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Thread: Sentosa Cove a coveted address

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    Default Sentosa Cove a coveted address

    Published September 26, 2008


    Sentosa Cove a coveted address

    CHIA SIEW CHUIN and AUDREY TAN look at the projects that make up Singapore's exclusive marina residential community

    FANCY revelling in a resort home that's just under 15 minutes from the central business district and shopping malls? Where can you enjoy a round of golf at an international golf course situated right at your doorstep? And if travel is on the cards, the airport is just a 30-minute ride away. If that sounds appealing to you and you have anywhere from $2 million to $20 million to spare, a resort home in Sentosa Cove could be the answer.

    Sentosa Cove is to Singapore what Sanctuary Cove is to Australia and the French Riviera is to France. Set on the eastern shore of Sentosa island (just south of the main Singapore island), Sentosa Cove, which spans 117 hectares of mostly reclaimed land, is undergoing a transformation that will see it become Singapore's first and only integrated oceanfront gated marina residential community.

    When completed in 2010, Sentosa Cove will be a luxurious estate comprising some 2,500 99-year leasehold homes in the form of oceanfront villas, waterway bungalows, hillside mansions and upscale condominiums. These will be complemented by an intimate marina village offering supporting amenities such as the 240-berth One Degree 15 Marina, the 320-room W Hotel being developed jointly by City Developments and Starwood, and a three-storey retail and commercial complex with a wide array of shops, upmarket F&B outlets, spa and fitness centre and small-office-home-office (SoHo) units.

    To top it all, the development of Resorts World at Sentosa, Singapore's second integrated resort with a casino, will undeniably attract high-rollers who covet luxury homes to invest in Sentosa Cove, making it the Monte Carlo of Asia.

    There are no restrictions on foreigners purchasing condominium units in this enclave. However, foreigners looking to purchase a landed home here will need to submit an abridged application form to the Land Dealings (Approval) Unit of the Singapore Land Authority for approval to purchase what is classified as restricted property in Singapore.

    This abridged application, only available for landed homes in Sentosa Cove, will enable a foreigner to receive fast-track approval in 48 hours on the back of simplified purchasing criteria and approval procedure. The catch is that foreigners who have been granted the abridged approval will be required to occupy the landed homes themselves and must not own more than one restricted property in Singapore.

    Furthermore, as one of the options under the Global Investor Programme, an applicant can apply for Singapore permanent residency by utilising his property investment in Singapore to form up to half the minimum $2 million required to be invested in approved businesses or investments in Singapore.

    With these attractions, it is no wonder that high net worth individuals from all over the world have been making a beeline for a slice of this luxurious resort home market. Foreigners are believed to have accounted for 50 per cent of the property sales in Sentosa Cove. By 2010, 60 per cent of the 10,000 Sentosa Cove residents will likely be foreigners, thus setting the stage for a truly international community.

    Since 2004, at least 12 projects comprising six condominium and six landed housing developments have been launched for sale. These projects have enjoyed brisk sales, save for those launched after the onset of the US sub-prime mortgage crisis in 3Q 2007.

    Here is a a snapshot of some of the projects in Sentosa Cove.


    The Berth by the Cove: This was the first condominium development to be launched and completed in Sentosa Cove. The development consists of 15 six-storey blocks and provides an array of facilities including 25 berths for private yachts. All the apartments have views of the ocean, with the master bedroom and living rooms facing the sea.

    There are 200 units in the development comprising 188 two- to four-bedrooms apartments and penthouses, ranging from 1,015 sq ft to 3,100 sq ft; and two duplex sky villas of 6,028 sq ft, each with a balcony lap pool.

    The Oceanfront @ Sentosa Cove: This seafront condominium comprising three 15-storey and two 13-storey blocks is by far the largest and tallest residence in Sentosa Cove. Designed by world-renowned architects Wimberly Allison Tong and Goo Inc and Antonio Citterio, it features a host of luxurious facilities including a fully equipped gym and an infinity lap pool stretching into the horizon.

