URA data showed 20 caveated transactions for the development to date – all in 2010 – with just five units resold from 2012 to 2023.
A Cityview spokesman told The Straits Times it is extending an offer price for these selected units as there has been increased interest and sales activity in Sentosa Cove properties in recent months. But sales of condo units in Sentosa were hit by a series of property cooling measures introduced from 2010.
Prices of condos in Sentosa Cove – aimed at the ultra-rich with its resort-living lifestyle – tumbled by about 40 per cent from 2010The Covid-19 pandemic sparked a turnaround for Sentosa Cove homes, driven by shifts in lifestyle preferences during that period, anticipation of potential movement restrictions, and working from home becoming a norm.
She attributed the continued softening of sentiment to economic uncertainties, cooling measures and ongoing money laundering investigations.
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