Luxury homes prices lagged in city-fringe and suburban counterparts
Prices for luxury non-landed homes are at $5.50 psf pm.
Private residential prices grew but luxury home costs slow down, with prices for luxury non-landed homes are at $5.50 psf pm in the fourth quarter of 2022.
“The price gap between luxury vis-a-vis city-fringe and suburban homes have tightened below their 10-year averages,” Cushman & Wakefield also said.
With islandwide home prices at historical highs and still expected to trend higher in 2023, luxury home prices particularly could surprise the upside.
Vacancy for this segment is at 7.9% in the final quarter of 2022.