When thinking about Singapore, we do not actually believe that homes are really expensive in the country. The truth is always quite surprising. In the event that anyone decides to make the purchase, the home that is located at 33 Nassim Road may end up being the most expensive ever in Singapore.
We are talking about prime property that is located right next to the main shopping hub in Singapore, Orchard Road. The property is owned by Cheng Wai Keung and the asking price is $242 million.
The most expensive home for sale in Singapore covers 85,000 square feet. This includes a 2 story home, a tennis court and a lovely swimming pool. Property value is largely associated with the prime location of the house. It is close to that district we mentioned but it is also quite close to the Japan and Russian embassies, the British high commission and the Botanic Gardens. The blog is simply huge and can easily accommodate 5 homes if it were to be remodeled.
The problem is that we are faced with a really high price tag even for those that have a very high net worth. It is expected that the buyer is going to be a Russian or an Indian tycoon. As a simple comparison, the most expensive home that is currently available in the US can be found in Dallas and is listed for $135 million.
What many do not know is that the Singapore real estate market is the second most expensive in the world, being second only to Hong Kong. The current demand for luxury real estate is on the rise. It is expected to go even higher because of the fact that there are so many millionaires that are moving to the country.
While it is quite difficult to believe that the property is going to be sold given the really high price tag, we may never really know what eccentric millionaire will want it. Also, there are some investment groups that may want to buy it in order to build up to 5 properties, as we mentioned above.