In the past, a luxury penthouse for sale in Singapore would be one of the hottest properties in town. Not anymore, after a condo with an asking price of almost $12 million failed to attract any bidders this week.
Raptors return on investment is the real dealMLS Cup the winning goal in record-breaking season for soccer in North AmericaNorth America’s oldest sport catches momentum in new professional localesCanadian Football League fanatics fuel financialsCanada’s Davis Cup team finding loveA person looks at buildings in Singapore, on Saturday, Feb. 17, 2024.
The five-bedroom suite at the St. Regis Residences, with a private pool and a 180-degree panoramic view, received no offers during its third auction by realtor Knight Frank on Thursday. That’s even after the price was lowered by 14% from earlier this year, to S$15.5 million . Developers including City Developments Ltd., which built the St. Regis Residences more than a decade ago, have seen their stocks pummeled as a result. Other projects are faring little better. The Cuscaden Reserve, a luxury project near the prime Orchard Road shopping district, has slashed prices by a fifth, with nearly 70% of its 192 units still unsold.
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