Thursday, November 7, 2013

Sentosa Cove: Good time to buy now?

Demand for luxury homes in Sentosa Cove may be softening but it is not losing its shine just yet.

Property experts said prices in Sentosa Cove are set to make a rebound, even hitting previous highs seen in 2008 before the global financial crisis.

The upbeat sentiment came following a report by Colliers International on Tuesday which said Sentosa Cove properties are now cheaper than mass market condominiums.

The sun, the sea, and the serenity are among the factors that lure home buyers to snap up properties in Sentosa Cove.

For some, Sentosa Cove also offers a perfect lifestyle and their purchases are not just for investment.

Sentosa Cove is also the only place where foreigners can own landed property without any restrictions in Singapore.

Samuel Eyo, director at Savills Singapore, said: “It is for different kind of people who want to live in Sentosa Cove, and for foreigners who love to stay in Singapore but don't want to stay too much in concrete areas like Orchard Road. For those who work from home like hedge fund managers, they would love to stay there because of the proximity to town and yet, they can enjoy the sea breeze and sun where you can't enjoy on Orchard Road.”

Property prices and rental yields for Sentosa Cove properties have been on the decline.
The latest report by Colliers said the difference in prices between condominium units there and those located in the mainland's Outside Central Region (OCR) is now at a historically low level.

The median price of condominium units in Sentosa Cove in the third quarter this year being just 26% higher than the $1,311 psf median price of 99-year leasehold mass-market condominiums located in the suburbs.

Analysts said the dip in rental yields for Sentosa Cove properties have also prompted investors to shun high-end waterfront marina residential properties.

Public transport on the mainland is more accessible than on Sentosa, making private transport vital for residents in Sentosa Cove to get around.

But getting a car just to get around would be a substantial cost in addition to the stamp duties imposed to cool the property market.

Analysts do not see loan curbs as a hindrance because buyers of Sentosa Cove are typically cash-rich.

Still, some analysts said Sentosa Cove properties should offer high net worth individuals better capital appreciation potential compared to similar developments in other cosmopolitan cities.

But for property prices to recover, various cooling measures, especially the additional buyers' stamp duty (ABSD) must be removed.

Colin Tan, CEO at Vestor Realty, said: “Our high end residential homes are artificially deflated. If you are looking at $1,646 per sq ft in Sentosa, that is ridiculously low in my opinion. In Hong Kong, Kowloon West, properties there in the high end area has already reached HK$40,000 psf - that is about four times more than in Singapore.”

Expected to be fully developed by 2014, Sentosa Cove will house over 2,100 homes comprising condominiums, terrace houses and bungalows.

All homes on the island are sold with a 99-year or 103-year leasehold tenure.

Market experts said such limited supply of homes on Sentosa Cove will help support prices. 

Source: Channel News Asia

75 comments:

Anonymous said...

Sentosa condo prices down: Colliers report....Overall Private sales in a downturn..

Link : http://www.propertyguru.com.sg/property-management-news/2013/11/36888/sentosa-condo-prices-down-colliers-report

Anonymous said...

Demand for new private homes in Singapore down 19% ...

Link below...
http://www.channelnewsasia.com/news/singapore/demand-for-new-private/887530.html

Nunah Mikhail said...

I was searching for many blogs site and now finally I have got this cool place with lots of information.

Anonymous said...

Interest in Singapore Private homes has dimmed in Nov'13.

http://www.stproperty.sg/articles-property/singapore-property-news/interest-in-private-projects-wanes/a/144727

Anonymous said...

Pace of new condo sales slows in Singapore during Nov'13..... http://www.propertyguru.com.sg/property-management-news/2013/11/36980/pace-of-new-condo-sales-slows

jebunnesa arzu said...

Well somehow I got to read lots of articles on your blog. It’s amazing how interesting it is for me to visit you very often. Events in Property

Anonymous said...

Singapore Resale private home prices drop further in Nov'13.... ....

http://www.propertyguru.com.sg/property-management-news/2013/11/36987/resale-private-home-prices-drop-further

Anonymous said...

Singapore Resale private home prices drop further in Nov'13.... ....

http://www.propertyguru.com.sg/property-management-news/2013/11/36987/resale-private-home-prices-drop-further

Singapore New Launch said...

Great read. Luxury segment is still a good market. Just have to wait till people are used to the new measures. New Condo Launch

Anonymous said...

Singapore Resale private home prices drop further in Nov'13.... ....

http://www.propertyguru.com.sg/property-management-news/2013/11/36987/resale-private-home-prices-drop-further

Anonymous said...

