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Singapore homes are 13th most expensive globally
Aug 15, 2012
PropertyGuru.com.sg : By Romesh Navaratnarajah: The latest Wealth Report 2012 jointly released by Knight Frank and Citibank has listed Singapore as the 13th most expensive real estate market in the world. This despite a decline in private home prices in 2011 by 4.7 percent to US$25,600 (S$32,000) psm. Monaco remains the most expensive real estate market at US$58,300 (S$72,800) psm. However, prices there and in the French Riviera also fell last year. "It is no coincidence that the only two European cities in our PIRI that recorded price increases last year were London and Zurich – both outside the Eurozone," noted the report. Apart from Monaco, the top 10 list also includes Cap Ferrat, London, Hong Kong, Courchevel 1850, St Moritz, Gstaad, St Tropez and Geneva. Singapore is just below Paris and Cannes, which were ranked 11th and 12th.