Sentosa Cove Bungalows
In contrast to landed properties on mainland Singapore, foreigners are allowed to buy and own landed properties – including bungalows at Sentosa Cove, although government approval is still required.
Sentosa Cove
Located in a prime residential zone on the Sentosa Island, Sentosa Cove offers a completely different feel from the residential estates in mainland Singapore. Sentosa Cove covers an area of 117 ha on the eastern side of Sentosa Island. There are also five man-made islands called Coral Island, Paradise Island, Treasure Island, Sandy Island and Pearl Island that house only Bungalows. You will find commercial developments within Sentosa Cove in One Degree 15 which is a private marina, Quayside Isle which is a retail cum F&B complex and a 320-room hotel (W Singapore Sentosa Cove).
Demand And Supply For Sentosa Cove
There are approximately 2,800 codominium units in Sentosa Cove, and about 400 bungalows. Sentosa Cove is the only place where non-Singaporeans can buy a landed home and it naturally draws interest from Ultra High Networth Individuals around the world. In 2012, a Sentosa Cove bungalow could fetch as much as $3,214 psf.
All residential homes are of 99 years leasehold tenure, there is constanly a healthy interest in Sentosa Cove bungalows because of their exclusive waterfront living, limited supply and eligibility for foreigners to own them.
how is the current market situation at sentosa cove?
Stakeholders of Sentosa Cove properties have been hoping for prices to improve, especially after the market started to slow down since 2014.
Given the current global recession due to the COVID19 pandemic and higher stamp duties (ABSD), the prospects of a strong recovery in prices are dim in the near future.
However, this also presents an entry opportunity, especially when serious sellers in the market are pricing their properties competitively. Given the uniqueness of its idyllic lifestyle, Sentosa Cove properties still present an attractive choice for buyers who intend to buyer for dwelling purpose.
what are the prices of good class bungalows
Despite the fall in prices over the years, we could potentially see some catalysts that could revive purchases at the Cove.
One could kick in when RWS's expansion plans announced earlier come into fruition.
Likewise, when Keppel Land launches its residential project on Keppel Island, this could lead to a repricing of properties on Sentosa Cove.
Another stimulus for Sentosa Cove is that it is part of the upcoming Greater Southern Waterfront or GSW (stretching across Singapore's southern coastline, from Pasir Panjang to Marina East).
Sentosa-Brani Master Plan
In addition, Sentosa Sensoryscape is expected to be completed by 2022. Sentosa Sensoryscape is the first project under the Sentosa-Brani Master Plan.
Spanning the size of 5.5 football fields, the Sentosa Sensoryscape will connect Resorts World Sentosa in the north to the Sentosa's beach in the south.
This is a two-tiered walkway which has features that will stimulate all five senses, including plants that respond to your touch, the sounds of cascading water, and plants with unique scents.
Depending on the objectives of Family Offices, while Sentosa Cove presents a unique lifestyle that is unparalled in Singapore, properties here could serve more for personal dwelling and enjoyment, than for investment returns.
We have an extensive network of property owners in Sentosa Cove and would be able to strategise your next move according to your goals and desires.
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