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Sentosa Cove bungalow buying revs up

Year to date, at least 10 villas in the waterfront housing district have been transacted, up from six transactions last year, say agents

Kalpana Rashiwala

Published Thu, Sep 24, 2020 · 09:50 PM

Singapore property

Singapore

ACTIVITY in the bungalow market on Sentosa Cove has revved up in the past few months on the back of several demand drivers, including buyers from mainland China.

Year to date, at least 10 villas in the waterfront housing district have been transacted - including deals for which buyers have not lodged caveats. This is up from six transactions last year, according to agents.

At least another two deals are currently pending, subject to approval from the Land Dealings (Approval) Unit of the Singapore Land Authority.

Sentosa Cove is the only place in Singapore where a foreigner who is not a Singapore permanent resident may seek approval to buy a landed home for their own use.

List Sotheby's International Realty (ListSIR) senior associate vice-president Steve Tay forecasts that 2020 could end with at least 15 deals, given the current level of viewing activity by potential buyers looking for a home for owner occupation. "These comprise a good mix of nationalities, not only buyers from China but also Indonesia, Malaysia, India …