Singapore has been ranked the most expensive city in the world for foreign buyers of prime residential property, according to Savills’ latest World Cities Prime Residential Index.
For an international buyer purchasing, owning, and selling a US$2 million (S$2.57 million) home, Singapore stands out as the costliest among 30 global cities, driven primarily by the 60% Additional Buyer’s Stamp Duty (ABSD) imposed on foreigners. This rate pushes transaction costs to three times higher than Barcelona, the second costliest city, and far above the global average of 15%.
Why does this matter?
This reinforces Singapore’s reputation as a highly regulated yet resilient property market, balancing demand, affordability, and local housing priorities. Despite the hefty entry costs for foreigners, local demand—fuelled by baby boomers’ wealth and higher HDB resale prices—continues to anchor the market.
While foreign investors face significant barriers, locals and PRs remain the key drivers, and Singapore’s market has still shown stability, outperforming hubs like London, Hong Kong, and Paris in capital values.
📊 Infographic Snapshot: Singapore & Global Prime Residential Trends
- 🇸🇬 Singapore
- Ranked #1 costliest city for foreign buyers
- 60% ABSD rate = 3x higher than Barcelona
- Prime capital value growth: +0.2% (1H2025)
- 🌍 Global Overview (30 cities)
- Average prime capital value growth: +0.7% (slower than +2.2% in 2024)
- 60% of cities posted growth in 1H2025
- 📈 Top Growth Cities (1H2025)
- Tokyo: +8.8% (chronic shortage of stock)
- Berlin: +7.2%
- Dubai: +5.7%
- Seoul: +5.1%
- 📉 Weaker Performers
- London, Hong Kong, Paris: declines in prime capital values
- 🔮 Forecast
- Singapore prime prices projected to rise up to 1.9% in 2025
- Growth expected in Tokyo, Seoul, Dubai (6–7.9%)
✅ Summary Highlights
- ✅ Singapore is world’s costliest city for foreign prime property buyers
- ✅ 60% ABSD makes transactions 3x more costly than Barcelona
- ✅ Singapore capital values grew 0.2%, stronger than London, HK, Paris
- ✅ Local demand (baby boomers, HDB upgraders, PRs) drives market resilience
- ✅ Prime home prices in Singapore may rise up to 1.9% in 2025
📞 Thinking about your next move in Singapore’s property market? Whether buying, selling, or upgrading, let’s have a chat to explore the best opportunities for you.