A stunning five-bedroom unit on the 55th floor of Skywaters Residences has been sold for $30.87 million, marking a significant transaction in Singapore’s luxury real estate market. This sale, recorded in a caveat lodged on June 19, represents a price of $5,841 per square foot for the expansive property, which boasts a total area of 5,285 square feet. The transaction underscores the ongoing demand for high-end residential properties in the city-state, particularly in prestigious developments like Skywaters Residences.
The buyer of this opulent unit is a Singapore Permanent Resident, who is subject to an additional buyer’s stamp duty (ABSD) of 5%. It is believed that the individual is a Chinese national, reflecting the trend of foreign investors seeking to acquire luxury properties in Singapore. This sale follows a notable previous penthouse transaction at Skywaters Residences, which set a record at $47.34 million or $6,100 per square foot in May 2024. Such transactions indicate a robust appetite for luxury accommodations among affluent buyers, despite the high costs associated with purchasing in this segment of the market.
Skywaters Residences is poised to become Singapore’s tallest tower upon its completion, offering a total of 190 residential units across its upper floors. The project has garnered significant attention from both local and international buyers, driven by its prime location and the allure of living in one of the world’s most vibrant cities. The development promises a blend of luxury living with modern amenities, appealing to individuals looking for an exclusive lifestyle experience.
The sale of the five-bedroom unit highlights the escalating property values within the luxury segment of Singapore’s real estate market. As urbanization continues and demand for high-end residences grows, prices are expected to remain strong. This particular unit’s price per square foot, while slightly lower than the previous penthouse record, still reflects the value that buyers are willing to invest in premium properties with breathtaking views and state-of-the-art facilities.
The transaction also serves as an indicator of broader market trends, as investors continue to look for opportunities in high-value real estate despite the additional taxes that may apply to foreign purchasers. The presence of permanent residents in the market further enhances the competitiveness, as they often seek to establish roots in Singapore, contributing to the demand for luxury housing options.
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