The branded residences market in Asia is soaring as buyers from across the world purchase second homes in “playground cities” or tropical resort destinations. Singapore buyers are leading regional buyers, fuelling the growth of the sector, driven by a domestic environment not conducive to investment in second or third homes given high taxation and stamp duty.In a marketplace valued at USD 26.6 billion for a supply of 68,001 units, the top regional branded residences destination is Thailand, which commands 23.3% market share, according to the recently released C9 Hotelworks’ Asia Branded Residences Market Update, and where Phuket has the highest number of units at 4,771 across 26 developments.Following Thailand is the Philippines with 17.3% share and South Korea with 11.6%. Singapore has a branded residences market value of USD 2.78 billion, but has the third highest per square metre value of USD 23,026 psm, behind Niseko and Seoul.“The value of the Singapore branded residence market is significant,” said Bill Barnett, Managing Director of C9 Hotelworks. “But the headline here is the strong appetite of Singaporean buyers to buy in the region, buoyed by the confidence and service benefits international luxury brands bring to the table, and Thailand is the leading beneficiary.”Read More
Singapore Sling: Branded Residences Growth In Asia Surges As Second-home Buyers Flee Domestic Market
