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 …

Mandarin Top 5

Maximize Your Property Investment: 5 Questions to Ask Your Real Estate Agent in Singapore

Jayson Ang – March 23, 2024 –

Buying a property in Singapore can be a daunting task, especially for first-time buyers. It is important to have a...

All Blog Posts Opinion

What Has Been The Most Significant Development In The Real Estate Market In 2022

Jayson Ang – December 24, 2022 –

TLDR In 2022, the real estate market saw significant interest rate hikes affecting home loan rates. Despite concerns, the market...

All Blog Posts Buying Tips

What is a Tenancy Agreement (TA)

Jayson Ang – July 21, 2023 –

TLDR When it comes to understanding property jargon, it's crucial to familiarize yourself with the specifics of a Tenancy Agreement...

Mandarin Top 5

Navigating Singapore’s Real Estate Market: The Truth Behind 5 Common Misconceptions

Jayson Ang – March 19, 2024 –

The real estate market in Singapore is known for its stability and attractiveness to investors both locally and internationally. However,...

All Buying Tips

Want To Buy A Property? Read Me First!

Jayson Ang – December 7, 2022 –

TLDR Understanding the key factors involved in buying property in Singapore is crucial for making informed decisions. Consider your investment...

All Blog Posts Buying Tips Opinion

Methods to Beat ABSD and Own Multiple Properties in 2024 (Updated)

Jayson Ang – November 19, 2024 –

TLDR Navigating the Additional Buyers Stamp Duty (ABSD) in Singapore can be daunting for property investors. To save on ABSD...

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 Opinion

Unseen Dangers of Putting Your Money in Upscale Freehold Properties in Singapore

Jayson Ang – February 17, 2024 –

TLDR Luxury freehold properties in Singapore may not always be the lucrative investment opportunities they appear to be. High-end properties...

Mandarin Top 5

From Overseas to Singapore Property: 5 Steps Guide to Remitting Funds

Jayson Ang – May 21, 2023 –

From Overseas to Singapore Property: 5 Steps Guide to Remitting Funds 1. The first step in remitting money to Singapore...

All Blog Posts Opinion Selling Tips

Unveiling 4 Scenarios of CPF Accrued Interest Impact on Property Owners

Jayson Ang – December 11, 2024 –

TLDR When selling your first home, be aware of CPF accrued interest, which is the interest that would have accumulated...

Mandarin Top 5

Top 5 : Dangerous Ideas Singapore Property Investors Have

Jayson Ang – February 19, 2025 –

Investing in property, particularly in a thriving market like Singapore, can be an enticing prospect. However, it's not without its...

Mandarin Top 5

5 Resources That Can Help You Find Your Dream Home In Singapore

Jayson Ang – March 12, 2024 –

It's 五新房产, Finding your dream home can be a daunting task, but with the right resources, it can be a...

All Buying Tips

What Are The Key Factors That Contribute To Property Valuations And Why Are They So Crucial?

Jayson Ang – October 23, 2023 –

TLDR Understanding property valuations is crucial for both buyers and sellers in the real estate market. Property valuations involve two...

Mandarin Top 5

Top 5 Factors : Why Not All Properties Appreciate Steadily

Jayson Ang – January 20, 2025 –

Real estate has long been considered a lucrative investment option, with the potential for significant returns. However, not all properties...

All Buying Tips Selling Tips

Should You Purchase a Small Landed Home or a Larger Condo? Insights from Singaporeans

Jayson Ang – August 5, 2024 –

TLDR When deciding between a compact landed house and a spacious condominium, consider key factors like security, parking, maintenance costs,...

All Buying Tips Opinion Selling Tips

The Importance of Caution Regarding Property Oversupply in Singapore

Jayson Ang – March 10, 2025 –

TLDR Recent challenges in China's real estate sector reveal valuable lessons for Singaporeans, emphasizing the importance of understanding governmental interventions...

All Blog Posts Buying Tips

An Essential Guide to Buying a Home in Singapore 2023

Jayson Ang – January 17, 2023 –

TLDR When navigating the complexities of purchasing a property in Singapore, ensure you meet eligibility criteria, consider affordability factors, and...