Prime residential prices decline 2.6% QoQ in 3Q23

Knight Frank attributed the price declines to stamp duties on foreign buyers.

Prime residential prices in Singapore continued to decline in 3Q23, further falling by 2.6% QoQ.

Year-on-year, prices have declined by 0.8%.

In its Prime Global Cities Index, Knight Frank attributed the decline in prime residential prices to the impact of higher stamp duties on foreign buyers.

Globally, Singapore ranked 33rd in the list of cities with the highest annual price growth for prime residential properties.

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