    There are 264 units in the development, comprising 239 two- to four-bedrooms apartments ranging from 1,216 sq ft to 4,282 sq ft, seven sky suites of 3,326 sq ft to 5,038 sq ft, two villas measuring 4,585 sq ft to 4,704 sq ft and 16 sky villas of 2,745 to 8,095 sq ft.

    Turquoise: One of the most recently launched developments in Sentosa Cove, Turquoise comprises two six-storey blocks with attics fronted by a waterway near the fairways for views of the golf courses. It boasts full condominium facilities as well as 21 private berths within the development.

    Turquoise will have a total of 91 residential units, with 78 three- to four-bedrooms ranging from 2,088 sq ft to 3,035 sq ft, 10 duplex penthouses of 3,111 sq ft to 3,746 sq ft with private spa pools and terraces and three sky villas ranging from 6,900 sq ft to 7,987 sq ft with private sky gyms, infinity lap pools and terraces. Units are still available for sale by the developer.

    Marina Collection: Marina Collection is the latest condominium project to be launched in Sentosa Cove. Located next to the One Degree 15 Marina, the development comprises three four-storey blocks. Facilities provided include a lap pool, gym, clubhouse and concierge service. Buyers are offered One Degree 15 Marina club membership and 40 berths will be made available for lease to owners.

    The 124-unit project will have 93 three- to four-bedroom apartments ranging from 1,873 sq ft to 3,272 sq ft and 31 penthouses (with private lap pools) measuring 3,369 sq ft to 4,693 sq ft. The project is still open for sale by the developer.


    Those who want to design and build their own homes have the chance to do so on Sentosa Cove with land parcels on offer for sale. So popular are they that all the land parcels at Sentosa Cove have been sold as at end-August 2008. There are, however, opportunities to purchase landed homes in the primary and secondary markets. Landed projects that keen buyers can still lay their hands on include:

    The Berthside: The Berthside comprises eight terraces with their own private berth and a spacious deck area for outdoor dining. It is the first landed housing development to be launched and completed in Sentosa Cove. The land size for each terrace unit ranges from 2,324 to 3,851 sq ft, with a built-up area of 4,168 sq ft to 5,170 sq ft.

    Coral Island: This is an island in the North Cove of Sentosa Cove. It houses 21 bungalows, each equipped with its own private mooring berth for a pleasure craft. The bungalows are built on land plots ranging from 6,000 sq ft to 15,000 sq ft and have built-up areas of between 6,000 sq ft and 12,000 sq ft.


    In the pipeline are some 535 condominium and landed houses in Sentosa Cove, which could potentially be launched in the next two to three quarters. These include the 105 yet-to-be-launched condominium units from Turquoise and Marina Collection as well as City Developments' 228-unit Sentosa Quayside and Ho Bee Group's 151-unit Seascape.

    Beyond the next nine months, would-be purchasers and investors can also look forward to another estimated tally of 350 condominiums and landed homes that are likely to be generated from developers' land banks.

    Buoyant demand for Sentosa Cove's resort homes has resulted in the trebling of launch prices of non-landed properties, from an average of $785 per sq ft for the first condominium project, The Berth by the Cove, launched in November 2004, to $2,800 psf for latest release for The Marina Collection in December 2007.

    Based on caveats lodged, prices of landed homes in Sentosa Cove have similarly trended up steeply. Prices of bungalows have increased some 75 per cent from an average of $743 psf of land area as at late 2005 to $1,303 psf of land area as at end-2007. For terrace houses, average prices have leaped by 185 per cent from $847 psf of land area as at 1Q 2005 to $2,414 per sq ft as at 1H 2008.

    With the stock of resort homes in Sentosa Cove capped at 2,500 units, one can be assured that the exclusivity and resort ambience of homes in the marina community will be preserved. In addition, the rising population of well-heeled expatriates brought about by Singapore's growing status as a global city and regional financial hub will continue to support demand for resort homes in Sentosa Cove. Hence, despite the current market weakness due to global economic and financial turbulence, the mid-to-long term prospects for resort homes in Sentosa Cove are bright.

