near the Orchard MRT station and a mere 600 metres from the prestigious Four Seasons Hotel, every residence in this exclusive development comes with a balcony offering a breathtaking view of Orchard Road.
Seamlessly combining urban luxury, exceptional design, functional space and freedom of taste, this home is highly sought after due to its proximity to shopping malls such as ION Orchard, Wheelock Place, Wisma Atria and the Central Business District.
Each unit has been elegantly and thoughtfully designed for the discerning few. The distinctive finishing, green spaces and exclusive facilities completes this luxury space, where privacy and serenity are effortlessly attained.
Alba – Freehold Modern Luxury at Orchard Road
This freehold residential address in District 9 is one of the world’s most coveted addresses.
Designed by world-renowned US architects Arquitectonica, Alba at 8 Cairnhill Rise is a luxury development that offers its residents a distinctive experience in one of the most exclusive enclaves in Singapore.
Each residence comes with private lift access and concierge service, one of the many things that has been thoughtfully put in place for the residents of Alba.
This prestigious 50-unit freehold property with its distinctive 3-units per floor Y-shaped layout plan has been designed to offer greater living space.
Take a 10-minute stroll, and you will find yourself at Singapore’s premium malls such as Paragon, ION Orchard, Takashimaya and Wisma Atria. The Mount Elizabeth Hospital and esteemed Tanglin Club are both within close proximity.
The Luxury Penthouse Collection
Expensive as they may be, this new generation of penthouses are gaining attention from HNWIs across the globe.
After all, there is only one top floor. Drawn by the sense of exclusivity and scarcity offered, these iconic penthouses offer panoramic views of Orchard Road and are often termed “bungalows in the sky”.
Built by Far East Organization, the Alba penthouse is 6,437 square feet and offers a luxurious home complete with private pool and jacuzzi, private lift and four parking lots.
In an even more impressive feat, Far East Organization brings you a 3-storey triplex penthouse at Skyline @ Orchard Boulevard, complete with three bedrooms, one guest room, two private lifts and designated four car-parking lots, all while offering panoramic views of Orchard Road that spans through to Marina Bay Sands.
Far East Organization’s Luxury Penthouse Collection is only available for private viewing.
Schedule an appointment below for a private viewing of Alba and Skyline @ Orchard Boulevard.