Maybank said in 2014 “a ~10 percent decline in private residential property prices, led by the mass market segment.”

Link.....
http://www.propertyguru.com.sg/property-management-news/2013/12/37064/new-home-sales-to-moderate-next-year-says-maybank

Anonymous said...

Prime retail in Orchard road down by 2.1% published on 27th Dec..
link below....
http://www.propertyguru.com.sg/property-management-news/2013/12/37092/prime-retail-rents-in-orchard-road-down-2-1-

Anonymous said...

2014 Condo sales is going to be a buyers market...hope there are good bargainers around...

Anonymous said...

Large drop in private home sales in 2013...click on the link below....

http://www.stproperty.sg/articles-property/singapore-property-news/large-drop-in-private-home-sales-in-2013/a/148699

Jenny Parsons said...

2014 is a good for singapore property market, Coz there are several project started in Singapore and its a good time to invest in property in Singapore....

Anonymous said...

Premature to unwind cooling measures: Maybank Kim Eng

link below : http://www.stproperty.sg/articles-property/singapore-property-news/premature-to-unwind-cooling-measures-maybank-kim-eng/a/149761

Anonymous said...

In Dec'13 only 250 resale units were transacted compared to 744units in Dec'12. Big drop in quantity and price in Dec'13. Prediction that this will continue in 2014.

Anonymous said...

Private condo rentals fall to 2-year low: SRX on 14 jan 2014

http://www.todayonline.com/business/private-condo-rentals-fall-2-year-low-srx

Anonymous said...

http://www.forbes.com/sites/jessecolombo/2014/01/13/why-singapores-economy-is-heading-for-an-iceland-style-meltdown/3/

Anonymous said...

Rental yields of non-landed private homes down at 3.9%

http://www.stproperty.sg/articles-property/singapore-property-news/rental-yields-of-non-landed-private-homes-down-at-39/a/150485

Anonymous said...

Luxury home prices to dip by 0.5%: Knight Frank

http://www.propertyguru.com.sg/property-management-news/2014/1/37201/luxury-home-prices-to-dip-by-0-5-knight-frank

Anonymous said...

Secondary-market deals at lowest level since 2004. The number of private homes changing hands in the secondary market halved from 15,678 units in 2012 to 7,695 units last year - the lowest volume since 2004, when 6,476 units were sold, according to a caveats analysis by DTZ......

http://www.stproperty.sg/articles-property/singapore-property-news/secondary-market-deals-at-lowest-level-since-2004/a/151071

Riya Sharma said...

Thanks you for Sharing This Post. Nice Blog


Flats in Dwarka

Anonymous said...

Housing market slowing down on all fronts....EVIDENCE is mounting quickly that Singapore's housing market is slowing down on all fronts.

http://www.stproperty.sg/articles-property/singapore-property-news/housing-market-slowing-down-on-all-fronts/a/151397

Anonymous said...

Private home resale prices slide 0.7%....Published on 29 Jan 2014....

http://www.stproperty.sg/articles-property/singapore-property-news/private-home-resale-prices-slide-07/a/151831

Anonymous said...

Expert predicts 10% price decline...One industry expert is predicting a 10 percent across-the-board decline for residential property prices in Singapore this year.

Carmen Lee, Head of Research at OCBC Investment Research, said the mass market segment will likely be hardest hit, with prices dropping by up to 15 percent.

http://www.propertyguru.com.sg/property-management-news/2014/1/37275/expert-predicts-10-price-decline

Anonymous said...

Private home sales to fall further: Barclays..

http://www.propertyguru.com.sg/property-management-news/2014/2/37287/private-home-sales-to-fall-further-barclays


Anonymous said...

Housing loan growth in Singapore fell to 9.5 percent in 2013 from 15.9 percent in 2012, indicating weaker property sales as well as a higher base factor, said Maybank Kim Eng.

http://www.propertyguru.com.sg/property-management-news/2014/2/37299/housing-loan-growth-to-slow-further

Anonymous said...

Property sector hopes for the pain to end.

http://www.stproperty.sg/articles-property/singapore-property-news/property-sector-hopes-for-the-pain-to-end/a/152677

Anonymous said...

Home launches and sales in suburbs shrink dramatically

Figures at their lowest since 2008 as loan curbs cool market sentiment....
....
http://www.stproperty.sg/articles-property/singapore-property-news/home-launches-and-sales-in-suburbs-shrink-dramatically/a/153120

Anonymous said...

Singapore Resale of non-landed homes in Jan 2014 down 70%.........

http://www.stproperty.sg/articles-property/singapore-property-news/resale-of-non-landed-homes-in-jan-down-70/a/153164

SRX said...

