SG, Dubai, and Bangkok are expected to lead H2 prime residential capital growth

The Lion City’s capital value for the first half is at 0.1% hit by construction costs.

The forecast of capital growth value for Bangkok and Singapore is a growth of between 4% and 5.9% for the second half (H2) of 2023, Savills said in its study.

Dubai is also expected to be at the top of the prime residential capital value growth, with an expected increase between 6% and 7.9% in H2 2023.

Savills said Dubai and Singapore will expect leverage from the continued relocation of Ultra-High Net Worth Individuals, whilst Bangkok is predicted to continue recovering to pre-pandemic pricing levels.

Capital values rose on average by 1.1% across the 30 cities included in the Savills World Cities Prime Residential Index in H1 2023, compared to a growth of 0.8% in H2 2022. This left year-on-year growth to June 2023 at 1.9%, the slowest annual growth since December 2020.

Dubai dominates at the list of highest levels of prime residential price growth with capital values up by 11.2% in the first half of 2023. Followed by Mumbai at 4.3% with Cape Town, Sydney, and Tokyo behind at 3.6%, 3.3%, and 3.2% respectively.