    Singapore's sound political, social, economic and geographic environment that is free from natural disasters makes buying a home in this island state, be it for investment, holiday or retirement, a worthwhile option. Hence, laying one's bet on Sentosa Cove could just be the match made in investment heaven.

    Chia Siew Chuin is associate director while Audrey Tan is analyst at Research & Advisory, Colliers International

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    Seven Palms smashes price records at Sentosa Cove
    SC Global sells units at $3,100-$3,400 psf at the exclusive 4-storey project
    The Business Times
    Wednesday, 7 October 2009

    Upmarket developer SC Global Developments is said to have sold 6 units at its Seven Palms at Sentosa Cove condo at between $3,100 psf and $3,400 psf – record prices for the upscale waterfront housing district.

    On a lump-sum basis, the three and four-bedroom units were sold at about $9 million to $15 million each.

    All units in the four-storey development will face either Tanjong Beach next door, or the sea or the Tanjong Golf Course at the Sentosa Golf Club.

    Singaporeans are understood to have picked up 2 of the 6 units sold recently, with Singapore permanent residents buying the other 4.

    Market watchers reckon SC Global is probably looking at a project-average price of about $3,500 psf for Seven Palms at Sentosa Cove. The condo will comprise just 41 units.

    Standard apartment sizes range from about 2,750 sqft to 6,500 sqft.

    BT understands that the biggest unit in the 99-year-leasehold project, an 8,000-sq-ft penthouse, has a price tag of about $25 million to $30 million.

    Prior to this, the highest median price achieved by a developer of a Sentosa Cove condo was $2,734 psf seen at Lippo Group’s Marina Collection, which was released in late 2007.

    The highest price fetched for a unit in that development was $2,917 psf, for a fourth-floor unit that sold for just over $9.8 million in December 2007.

    Property consultants were generally not surprised at the record price achieved for Seven Palms, given the project’s unique positioning.

    ‘This will be the only condo on Sentosa Cove with direct access to a beach. And SC Global has established a track record of being able to command a premium to the market for its project,’ said CB Richard Ellis executive director (residential) Joseph Tan.

    ‘We’re seeing big-ticket transactions coming back to the market. For example, there are more of the $4.5 million to $12 million per apartment deals again as the bottom-up property recovery spreads to the luxury residential sector,’ he added.

    Seven Palms is designed by Kerry Hill Architects, which has designed many of the Aman resorts.

    SC Global clinched the 113,797-sq-ft plot, which was marketed as the Beachfront Collection, at a tender conducted by Sentosa Cove Pte Ltd (SCPL) and which closed in July 2007.

    Its top bid of $268.3 million worked out to nearly $1,800 psf per plot ratio. Assuming a breakeven cost of about $2,400 psf, SC Global’s pre-tax profit from the development would be more than $170 million.

    The plot has a 1.31 plot ratio (ratio of maximum potential gross floor area to land area) and a four-storey height limit. The maximum number of apartments allowed by SCPL – the district’s master planner – is 88 units.
    However, SC Global has opted to build less than half that number, but with bigger units.

    All penthouses and ground-floor apartments come with their own swimming pool and each unit in the project has a private lift. Housing in the immediate neighbourhood is bungalows.

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    Seven Palms Sentosa Cove units sold at record prices
    Channel NewsAsia
    Wednesday, 7 October 2009, 2010 hrs

    Mainboard-listed high-end property developer, SC Global, said on Wednesday it has sold six units of its project at Sentosa for record prices.

    The units of its Seven Palms Sentosa Cove development were sold at an average price of about S$11 million per residence, with prices ranging between S$3,100 and S$3,400 psf.

    These are higher than the previous peak of about S$2,734 psf for a condominium unit at Sentosa Cove.

    SC Global said it released about 10 units of the 41 available in the first phase of its sales through private previews.

    Located at the southern-most end of Sentosa Cove, the development stands on an area of about 114,000 sqft.

