Luxury brands to account for 75% of Singapore’s branded residences pipeline

Globally recognised names including St. Regis, Ritz-Carlton, W and Aman continue to reinforce Singapore’s position as an ultra-prime branded residential market.

Otto Twist, Southeast Asia director of international residential sales at Savills Singapore, said Singapore’s scarcity and concentration of luxury brands had reinforced its position at the ultra-prime end of the market.

“Singapore may be a relatively small branded residences market, but its scarcity, concentration of globally recognised luxury brands and limited supply of high-quality branded schemes have reinforced its position at the ultra-prime end of the market,” Twist said.

Twist added the growth story across the rest of Southeast Asia was quite different, with markets such as Vietnam and Thailand seeing a broader expansion of branded residences, particularly in resort destinations.

Across Asia Pacific, the report found pricing power strengthening despite diversification. The average brand premium rose from 23% to 29% over the past year, compared with a global average of 33%.

Vietnam is the region’s fastest-growing branded residential market, with the number of projects forecast to increase by 152% by 2032, whilst resort developments are expected to account for 65% of the Asia Pacific pipeline, up from 50% of completed schemes.