Original Article from 99.co.
Earlier this year, Cape Royale, a Sentosa Cove condominium, made headlines for launching for sale nine years after it was completed.
When the 302-unit luxury condo launched on 6 July, developers Ho Bee Land and IOI Properties sold about half of the 50 units they put up for sale (according to reports by Forbes and The Business Times).
3-bedroom units had a median price of S$4 million, while 4-bedroom units had a median price of S$5.5 million. The psf price started at S$2,103.
Interestingly, this comes months after a spike in sale transactions of properties in Sentosa was reported in 2021. That’s after years of declining prices and sales.
With Cape Royale’s latest launch, could it be that the property market in Sentosa is making a comeback? We look at Sentosa’s property landscape over the years and how it’s faring today.
Impact of 2013 cooling measures
Cape Royale TOP-ed in 2013 but its developers didn’t put it up for sale due to several cooling measures that year. Instead, the property was rented out.