Category Archives: Sentosa Property

Rich, famous living it up in Sentosa Cove

The appeal of a Sentosa Cove home lies in its exclusivity and the lifestyle it offers, according to a report by AsiaOne.

Among famous personalities drawn to its appeal is Addy Lee, celebrity hair stylist and CEO of Monsoon Hair Group, who owns a three-room apartment in the enclave.

Interestingly, his neighbour at The Oceanfront condominium is controversial City Harvest Church pastor kong hee, who’s accused of misappropriating church funds. Along with four other senior church members, he faces three or more charges for allegedly using the funds to finance his wife’s music career.

According to Lee, he’s never crossed paths with the pastor, although he has known his wife for over 10 years.

Meanwhile, Sentosa Cove is known for its serenity, luxury and exclusivity. It is the only neighbourhood in Singapore where residents can berth their yachts next to their backyard.

“The moment I open my window, I can see the sea, and it makes me very happy.. I’ve recently discovered the amazing sunsets I get,” said Lee.

“I feel very safe and peaceful living here. It gives me a lot of ideas for my work and businesses.”

One of the most talked about properties in Sentosa Cove is the Fish House, home to Australian-born Stephen Fisher. The two-storey property was recently named one of the most relaxing homes in the world by tech site Gizmodo.

Fischer, a hedge fund manager at First Degree Global Asset Management, bought the 7,800 sq ft land site for S$3.5 million in 2005. He then spent S$2.4 million to build a 5,800 sq ft house.

While Fischer was unaware of the recent recognition, he also wasn’t surprised. “The home was built for living in, not a showcase.”

“Water plays a big part in the design and we swim every day. We all laughed when we read the Gizmodo rating.”

“Where else can you live in a resort yet be 10 minutes from the CBD (central business district)? There are times when we don’t leave the island for days,” he added.

Designed by Singapore-based firm Guz Architects, the eco-friendly home is no stranger to the limelight. In 2010, it was recognised at the Architectural Design Awards organised by the Singapore Institute of Architects.

Commenting on Sentosa Cove’s exclusivity, Eugene Lim, Key Executive Officer at ERA, said: “A Sentosa home is a status symbol. It’s sort of a must-have if you are one of the who’s who.”

Source : CNA – 2012 Jul 3

Big-ticket bungalow deals reasonably priced

20120626-133242.jpg

Some big-ticket bungalow deals took place recently on Sentosa Cove (pictured) and the Good Class Bungalow (GCB) areas of mainland Singapore.

One Singaporean bought a two-storey freehold bungalow with five bedrooms and a study at White House Park for S$24.8 million or around S$1,650 psf. RealStar Premier represented the buyer while the seller was represented by DTZ.

At Jervois Hill, a 15,095 sq ft property was sold for S$21 million by Newsman Realty. It was bought in 2010 for S$19 million from Vincent Tan Kim Yong, Group Chairman and CEO of Advanced Integrated Manufacturing Corp.

Over in Sentosa Cove, a 99-year leasehold property was sold for S$22.2 million or around S$2,787 psf.

Samuel Eyo, Director of Prestige Homes at Savills Singapore, said that end-users have dominated the GCB market and transacted prices are reasonable.

KH Tan, Managing Director of Newsman Realty, noted that the GCB market picked up in the first half of this year from a slowdown after the additional buyer’s stamp duty (ABSD) was implemented in December last year.

“I would say prices are quite stable these days.”

He added that transactions at Sentosa Cove saw a notable decline due to the 10 percent ABSD for foreigners who are not permanent residents (PRs).

Sentosa Cove is the only place in Singapore where landed homes can be bought by non-PR foreigners subject to approval by the Land Dealings (Approval) Unit.

Source : PropertyGuru – 2012 Jun 26