Ultra-luxurious homes of Sentosa Cove

Home to well-known people like celebrity hairstylist Addy Lee and City Harvest Church pastor Kong Hee, Sentosa Cove is a quiet and serene enclave, exuding luxury and exclusivity. Residences at Sentosa Cove are the only ones in Singapore where owners can berth their yachts in their own backyard.

Sentosa Cove at a glance

Total land area 117 ha (equivalent to 145 football fields)

Leasehold: 99 years

Number of homes

By 2014, 2,160 homes, comprising a mix of ocean-front villas, waterway bungalows, hillside mansions, terraces and condominiums, are expected to be completed.

The North Cove has been fully developed. In the South Cove, another 34 landed units are expected to be built.

In addition, two new condominiums – Seven Palms and The Pinnacle – are under construction and slated for completion in two years.

Number of residents: About 4,500.

Profile of homebuyers

From January last year to the present – 48 per cent are Singaporeans or permanent residents, down from 64.1 per cent, who bought between 2005 and 2007.

– 48 per cent are foreigners, up from 25.3 per cent from 2005 to 2007.

– 3.9 per cent are companies, down from 10.4 per cent from 2005 to 2007. Yacht owners

15 per cent of waterway households own yachts which are berthed in their backyards. Some residents also berth their boats at ONE°15 Marina Club.

How much per sq ft?

Landed property: $2,134.50 as of Q1 this year, up from $1,574.56 in 2009.

Non-landed property: $2,418.33 as of Q1 this year, up from $1,691.09 in 2009.

Most expensive landed property sold

What: A 16,000 sq ft detached house on Cove Drive. It is said to have five bedrooms and an entertainment room.

When: February

How much: $39 million .

Who: Previously owned by Citi Private Bank chairman Deepak Sharma and his surgeon wife, Dr Susan Lim. It was sold to Mr Shael Oswal, a 33-year-old Indian mining mogul.

Most expensive non-landed property ever sold

What: A unit at Turquoise Condominium

How much: Sold for $18 million

When: December 2007

In the first three months of this year, only five units changed hands. Last year, 79 units changed hands, down from 203 units in 2010 and 169 units in 2009.

Source : Stomp – 2012 Jul 7

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