{"id":66046,"date":"2017-09-11T10:58:41","date_gmt":"2017-09-11T03:58:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/kong-hees-sentosa-home-relisted-for-11-5m\/"},"modified":"2017-09-11T10:59:20","modified_gmt":"2017-09-11T03:59:20","slug":"kong-hees-sentosa-home-relisted-for-11-5m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kong-hees-sentosa-home-relisted-for-11-5m\/","title":{"rendered":"Kong Hee\u2019s Sentosa home relisted for $11.5m"},"content":{"rendered":"


\nThere has been an increased interest in Sentosa Cove homes as prices have gradually moved closer to that of mass market condos.
\nIn 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 last week for $11.5 million, up 15 percent from its 2015 asking price of $10 million, reported the Straits Times.
\nThe 5,242 sq ft property, which was co-owned by Kong Hee and Indonesian tycoon Wahju Hanafi, was bought for $9.33 million in 2007.
\nSEE ALSO: Kong Hee\u2019s home on sale for $10m
\nServing a three-and-a-half-year jail term for misappropriating $50 million in church funds, Kong described the property in 2015 as a \u201ctemporary home\u201d for the family as they waited for it to be sold.
\nThe owners\u2019 agent Sally Soh of KF Property Network revealed that three parties have visited the property since it was relisted at a higher price.
\nIf sold, the value of the unit would translate to $2,194 psf, which is relatively higher than the $2,022 psf price of another unit sold at The Oceanfront last month.
\nThe latest listing follows an increased interest in Sentosa Cove homes as prices have gradually moved closer to that of mass market condos.
\nWith several homes there sold at massive losses, Sentosa Cove has become the most visible marker of the property market slump.
\nSentosa Cove homes have gone from $2,600 to $2,800 psf between 2007 and 2009 to $1,500 to $1,700 psf at present, said Alex Low, group division director at PropNex.
\nBut while Low believes that the luxury condo market is picking up again, International Property Advisor CEO Ku Swee Yong said it remains to be seen if Sentosa Cove would gain traction.
\n\u00a0
\nRomesh Navaratnarajah, Singapore 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…Kong Hee\u2019s Sentosa home relisted for .5m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There has been an increased interest in Sentosa Cove homes as prices have gradually moved...<\/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-66046","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-hbg","jetpack-related-posts":[{"id":96591,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-bungalow-snapped-up-for-33-3mil\/","url_meta":{"origin":66046,"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":120009,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/growing-demand-for-sentosa-cove-bungalows\/","url_meta":{"origin":66046,"position":1},"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":78537,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-property-market-stabilising\/","url_meta":{"origin":66046,"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":121723,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-sales-in-sentosa-cove-reach-new-record\/","url_meta":{"origin":66046,"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":81488,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-penthouse-sold-at-2-4-million-loss\/","url_meta":{"origin":66046,"position":4},"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":59052,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-of-sentosa-cove-homes-rebound\/","url_meta":{"origin":66046,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/66046"}],"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=66046"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/66046\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=66046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=66046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=66046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}