{"id":104373,"date":"2019-02-25T12:52:29","date_gmt":"2019-02-25T05:52:29","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-wants-govt-to-help-sentosa-property-market\/"},"modified":"2019-02-25T13:12:02","modified_gmt":"2019-02-25T06:12:02","slug":"cdl-wants-govt-to-help-sentosa-property-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-wants-govt-to-help-sentosa-property-market\/","title":{"rendered":"CDL wants govt to help Sentosa property market"},"content":{"rendered":"


\nThe developer is urging the Singapore government to transform the island resort into a vibrant tourist hotspot like Indonesia\u2019s Bali.\u00a0
\nAmidst the weak luxury housing market in Sentosa, City Developments Limited (CDL) is urging the Singapore government to transform the island into a vibrant tourist hotspot like Indonesia\u2019s Bali, reported Bloomberg.
\n\u201cSentosa was touted when it first started (as an island) for the rich and famous,\u201d said the property developer\u2019s executive chairman Kwek Leng Beng during the release of its latest financial results last week.
\nMore: Sales At CDL Projects Remain Healthy: Report
\n\u201cSubsequently, her parents (government) just forgot about this young lady (Sentosa). I would like to suggest that they should reposition it as the new Bali.\u201d
\nHe said this in a bid to turn things around for Sentosa, which is currently in a bad situation. Although the island is the only place here where foreigners can purchase landed homes, many multimillion-dollar luxury houses there are vacant, as the stamp duty for overseas property buyers have doubled to 20 percent since 2011.
\nMeanwhile, a report from DBS Equity Research revealed that CDL\u2019s property sales increased by 14 percent year-on-year to $2.2 billion for the whole of 2018, although transactions slipped by 5.0 percent to 1,113 units.
\nSales were driven by New Futura, where 93 percent of the units were sold at an average selling price of $3,500 psf as of 17 February. The Tapestry moved 67 percent of its units at $1,350 psf, Whistler Grand found buyers for 36 percent of its homes for $1,380 psf, while The Jovell moved 14 percent of units at $1,250 psf to $1,300 psf. The South Beach Residences also saw the take-up of 53 units, including the 6,728 sq ft super penthouse costing about $26 million.
\nDBS also said that CDL has the biggest stock of unsold units, but the report didn\u2019t mention the figure.
\nLooking ahead, the research house expects CDL to launch 2,434 units in 2019. These include Boulevard 88 (154 units), Amber Park (592 units), Handy Road (188 units), Sumang Walk EC (820 units) and Sengkang Central (680 units).
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CDL wants govt to help Sentosa property market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The developer is urging the Singapore government to transform the island resort into a vibrant...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-104373","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-r9r","jetpack-related-posts":[{"id":96591,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-bungalow-snapped-up-for-33-3mil\/","url_meta":{"origin":104373,"position":0},"title":"Sentosa Cove bungalow snapped up for $33.3mil","date":"August 24, 2018","format":false,"excerpt":"\r A single-storey bungalow in Sentosa Cove has been sold to a Singapore permanent resident (PR) for $33.3 million \u2013 the highest price achieved for a Sentosa Cove bungalow since 2013. The property fetched a $33.3 million price, which worked out to $1,795 per sq ft, due to several unique\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121723,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-sales-in-sentosa-cove-reach-new-record\/","url_meta":{"origin":104373,"position":1},"title":"Home sales in Sentosa Cove reach new record","date":"August 30, 2021","format":false,"excerpt":"\r Home sales in Sentosa Cove reach new recordSome analysts believe the high transaction volumes in Sentosa is a spillover from the growing demand for luxury homes within the Rest of Central Region (RCR), considering that prices on the island remain relatively lower compared to those on the mainland. Sentosa\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/Sentosa-cove-apartments-1.jpg?fit=819%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":78537,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-property-market-stabilising\/","url_meta":{"origin":104373,"position":2},"title":"Sentosa Cove property market stabilising","date":"January 31, 2018","format":false,"excerpt":"\r Amidst the recovery of Singapore\u2019s private housing market, prices of luxury properties in Sentosa Cove have stopped declining last year and appear to be finding a firm footing, according to Colliers International\u2019s Singapore Research Head Tricia Song. She told Reuters that the area\u2019s property market suffered the most when\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96181,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-capitaland-bags-prime-site-in-sengkang-central\/","url_meta":{"origin":104373,"position":3},"title":"CDL-CapitaLand bags prime site in Sengkang Central","date":"August 17, 2018","format":false,"excerpt":"\r A joint venture (JV) between CapitaLand and City Developments Ltd (CDL) has clinched a prime mixed-use site in the heart of Sengkang Central for $777.78 million ($923.6 psf ppr), announced the Urban Redevelopment Authority (URA) on Thursday (16 August). The JV said the 3.7ha (401,008 sq ft) site is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120009,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/growing-demand-for-sentosa-cove-bungalows\/","url_meta":{"origin":104373,"position":4},"title":"Growing demand for Sentosa Cove bungalows","date":"January 15, 2021","format":false,"excerpt":"\r Singapore continues to draw foreign buyers despite travel restrictions, partly due to\u00a0its success in handling the pandemic.\u00a0Sentosa Cove is the only place where a foreigner may seek approval to acquire a\u00a0landed residential property\u00a0for their own use. Real estate agents expect the healthy sales momentum for bungalows within Sentosa Cove\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/sentosa_cove.original.jpg?fit=840%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":22468,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-bungalow-sales-seen-in-sentosa-cove\/","url_meta":{"origin":104373,"position":5},"title":"More bungalow sales seen in Sentosa Cove","date":"August 10, 2016","format":false,"excerpt":"\r View of waterfront bungalows in Sentosa Cove. Sentosa Cove has witnessed an improvement in bungalow deals lately, with the bulk sale for the 10 remaining bungalows on Pearl Island, one of the district\u2019s five man-made islands, entered into, reported The Business Times. 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