Dear home builders: Buyers look for units worth $1M to $1.15M
1 in 2 plans to purchase a private home in Singapore.
A joint survey by Knight Frank and The Edge Property found that 217 of the 500 respondents were on the look out to buy a private home in Singapore. Of these respondents planning to purchase, 42% were looking to buy a unit worth $1million to $1.5 million.
Surprisingly, even respondents with a high gross household income of over $16,000 a month prefer to buy units within this price range.
The second most sought-after properties are those priced between $500,000 and 1million. 28% of the respondents had said so.