{"id":120009,"date":"2021-01-15T04:18:08","date_gmt":"2021-01-14T21:18:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/growing-demand-for-sentosa-cove-bungalows\/"},"modified":"2021-02-02T17:52:30","modified_gmt":"2021-02-02T10:52:30","slug":"growing-demand-for-sentosa-cove-bungalows","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/growing-demand-for-sentosa-cove-bungalows\/","title":{"rendered":"Growing demand for Sentosa Cove bungalows"},"content":{"rendered":"


\nSingapore 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.
\nReal estate agents expect the healthy sales momentum for bungalows within Sentosa Cove\u2019s waterfront housing district to continue this year with the easing of travel restrictions, reported The Business Times (BT).
\nA strong pick-up in transaction volume for this segment was registered in the second half of 2020, following the end of the circuit breaker partial lockdown and the resumption of property viewings from 19 June.
\nAn analysis of URA Realis caveats database by List Sotheby\u2019s International Realty (List SIR) showed that 13 Sentosa bungalows were transacted in 2020 for a total of $195.66 million, up from 2019\u2019s four transactions which amounted to $83.39 million.
\nRecommended article:\u00a010 Cheapest Sentosa Cove Bungalows\u2014Are They Actually Affordable Now?
\nAside from the caveats data, industry estimates compiled by BT also showed that there are at least seven transactions in 2020 for which buyers did not lodge caveats.
\nSteve Tay, Senior Associate Vice-president at List SIR, noted that while last year\u2019s foreign buyers of Sentosa Cove villas were mainly from China, buyers from India and Southeast Asia are also expected to come once borders are safely opened.
\nIn fact, SRI\u2019s agents have a few groups of potential buyers, who were not only from China but also from Indonesia and Malaysia, that are waiting to enter the city-state once travel curbs are relaxed, said SRI Co-founder Bruce Lye.
\n\u201cSome are seeking permission to enter Singapore for medical treatment; while here, the plan is for them to schedule some viewings in Sentosa as well,\u201d he told BT.
\n\u201cThese people know how Singapore has been handling the pandemic; this will be a pull factor for many of them to pick up a property here,\u201d
\nMeanwhile, no transaction for Sentosa bungalow has been capture in URA Realis so far this year. However, at least six transactions are expected to materialise this year via the exercise of options to purchase that were granted earlier, said BT.
\nSome of these deals are subject to the approval of the Land Dealings (Approval) Unit or LDAU of the Singapore Land Authority.
\nSentosa Cove is the only place within the city-state where a foreigner or a non-Singapore permanent resident (PR) may seek approval to acquire a landed residential property for their own use.
\nThe six transactions are in locales like Cove Drive, Ocean Drive and Pearl Island. Of these, two comprises a pair of adjacent bungalows with sea views.
\nBT understands that the price for one pair, along Ocean Drive, stands in the mid-$40 million range. It is being sold by OUE Executive Chairman Stephen Riady\u2019s wife, Shincee Leonardi.
\nThe other pair, along Cove Drive, carries a price of $39 million and is understood to be owned by the family of Tony Phua, Chairman of high-end furniture retailer Da Vinci Collection.
\nSuggested read:\u00a0Should You Buy A Property in Sentosa Cove?
\nAside from the unique, tranquil ambiance offered by Sentosa Cove\u2019s waterfront housing precincts, Tay pointed to Sentosa Cove bungalows\u2019 relatively lower prices nowadays as another pull factor for buyers.
\nHe said bungalow prices in Sentosa Cove are generally 30% to 40% lower versus their heyday between 2010 and 2012.
\nMoreover, foreign investors have traditionally favoured Singapore due to its safe haven status, well-developed infrastructure, open economy and established education system.
\nMore recently, foreign investors found assurance on how the government responded to the pandemic in terms of support and fiscal policies to job security, businesses and the health and safety of its residents, said List SIR Research Director Han Huan Mei.
\nShe expects the opening by tech group Dyson of a global headquarters at St James Power Station \u2013 expected after 2021 \u2013 to become a new source of demand for Sentosa Cove homes.
\n\u201cFor the expat professionals at the Dyson HQ, Sentosa Cove would be an ideal place to rent, or even buy, a home,\u201d she added as quoted by BT.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Growing demand for Sentosa Cove bungalows<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore continues to draw foreign buyers despite travel restrictions, partly due to\u00a0its success in handling...<\/p>\n","protected":false},"author":1,"featured_media":120010,"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-120009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/sentosa_cove.original.jpg?fit=840%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vdD","jetpack-related-posts":[{"id":61282,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-pick-up-in-sales-of-gcbs-and-sentosa-cove-homes\/","url_meta":{"origin":120009,"position":0},"title":"Strong pick-up in sales of GCBs and Sentosa Cove homes","date":"July 20, 2017","format":false,"excerpt":"\r View of waterfront bungalows in Sentosa Cove. Sales of good class bungalows (GCBs) and Sentosa Cove homes picked up in the first half of 2017 from a year ago, according to a report by List Sotheby\u2019s International Realty, Singapore. Based on caveats lodged with URA Realis, 20 GCBs and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22468,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-bungalow-sales-seen-in-sentosa-cove\/","url_meta":{"origin":120009,"position":1},"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. The transaction, which will be done via\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59052,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-of-sentosa-cove-homes-rebound\/","url_meta":{"origin":120009,"position":2},"title":"Sales of Sentosa Cove homes rebound","date":"June 27, 2017","format":false,"excerpt":"\r \u00a0 Sales of upscale houses in Sentosa Cove is starting to pick up despite reports of many unoccupied units and home owners selling their homes houses at huge losses, reported The Straits Times. So far this year, caveats have been lodged for seven bungalows at the posh enclave collectively\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":120009,"position":3},"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":60068,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-bungalow-up-for-sale-for-s20-8mil\/","url_meta":{"origin":120009,"position":4},"title":"Sentosa Cove bungalow up for sale for S$20.8mil","date":"July 7, 2017","format":false,"excerpt":"\r A two-storey bungalow in Sentosa Cove has been put up for sale for S$20.8 million, which works out to S$2,378 per sq ft. based on the property\u2019s 8,746 sq ft. land area, reported New Straits Times. Marketing agent List Sotheby\u2019s Singapore revealed that the property on 65 Ocean Drive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63708,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-sales-expected-to-gradually-rise\/","url_meta":{"origin":120009,"position":5},"title":"Luxury home sales expected to gradually rise","date":"August 15, 2017","format":false,"excerpt":"\r \u00a0 A total of 22 good class bungalows (GCB) collectively worth S$463.91 million changed hands in 1H 2017, up from 14 GCBs with a combined value of S$298.36 million in the same period a year ago, according to a report from CBRE. \u201cThe largest deal was that of a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/120009"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=120009"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/120009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/120010"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=120009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=120009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=120009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}