{"id":65058,"date":"2017-08-31T10:16:24","date_gmt":"2017-08-31T03:16:24","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/waterfront-condo-at-sentosa-sold-at-3-8m-loss\/"},"modified":"2017-08-31T10:19:00","modified_gmt":"2017-08-31T03:19:00","slug":"waterfront-condo-at-sentosa-sold-at-3-8m-loss","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/waterfront-condo-at-sentosa-sold-at-3-8m-loss\/","title":{"rendered":"Waterfront condo at Sentosa sold at $3.8m loss"},"content":{"rendered":"


\n\u00a0
\nDespite an uptick in interest over the last two months, property prices in Sentosa Cove remained depressed, with a 4,069 sq ft waterfront apartment at Seascape sold at a loss of almost S$4 million, reported The Straits Times.
\nBought in 2010 by Dyna-Mac Holdings chairman and chief executive Lim Tze Jong for around S$12.8 million, the luxury apartment went for S$9 million last month, showed Urban Redevelopment Authority (URA) data.
\nIt was sold to a foreigner after about six months on the market.
\nThe $2,212 psf price achieved for the unit was an improvement from $1,524 psf price achieved for a similar unit earlier in the year. Located at the higher level of Seascape, the apartment was sold for S$6.2 million, which translated to an eye-popping loss of S$6.6 million given that it was acquired for S$12.8 million in June 2010.
\nSEE ALSO:\u00a0Sentosa Cove properties no longer profitable?
\nKnight Frank revealed that it was the most red ink transaction out of the 16-loss making deals registered from April 2016 to 31 March 2017. In fact, only 11 of the 30 transactions involving Sentosa Cove properties notched up gains during the period.
\n\u201cThe property market is stirring but Sentosa is a very fickle market,\u201d said Savills Singapore research head Alan Cheong.
\n\u201cPrices have reached a point where they are close to the mid-tier market on the mainland, which is why interest is growing for Sentosa Cove properties.\u201d
\nAlice Tan, head of consultancy and research at Knight Frank, noted that while most people are looking at Sentosa Cove, the area is not \u201ca prime target compared with prime districts 9 and 10\u201d.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Waterfront condo at Sentosa sold at .8m loss<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Despite an uptick in interest over the last two months, property prices in Sentosa...<\/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-65058","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-gVk","jetpack-related-posts":[{"id":121723,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-sales-in-sentosa-cove-reach-new-record\/","url_meta":{"origin":65058,"position":0},"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":50960,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-condo-sold-at-6-6m-loss\/","url_meta":{"origin":65058,"position":1},"title":"Sentosa Cove condo sold at $6.6m loss","date":"April 5, 2017","format":false,"excerpt":"\r View of Seascape @ Sentosa Cove. (Photo: JLL) A condominium unit at Seascape @ Sentosa Cove was auctioned off at a $6.6 million loss when a Singaporean buyer bought it for just $6.2 million \u2013 making it the standout deal in the auction market for Q1 2017, reported the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108094,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-condo-sold-at-50-loss\/","url_meta":{"origin":65058,"position":2},"title":"Sentosa Cove condo sold at 50% loss","date":"June 14, 2019","format":false,"excerpt":"\r Cushman & Wakefield data showed that resale property prices on the resort island fell to $1,367 per sq ft (psf) \u2013 a record low since luxury residential properties were first launched in Sentosa Cove in November 2004. The property cooling measures rolled out by the government in July 2018\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81488,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-penthouse-sold-at-2-4-million-loss\/","url_meta":{"origin":65058,"position":3},"title":"Sentosa Cove penthouse sold at $2.4 million loss","date":"March 1, 2018","format":false,"excerpt":"\r The four-bedroom unit at The Berth by the Cove was sold for $3.25 million, or $1,105 psf. (Photo: Edmund Tie)\u00a0 A two-level penthouse at Sentosa Cove\u2019s posh The Berth by the Cove was sold on mortgagee sale at an auction on Wednesday (28 Feb) for $3.25 million, which works\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107961,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seller-incurs-us2-3-million-50-per-cent-loss-on-unit-at-seascape-as-singapores-sentosa-cove-continues-to-struggle\/","url_meta":{"origin":65058,"position":4},"title":"Seller incurs US$2.3 million, 50 per cent loss on unit at Seascape as Singapore\u2019s Sentosa Cove continues to struggle","date":"June 10, 2019","format":false,"excerpt":"\r The loss-making deals continue at Sentosa Cove, a billionaire\u2019s playground in Singapore that has become a lesson about the pitfalls of property speculation.The seller of a 2,336 square foot, three-bedroom home at Seascape incurred a S$3.17 million (US$2.32 million) loss on May 23, the most unprofitable transaction in Singapore\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66046,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kong-hees-sentosa-home-relisted-for-11-5m\/","url_meta":{"origin":65058,"position":5},"title":"Kong Hee\u2019s Sentosa home relisted for $11.5m","date":"September 11, 2017","format":false,"excerpt":"\r There has been an increased interest in Sentosa Cove homes as prices have gradually moved closer to that of mass market condos. In a sign that the luxury condo market is picking up steam again, the Sentosa Cove penthouse unit of City Harvest Church founder Kong Hee was relisted\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\/65058"}],"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=65058"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/65058\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=65058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=65058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=65058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}