In the past years, the Sin Government released a lot of cooling measures to stable current Sin Property level, you can check Singapore real estate exchange(SRX) for your references.

Anonymous said...

Developers sweetening deals to woo home buyers....

One project enticing buyers with car deals, another with discounts.....
http://www.stproperty.sg/articles-property/singapore-property-news/developers-sweetening-deals-to-woo-home-buyers/a/153533

Anonymous said...

Singapore Sales of smaller units decline...14th feb 2013...
http://www.propertyguru.com.sg/property-management-news/2014/2/37357/sales-of-smaller-units-decline

Anonymous said...

Singapore Home prices may drop 15% this year: DBS CEO on 15th Feb 2014. Link below @ http://www.todayonline.com/business/home-prices-may-drop-15-year-dbs-ceo

Anonymous said...

New private home sales may fall 20-30% in 2014.

http://www.propertyguru.com.sg/property-management-news/2014/2/37369/new-private-home-sales-may-fall-20-30-in-2014

Anonymous said...

RSVP if you are free to attend
There is an event held by E&O at raffles:
http://www.propertyguru.com.sg/events-andamanquayside

Anonymous said...

S'pore private home rent rates expected to fall

Analysts see decline in demand as expatriate population shrinks

http://www.stproperty.sg/articles-property/singapore-property-news/spore-private-home-rent-rates-expected-to-fall/a/155128

Anonymous said...

Home prices could dip 20% by end-2015...
http://www.stproperty.sg/articles-property/singapore-property-news/home-prices-could-dip-20-by-end-2015/a/138302

Anonymous said...

Singapore named world's most expensive city: Economist Intelligence Unit on 4th March 2014.!!!!
http://www.propertyguru.com.sg/property-management-news/2014/3/37440/singapore-named-world-s-most-expensive-city-econom

SUDHANSHU SAXENA said...

really an awsm blog...
Residential Property For Buy

Anonymous said...

S'pore private home rent rates expected to fall..
http://www.sgpropertyhome.com/apps/blog/show/41856111-s-pore-private-home-rent-rates-expected-to-fall

Anonymous said...

Prices of non-landed private resale homes fall 2% in Feb, transactions tumble to 5-year low!!!!!
http://www.stproperty.sg/articles-property/singapore-property-news/prices-of-non-landed-private-resale-homes-fall-2-in-feb-transactions-tumble-to-5-year-low/a/156413

Anonymous said...

Home prices 'may fall up to 10%' in 2014.

Mass market units may be hardest hit with prices plunging up to 15%: OCBC.

http://www.stproperty.sg/articles-property/singapore-property-news/home-prices-may-fall-up-to-10-in-2014/a/151643

Anonymous said...

Property Trends in Singapore for 2014 and beyond

Suffice to say, the numerous property cooling regulations imposed by MND, URA, MAS, IRAS have done much to curb the speculative fever and more....

http://www.stproperty.sg/articles-property/singapore-property-news/property-trends-in-singapore-for-2014-and-beyond/a/157355

Anonymous said...

Prices dip for housing units at uncompleted projects...
http://www.stproperty.sg/articles-property/singapore-property-news/prices-dip-for-housing-units-at-uncompleted-projects/a/157568

Anonymous said...

Free Web in Singapore estimates of HDB flat, condo values realtime. No more scams in prices.

www.srx.com.sg.


http://www.stproperty.sg/articles-property/singapore-property-news/free-web-estimates-of-hdb-flat-condo-values/a/157829

Anonymous said...

Free Web in Singapore estimates of HDB flat, condo values realtime. No more scams in prices.

www.srx.com.sg.


http://www.stproperty.sg/articles-property/singapore-property-news/free-web-estimates-of-hdb-flat-condo-values/a/157829

Anonymous said...

Singapore Private home resale prices drop 0.4% in Feb, dragged down by "shoebox" units - Published on Strait times 28/03/2014....
http://www.straitstimes.com/breaking-news/money/story/private-home-resale-prices-drop-04-feb-dragged-down-shoebox-units-20140328

Anonymous said...

Singapore Private home resale prices keep sliding (29 March 2014)..resale prices fell 0.4 per cent in February...
http://www.thepropertyeffect.com/private-home-resale-prices-keep-sliding-29-march-2014/

Anonymous said...

Singapore Property industry salaries decline...
http://www.propertyguru.com.sg/property-management-news/2014/4/37617/property-industry-salaries-decline

Anonymous said...

