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Singapore's Luxury Sales Set to Soar 7% in 2024

7/18/2025

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Summary

Story summary

Singapore's luxury sales are expected to increase by 7% to S$13.9 billion ($10.9 billion) in 2024.
This growth positions Singapore ahead of most Asian markets, trailing only Japan.
The city aims to achieve pre-Covid luxury sales of S$14.7 billion ($11.4 billion) next year.
The luxury market expansion coincides with a thriving commercial real estate sector, ranking third in Asia-Pacific for luxury store openings.

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Story summary

Singapore's luxury sales are expected to increase by 7% to S$13.9 billion ($10.9 billion) in 2024.
This growth positions Singapore ahead of most Asian markets, trailing only Japan.
The city aims to achieve pre-Covid luxury sales of S$14.7 billion ($11.4 billion) next year.
The luxury market expansion coincides with a thriving commercial real estate sector, ranking third in Asia-Pacific for luxury store openings.