    The four-storey development features three, four and five bedroom units ranging from about 2,700 to 6,800 sqft.

    Penthouse units are on the 4th storey and come complete with a private roof terrace, a 10-metre lap pool, and views of the sea, the beach lagoon and the Sentosa golf course. The penthouses range from 4,000 to 8,000 sqft in size.

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    Quote Originally Posted by Reporter

    Seven Palms smashes price records at Sentosa Cove
    SC Global sells units at $3,100-$3,400 psf at the exclusive 4-storey project
    The Business Times
    Wednesday, 7 October 2009
    WOW ...

    Looks like 7 Palms is more powerful than 100 Trees !!!

    The big players are back!

    This is beginning to feel more and more like the super Bull Run of 2007 ...

    Every time this happens, I would "regret" not having bought even more properties ... am I greedy?

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    中国人组织购房团到海外买楼顺便观光,已经不是什么新闻,不过,至今却未听闻来到新加坡。与其将项目带到海外促销,或许发展商们这次可以考虑,将买家带到新加坡来?圣淘沙的名胜世界(Resort World Sentosa)开幕在即,相信要吸引一些富豪前来,应该不会找不到一个好借口……
    星期天, 15-11-2009

    远东机构的豪华共管公寓 -- 乌节史格园(Orchard Scotts),有高达25%的外国买家来自中国






    目前,中国人购买的房子虽然大多(25%)属于售价50万元至100万元的大众化档次,不过,买得起500万元以(more than $5 million)上豪宅的中国人,也大有人在

    例如远东机构的乌节史格园(Orchard Scotts),就有高达25%外国买家来自中国。这个靠近纽顿地铁站的豪华共管公寓,单位价格动辄四五百万元($4-5 million)。

    一家房地产代理公司的研究部主管也透露,最近几个星期,升涛湾(Sentosa Cove)的千万元豪宅区也出现了不少中国的超级大富豪前来看楼。










    一名房屋经纪也告诉记者,他因为提供许多附加服务,而成功争取到了一些中国大客户当中好几个授权他500万元至1000万元不等($5-10 million)的预算,代他们在新加坡买房子




    圣淘沙的名胜世界(Resort World Sentosa)开幕在即,相信要吸引一些富豪前来,应该不会找不到一个好借口……

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    Sentosa Cove looks like the safest investment in the world.

    The bungalow plots' price is guaranteed not to go below $1,650 psf.

    Where else in the world do you get such price guarantees ?

    Business Times - 16 Nov 2009

    Foreign buyer's Sentosa Cove deal falls short

    One of his two adjoining plots was resold at same price, other up for grabs


    A FOREIGN investor who bought two adjoining bungalow plots on Sentosa Cove in 2008 did not complete the transactions, it has emerged.

    Sentosa Cove has since re-sold one of the plots to a local buyer at the same price that the foreign investor had offered for it - $1,688 per square foot (psf) of land. But the other land parcel is still up for sale.

    The plot that was re-sold has a land area of about 9,700 sq ft, which means that the total amount paid for the site is about $16.4 million.

    The land parcel was first put on the market in March 2008, and sold at the end of that year through a private treaty. But after the foreign investor, who is understood to be a Chinese national, did not make payment according to schedule, the plot was put on the market again. It was sold to the local buyer about two months ago.

    Sentosa Cove's general manager Jason Yeo said that the fact that the plot was re-sold for the same price as in 2008 shows that the fundamentals of the residential enclave on Sentosa island are intact.

    His firm, which handles State land sales at Sentosa Cove, received offers to buy the property at lower prices. But he held on to it until someone offered the right price.

    However, the second plot, which is slightly bigger, has not yet received an offer deemed to be acceptable. The parcel, which is around 12,000 sq ft, was sold for about $1,650 psf to the foreign investor. The total quantum works out to around $19.8 million.

    'There has been interest from the market for the site, but they are not able to meet our reserve price,' said Mr Yeo. Sentosa Cove is not aggressively marketing the site, he said.

