Your search results

Snag a Sentosa Condo for 40% Off? Should You Consider It!

Posted by Jayson Ang on May 23, 2024

| 0

TLDR

The Residences at W Singapore Sentosa Cove has slashed prices by over 40%, but there are important details to consider. The property has a 99-year lease since 2006 with slow sales and recorded losses. Maintenance fees are high, starting from $1,200 per month. The floor price may impact future buyers. While the condo offers prestige and lifestyle perks, high maintenance fees can affect rental yields. Sentosa Cove may not be suitable for everyone due to limited resale market and transportation challenges. The elite may find it appealing, but compromises are necessary. Real estate trends show a shift towards preferring locations with HDB blocks for amenities, marking a new era in property buying preferences. It’s important to assess your unique situation before deciding to buy or sell property. Strategic real estate advice and connecting with the right buyers can guide you through your property journey.

You may have heard the news: The Residences at W Singapore Sentosa Cove have announced a jaw-dropping price slash of over 40 per cent. However, before you jump on the bandwagon of excitement, there are a few important details that seem to have been left out of certain media reports:

Firstly, let’s not forget that the 99-year lease for this property started back in 2006, with completion only occurring in 2011. That’s a whopping five years on the market and still, only 228 units have been sold. Talk about a slow burn.

And if that’s not enough to make you think twice, take a look at the one recorded transaction on 7th September 2023, which shows a devastating loss of $1.46 million. Ouch.

But wait, there’s more. The maintenance fees for a modest two-bedder unit are a staggering $1,200+ per month. And for the larger units, be prepared to fork out anywhere from $1,400 to $1,600+ per month. That’s a pretty hefty price tag just to keep the lights on.

But perhaps the most crucial detail to keep in mind is the floor price. If a large number of units are being sold at a 40 per cent discount, then that becomes the new benchmark for future buyers. Suddenly, the discount off the original price may not seem like such a steal after all. Don’t be fooled by the numbers, my friends. Always consider the bigger picture.

Is it fair to say that this particular Sentosa Cove condo lacks the appeal it once held? Not exactly. Like its counterparts, it exudes prestige and offers unrivaled lifestyle perks. However, some individuals may be lured by its seemingly low price. With units starting at $1,648, it may seem like a steal compared to the skyrocketing prices at Lentor. But beware, for the high maintenance fees greatly diminish the potential rental yields. And let’s not forget the limited target market for resale. While Sentosa may be a paradise for beach enthusiasts, families and typical Singaporeans may find it a challenging place to settle. Besides, owning a car is a must, and commuting may not be as convenient as you think. This type of investment is best suited for the elite who can afford to overlook gains and yields. Only those with a longstanding desire to reside in Sentosa and are willing to make compromises should consider this attractive deal.

When discussing real estate – not just in Singapore but in any market – the relationship between affluence and impracticality becomes evident. In fact, this correlation seems to exist regardless of location. Once you’ve indulged in the luxurious delicacy of Bird’s Nest, a peculiar aversion to the common folk begins to take hold: suddenly, you’re convinced that every drug lord in the world has their sights set on you and you must retreat to the most secluded and inconvenient location possible. A place where your opulent abode is hidden behind impenetrable hedgerows, rendering food delivery services useless, or where the mere thought of a $32 Grab ride is enough to deter any visitors.

However, this trend has led to a dangerous game of copycat among the elite: the wealthy flock to areas devoid of HDB flats, leading some of us to believe that any location without these public housing units must exude sophistication. A lack of towering buildings becomes synonymous with $600 dinners and overpriced timepieces.

Gone are the days when property agents would boast about the absence of HDB blocks in their listings. The era of selling based on “there are no HDB blocks in sight” has long passed, buried in the annals of time. Nowadays, the response to the new Bayshore estate has been overwhelmingly positive. The residents, once skeptical, now eagerly welcome the prospect of having more amenities within their grasp. How times have changed from the early 2010s, where the mere mention of an HDB enclave would elicit shock and horror from potential buyers.

