27 Jun '17, 4am

Sales of Sentosa Cove homes rebound

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 worth S$102.7 million compared to four in 2016 with a combined value of $64.5 million, statistics from CBRE revealed. While Sentosa Cove is the only place in the city-state where foreigners who are not permanent residents are allowed to purchase landed houses, six of the seven bungalow transactions year-to-date involved Singaporeans. According to CBRE Realty Associates’ Vice President for resale Steve Tay, bungalows there have piqued the interest of locals and permanent residents after prices have started declining since mid-2015. “One of the main reasons for the return in interest is that t...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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