Singapore High-end home prices to decline 3-4% by Q4...

http://www.propertyguru.com.sg/property-management-news/2014/4/37623/high-end-home-prices-to-decline-3-4-by-q4

Anonymous said...

Singapore Resale property market slow down in March 2014....
http://singaporepropertyhighlights.wordpress.com/2012/03/24/resale-property-market-slow/

Anonymous said...

62% drop in Singapore private resale home sales....March 2014...

http://www.propertyguru.com.sg/property-management-news/2014/4/37633/62-drop-in-private-resale-home-sales

Anonymous said...

Bleak outlook for Singapore private home sales .

ANYONE trying to sell a private home in the first quarter would not need reminding that an air of gloom has settled over the market.

http://www.stproperty.sg/articles-property/singapore-property-news/bleak-outlook-for-private-home-sales/a/160558

Anonymous said...

62% drop in Singapore private resale home sales....March 2014...

http://www.propertyguru.com.sg/property-management-news/2014/4/37633/62-drop-in-private-resale-home-sales

Anonymous said...

Singapore New private property sales sink below 500 units in March!!

http://www.todayonline.com/singapore/new-private-property-sales-sink-below-500-units-march

Anonymous said...

62% drop in Singapore private resale home sales....March 2014...

http://www.propertyguru.com.sg/property-management-news/2014/4/37633/62-drop-in-private-resale-home-sales

Anonymous said...

Hi, is there an email contact that I am able to liaise with, for invitation to property launches?

Anonymous said...

Singapore resale private home prices slide again in March by 1.1% - published on 28 April 2014 by Strait times.###

http://www.straitstimes.com/news/business/property/story/singapore-resale-private-home-prices-slide-again-march-11-20140428?page=11

Anonymous said...

Singapore Home prices 'may fall up to 10%' in 2014..

http://www.stproperty.sg/articles-property/singapore-property-news/home-prices-may-fall-up-to-10-in-2014/a/151643

Anonymous said...

62% drop in Singapore private resale home sales...

http://www.propertyguru.com.sg/property-management-news/2014/4/37633/62-drop-in-private-resale-home-sales

Anonymous said...

62% drop in Singapore private resale home sales...

http://www.propertyguru.com.sg/property-management-news/2014/4/37633/62-drop-in-private-resale-home-sales

Anonymous said...

Singapore HDB resale prices to fall 5-8%.

http://www.propertyguru.com.sg/property-management-news/2014/5/37765/hdb-resale-prices-to-fall-5-8-

Anonymous said...

Singapore Home Prices Slide for Second Straight Quarter. April 2014

http://www.bloomberg.com/news/2014-04-01/singapore-home-prices-slide-for-second-straight-quarter.html

Anonymous said...

62% drop in Singapore private resale home sales....March 2014...

http://www.propertyguru.com.sg/property-management-news/2014/4/37633/62-drop-in-private-resale-home-sales

Anonymous said...

Singapore Resale prices for non-landed private homes fall to 16-mth low: SRX-

RESALE prices of non-landed private homes slipped 1.7 per cent in April, touching a 16-month low since December 2012.-

http://www.stproperty.sg/articles-property/singapore-property-news/resale-prices-for-non-landed-private-homes-fall-to-16-mth-low-srx/a/164196

Anonymous said...

Singapore Resale deals of non-landed private homes jump as prices fall for April 2014- Published on 12th May 2014 Strait times

See more at:

http://www.straitstimes.com/news/business/property/story/resale-deals-non-landed-private-homes-jump-prices-fall-20140512?page=1#sthash.34VajF70.dpuf

Anonymous said...

Singapore Price cuts revive April private home sales; further discounts expected..

http://www.stproperty.sg/articles-property/singapore-property-news/price-cuts-revive-april-private-home-sales-further-discounts-expected/a/164586

Anonymous said...

62% drop in Singapore private resale home sales...

http://www.propertyguru.com.sg/property-management-news/2014/4/37633/62-drop-in-private-resale-home-sales

Anonymous said...

Singapore Price cuts revive April private home sales; further discounts expected.

http://www.stproperty.sg/articles-property/singapore-property-news/price-cuts-revive-april-private-home-sales-further-discounts-expected/a/164586

Anonymous said...

62% drop in Singapore private resale home sales...

http://www.propertyguru.com.sg/property-management-news/2014/4/37633/62-drop-in-private-resale-home-sales

Anonymous said...

Singapore real estate - 50 projects record poor sales. 21 May 2014.-
http://www.propertyguru.com.sg/property-management-news/2014/5/37839/50-projects-record-poor-sales

the coast sentosa said...

Thank you for such interesting post!

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