But things have taken a sharp turn. In recent discussions, buyers have been actively seeking out HDB enclaves within walking distance. It seems we have finally accepted the undeniable truth that HDB equates to a plethora of good amenities. The night owls can rejoice in the abundance of late-night supper joints, the caffeine addicts can have their pick of coffee shops, and even the cravings for a quick burger fix can be satisfied with a nearby McDonald’s. The tide has turned, and we are fast approaching a time where nearby blocks of flats are seen as a major selling point for potential buyers. Truly, we have reached a new era in the world of property.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

Buying Tips Mandarin Top 5

5 Things to Know About Singapore’s Freehold & Leasehold Properties

Jayson Ang – June 10, 2023 –

5 Things to Know About Singapore's Freehold & Leasehold Properties Here are 5 things you need to know about Singapore's...

Mandarin Top 5

Top 5 Best Non-Touristy Things to Do in Singapore

Jayson Ang – October 31, 2024 –

Singapore, a vibrant city-state known for its iconic skyline and diverse culture, offers a plethora of experiences for both tourists...

All Buying Tips

How to Avoid Forfeiting Your Security Deposit: A Guide to Your Rental Property

Jayson Ang – July 30, 2023 –

TLDR When bidding farewell to your rented property, ensure the safe return of your security deposit by: Regular Aircon Servicing:...

Mandarin Top 5

Top 5 Reasons : Why is Supply so tight for Singapore Property?

Jayson Ang – January 22, 2025 –

Singapore's property market has been experiencing a tight supply in recent years, leading to increased demand and rising property prices....

All Buying Tips

5 Exciting Trends Shaping Singapore’s Property Market for Future Buyers After 2024

Jayson Ang – July 5, 2024 –

TLDR When it comes to the evolving landscape of property development in Singapore, developers are facing new challenges and opportunities....

All Buying Tips

Essential Steps for Safely Purchasing Your First Home in Singapore

Jayson Ang – February 20, 2024 –

TLDR When considering buying your first property in Singapore, start by assessing your budget and qualifying for a permissible loan....

All Blog Posts Buying Tips

Learn the Essentials of Renting Property in Singapore as a Foreigner

Jayson Ang – May 26, 2023 –

TLDR Renting in Singapore offers various options for foreigners, such as HDBs, Condos, and even unique properties like heritage homes....

Mandarin Top 5

Top 5 Vegetarian Restaurants in Singapore

Jayson Ang – March 14, 2024 –

Singapore, a melting pot of cultures and cuisines, offers a diverse range of dining options for food enthusiasts. For vegetarians,...

All Blog Posts Buying Tips

Resale Viewing Do’s and Don’ts: Expert Advice from a Singapore Real Estate Agent

Jayson Ang – December 19, 2022 –

TLDR The blog post provides valuable insights for first-time buyers on navigating the resale property market in Singapore. It covers...

Mandarin Top 5

Top 5 : Why Ultra-Rich Foreigners Will Still Buy Property In Singapore

Jayson Ang – March 1, 2025 –

Singapore, a small island nation in Southeast Asia, has been steadily gaining recognition as a hotspot for the ultra-wealthy to...

Mandarin Top 5

Top 5 Art Galleries in Singapore for Contemporary Art

Jayson Ang – May 24, 2024 –

Singapore, known for its modern architecture and vibrant culture, has a thriving art scene that showcases the best of contemporary...

Mandarin Top 5

Top 5 Tips : How to Choose the Right Type of Property to Invest in Singapore – Expert Tips and Analysis!

Jayson Ang – September 24, 2024 –

Investing in property has long been a popular method for growing wealth in Singapore. With million-dollar HDBs being sold and...

All Blog Posts Buying Tips

5 Disastrous Property Transaction Nightmares (and How to Avoid Them)!

Jayson Ang – April 20, 2023 –

TLDR When attempting to sell your property, various worst-case scenarios can hinder the sale process significantly. These scenarios include buyers...

All Blog Posts Opinion

Discover 7 Reasons to Sell and Right-Size Your Property

Jayson Ang – April 9, 2023 –

TLDR The increasing trend of right-sizing properties in Singapore is driven by various factors such as lifestyle changes, financial gains,...

Mandarin Top 5

Top 5 : Advantages of Owning a Luxury Condominium in Singapore for Long-Term Investment

Jayson Ang – February 23, 2025 –

Singapore, a thriving global city-state, has become an attractive destination for real estate investors. Among the various property types available,...