Singapore has emerged as the global leader in ultra-prime residential real estate, with the highest concentration of homes valued at $10 million or more, according to a recent analysis by Enness Global. The study, which examined property listings across 13 major international cities, found that 5.2% of homes in Singapore qualify as trophy properties, placing the city far ahead of other global luxury markets.
In comparison, New York recorded just 1.2%, while Dubai stood at 1.0%, highlighting Singapore’s growing dominance in the ultra-luxury property segment. Other global cities including London, Hong Kong, and Sydney trail further behind, while major European capitals such as Lisbon, Madrid, Paris, and Berlin have significantly smaller shares of homes in this elite price bracket.
The findings reinforce Singapore’s reputation as one of the most attractive destinations for high-net-worth individuals (HNWIs) seeking premium real estate investments and long-term wealth preservation.
Singapore’s Trophy Home Dominance
The Enness Global report reveals that more than one in twenty homes listed in Singapore are valued at $10 million or above, making it the most concentrated market for trophy properties worldwide.
This share is over four times higher than New York, the second-ranked city in the analysis. The city-state’s thriving luxury condominium market, waterfront residences, and branded developments have become major attractions for global investors.
Singapore’s reputation as a stable financial hub with strong governance and investor-friendly policies continues to draw wealthy buyers from across Asia, Europe, and the Middle East.
Global Luxury Housing Comparison
While Singapore leads in the share of ultra-prime homes, other global cities still maintain strong reputations in luxury real estate.
New York, particularly Manhattan, remains one of the world’s most established luxury property markets, known for its iconic high-rise towers and historic townhouses that attract international buyers.
Dubai, ranking third with 1.0% of listings priced above $10 million, has rapidly emerged as a luxury property hotspot. The city has seen significant inflows of global wealth, driven by demand for branded villas, waterfront residences, and tax-friendly investment opportunities.
London, with 0.8% of homes classified as trophy properties, continues to be a major center for global wealth. Prime neighborhoods such as Mayfair and Knightsbridge remain highly desirable among international investors.
Meanwhile, Hong Kong (0.7%) and Sydney (0.5%) highlight the growing importance of the Asia-Pacific region in the ultra-prime real estate market.
Europe’s Limited Supply of Ultra-Prime Homes
European cities show a far lower concentration of trophy properties compared to Asian and Middle Eastern markets.
According to the report:
Lisbon ranks seventh globally with 0.4% of listings above $10 million
Madrid follows with 0.3%
Paris, Berlin, and Rome each record just 0.1% of homes in the ultra-prime category
This limited supply reflects Europe’s stricter building regulations, historic architecture preservation policies, and lower levels of large-scale luxury development.
As a result, ultra-prime homes in European cities remain extremely exclusive and scarce.
Why Singapore Attracts Ultra-Wealthy Buyers
Several factors have contributed to Singapore’s rapid rise as the world’s leading market for trophy homes.
Global Connectivity
Singapore’s strategic location and world-class infrastructure, including Changi Airport, make it one of the most connected cities globally.
Stable Regulatory Environment
Strong governance, transparent regulations, and political stability make Singapore a trusted destination for international investors seeking safe-haven assets.
Premium Lifestyle and Infrastructure
The city offers luxury retail districts, high-end dining, top-tier healthcare, and internationally recognized education institutions, creating an appealing environment for affluent residents.
Growing Demand from Global Wealth
An increasing number of family offices and high-net-worth individuals are choosing Singapore as a base for wealth management, driving demand for ultra-luxury residential properties.
The Future of Trophy Home Markets
Singapore’s leadership in the $10 million-plus property segment signals a shift in global real estate dynamics. As wealthy investors increasingly prioritize stability, connectivity, and lifestyle quality, cities capable of offering all three are likely to dominate the luxury housing market.
With strong economic fundamentals, investor confidence, and continued demand from global wealth, Singapore has firmly established itself as the world’s most concentrated market for trophy homes.
The trend also reflects a broader evolution in luxury real estate, where premium properties are not just homes but strategic assets within global wealth portfolios.