    The land parcel is the only one to remain unsold in the entire Sentosa Cove residential precinct, which will have 8,000 residents by the time all homes there are completed by 2014.

    Mr Yeo said that all earlier land transactions - including condominium sites sold to developers as well as landed plots sold to individuals and investors - have been completed. Work on the island is progressing well and some 3,000 residents will be living on the island by the end of this year, he added.

    Sentosa Cove has also found takers for some of the commercial space on the island. Two tenants - 7-Eleven, which will open a convenience store with a new-to-Singapore concept, and a launderette - have taken up about 30 per cent of the commercial space available at the arrival area of the Sentosa Cove residential enclave. The arrival plaza has a total lettable area of about 10,000 sq ft.

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    The Dragon has landed at Sentosa Cove ...

    Business Times - 07 Dec 2009

    It's getting hotter at Sentosa Cove

    More over-$10m home sales in Jan-Oct than in previous four years


    (SINGAPORE) Homes in Sentosa Cove drew strong interest from high-net- worth investors in the first 10 months of this year - more properties costing $10 million and above were transacted during this period than in the preceding four years.

    Property consultancy Savills Singapore said that its analysis of URA Realis data as at Dec 1, also shows that September and October this year were particularly active months.

    In fact, the three biggest ever residential transactions in Sentosa Cove - at $20.18 million, $22 million and $30 million respectively - took place during this period. The largest involved a completed bungalow at Ocean Drive which changed hands in the secondary market in October. The $30 million sale price works out to $1,753 per square foot, based on a land area of 17,115 square feet.

    BT understands that the bungalow was purchased by two Chinese citizens who are also Singapore permanent residents. The seller is a locally incorporated company ...

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    Sentosa Cove’s $10 million home sales rise
    Monday, 9 December 2009, 09:07

    24 Sentosa Cove homes that cost at least $10 million were sold in the first 10 months of the year, more than the total for the previous 4 years, the local press said.

    17 residences on the Singapore island sold for at least that price between the 4th quarter of 2004 and the 4th quarter of 2008, the Singapore-based newspaper said, citing data from Savills Singapore, a real-estate consultancy, and the Urban Redevelopment Authority.

    More than half the transactions were conducted from September to October this year, including a property that sold for a record $30 million, the report said.

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    Sentosa Cove sees increased interest
    Monday, 7 December 2009, 11:42

    Über-rich buyers are coming back, and they are buying bigger, more expensive homes, in Sentosa Cove at least. Is this a signal that 2010 will see a strong recovery in the mid-to-high end property sector, a 'top-down' recovery, so to speak? After all, Singapore's economy looks to be recovering stronger than expected.

    According to Savills, there were 14 transactions done in September and October this year which involved homes that cost above $10m. By comparison, there were only 17 such transactions in the period between Q4 2004 to Q4 2008. Prices have also risen, but have not yet reached the peaks of Q1 2008.

    And in another Savills report, foreign buyers have also increased their share of homes in Sentosa Cove too. Compared to the period between 2007-2008, which saw 38-30% foreign ownership, the first 10 months of this year saw foreign buyers taking 43% of the homes transacted.

    Let's remind you readers once again that Sentosa Cove is the only place in Singapore where foreigners don't have to be PRs to buy homes.

    Analysts say the imminent opening of the two casinos, the near completion of the Marina Bay Financial Centre (MBFC)and the fact that prices are still low compared to places like Hong Kong as factors contributing to the increased interest.

  10. #10
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    Default like to ask for your opinion

    Quote Originally Posted by jlrx
    The Dragon has landed at Sentosa Cove ...

    so far i've seen that you're very interested in the sentosa areas. I like to humbly ask,

    1) if you have the money will you buy a condo and/or landed at sentosa

    2) do the numbers so far justify the returns

    3) why sentosa compared to town properties (other reasons you feel are important but addressed at point 2)

    Many thanks for sharing.

    If you feel it's something you don't want to openly discuss, may i ask if i can get your permission to discuss this over PM with you.

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