Sentosa Cove Units Sold Like Hotcakes After a Nearly 40% Off Their Initial Launch Price

Any Tom, Dick, and Harry can buy stuff during the Great Singapore Sale, but not anyone can afford to take part in the “Great Sentosa Sale”.

Slashed Prices of Sentosa Cove Units

65 units at The Residences at W Singapore Sentosa Cove were sold on 15 and 16 April after prices were slashed by over 40% from its initial sales launch in 2010.

Approximately 3,200 visitors showed up for the viewings from 10 to 14 April, said a spokesman for Cityview Place Holdings, which owns 203 of the 228 units at the development.

Cityview released 58 units for sale on the first day, 45 of which (77.6%), including four penthouses, were sold.

Another 20 units were sold the next day after Cityview released additional units.

The 65 units were sold at an average selling price of $1,780 per sq ft (psf).

In comparison, the median price of Sentosa Cove condominiums sold from January to March this year was $1,999 psf.

The Cityview spokesperson said that 94% of the buyers are Singaporeans and permanent residents, while the remaining 6% are from China, France, and the United States.

Previously: Hefty Prices and Low Sales

Units at The Residences at W were priced from $2,500 psf to $3,000 psf during its launch back in 2010.

So you can see, $1,780 psf is such a steal. If you have millions of dollars, that is.

Urban Redevelopment Authority data showed only 20 caveated transactions for the development, with all 20 being made in the launch year.

A caveat is lodged with the Singapore Land Authority and it secures a property for the buyer, but not all buyers lodge caveats.

Must’ve been a nice and quiet getaway from the hustle and bustle given the lack of neighbours there.

The sales of condo units in Sentosa were hit by a series of property cooling measures introduced from 2010.

When the project was completed in 2011, cooling measures were further tightened due to the introduction of the additional buyer’s stamp duty.

Only five resale transactions were recorded between 2012 and 2023.

It seems the price slash really did the trick, huh.

Of course, there’s also the fact that living there is now more convenient than pre-pandemic times.

Although Sentosa used to be seen as slightly inconvenient or out of the way, living there is now easier than ever given rise of remote or hybrid working.

Residents there no longer have to go through the hassle of long commute to work and back since they can simply work from home.

The Residences at W – A “W” Residence

Did you see what I did there?

No? Ok, go brush up on your slang.

Located in Sentosa Cove, The Residences at W offers significant benefits to its residents, encompassing exclusivity, accessibility, and a myriad of recreational activities, all set within a serene environment.

And, of course, it’s pretty cool to respond with “Sentosa” when people ask you where you live.

Living in Sentosa Cove means you’re only a stone’s throw away from attractions like Universal Studios Singapore and Adventure Cove Waterpark. Residents there can also get to the beaches quickly to chope a spot.

Sentosa is also home to Vivocity, the country’s largest shopping mall. So you can be assured you’ll never run out of food and entertainment as a resident.

But why are you reading this ah, you can’t even afford to get fish when you order cai png, still want to think about owning a house at Sentosa ah?

Reader: Caught me there…