Case Study : Sentosa Cove Bungalow Sale

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1) Sentosa Cove Bungalow Sale realises 23.8 million The sale of a bungalow in the prestigious Sentosa Cove recently realized 23.8 million Singapore dollars, around 2,775 Singapore dollars psf on the 8,576 sq. ft. land area. The bungalow stands in Lakeshore View, facing the Serapong Golf Course and it overlooks the ocean. The per square foot price for this bungalow is the highest achieved since the sales of two properties in the same road one in May 2013 at 2,952 Singapore dollars per square foot and the other in June 2013 at 2,922 Singapore dollars per square foot. Both sales completed before the Total Debt Servicing Ratio framework was introduced later in June of 2013. The bungalow sold in 2015 in Lakeshore View benefits from a Jacuzzi…show more content…
Supply is limited, there are only just over 360 bungalows in Sentosa Cove and there will be no more Sentosa Cove land released for villa building. Whilst there are more villa viewings in Sentosa Cove is higher this year than last, the volume of sales is very much less than that prior to the introduction of the Total Debt Servicing Ratio framework. In the year to date six bungalows, including the recent Lakeshore View sale, have been sold, in 2014 only three sales transactions took place on Sentosa Cove bungalows. There were 18 sales transactions for Sentosa Cove villas in 2013 and 23 in 2012 but in 2010 and 2009 there were 54 and 36 sales respectively, after which sales activity in the area slowed to 24 in 2011, due to the government beginning its actions to cool Singapore’s the property market. On a lighter note, a property insider says that buyers have the advantage in the current market, when there is the opportunity lower prices rather than when the market is more buoyant and sellers will have higher expectations. Although bungalow sales at Sentosa Cove are slow the leasing market has been busy. Tenants are foreign nationals mainly from Western countries taking two to three year leases, with rentals between 20,000 and 30,000 per month according to the bungalow’s situation, size and frontage. Tenants are mainly high ranking company executives. Bungalow rents in Sentosa Cove have lowered

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