07 Aug 2024
Sentosa Property Market Review & Outlook for 1H2024: Insights & Trends
Property Insight

Surge in Property Transactions

The Sentosa property market experienced a notable surge in transactions during the first half of 2024. There were 101 recorded transactions, a 74.1% increase from the 58 transactions in the same period in 2023. This growth was significantly driven by the relaunch of The Residences At W Singapore Sentosa in April, offering attractive price points and spiking interest particularly in the Sentosa Cove area, part of the Core Central Region (CCR). This area is known for its exclusive, prestigious properties that represent a high-end lifestyle and sound investment opportunities.

Price Moderation and Market Health

The median unit prices of condominiums in Sentosa saw a slight moderation in the second quarter of 2024, adjusting from $1,999 psf in Q1 2024 to $1,801 psf in Q2 2024. This adjustment indicates a balanced market and provides potential buyers with more attractive entry points. Sentosa remains a sought-after destination due to its luxurious lifestyle and prestigious properties, making it an appealing investment opportunity even amidst price moderation.

Noteworthy Transactions

Several high-value transactions were recorded in the first half of 2024, underscoring the dynamic nature of Sentosa’s property market:

• The highest transacted property was a detached house on Ocean Drive sold for $16 million ($1,844 psf) in February, yielding a 19.6% profit gain from its purchase price in 2018.

• The Oceanfront @ Sentosa Cove, a 99-year leasehold condominium, saw a transaction at $8.1 million ($1,665 psf), generating a 26.6% profit.

• The revitalized interest in The Residences At W Singapore Sentosa Cove resulted in three separate transactions at $6.1 million each for units on the sixth floor.

These transactions highlight the potential for positive returns on investment and the ongoing demand for high-end properties in Sentosa.

Outlook

Sentosa's property market offers a compelling proposition for both investors and luxury home seekers. Properties in Sentosa are not merely homes but prestigious assets that promise significant returns. The demand for high-quality residences ensures their continued value and appeal to discerning buyers. Sentosa offers a blend of serene coastal living and urban amenities, making it an ideal location for an opulent lifestyle. The immediate occupancy options, as seen with The Residences At W Singapore Sentosa Cove, are particularly attractive to buyers wishing to enjoy their investment benefits without delay.

The Green Collection

A noteworthy addition to Sentosa Cove is The Green Collection, a prestigious residential development located near the Tanjong Golf Course. Key features include:

• Luxury amenities such as gated seclusion, individual rooftop pools, a world-class gym, and an ultra-stylish function room.

• Unobstructed views of the Tanjong Golf Course, one of Sentosa Golf Club's international championship courses.

• Unique design elements like air wells, double-volume height windows, and spacious layouts.

• Architectural excellence with designs by renowned architect Rene Tan, landscape architecture by Shunmyo Masuno, and interior design by Kelly Hoppen.

The Green Collection epitomizes refined luxury, offering a unique living experience that combines sophistication, privacy, and breathtaking natural surroundings.

Conclusion

The first half of 2024 has been a dynamic period for the Sentosa property market, marked by significant growth in transactions and stable median prices. High-profile transactions and the introduction of prestigious developments like The Green Collection affirm Sentosa's status as a premier destination for luxury real estate. 

Click here for the full report   

Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics  

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The top bid of $1.50 billion was submitted by Horizon Residential Pte. Ltd. under UOL together with Horizon Commercial Trustee Pte. Ltd. under CapitaLand, translating to $1,179 psf ppr. This offer narrowly edged out the second highest bid by just 2.1 percent, highlighting strong conviction and disciplined pricing among the top contenders. The close spread between bids indicates that developers share a broadly aligned view on the underlying value of this site, particularly given its scale, commercial component, and transport integration.

The relatively limited number of bidders should be viewed in the context of the project’s size and complexity. Large integrated developments require strong balance sheets, operational expertise, and long term capital commitment. As such, participation tends to be concentrated among developers with proven mixed use experience. The high absolute bid values suggest that participating developers are taking a long term view of Hougang Central’s role as a town centre anchor that can support both residential demand and sustained retail activity over time.

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Looking ahead, broader infrastructure and planning initiatives under the Master Plan 2025 further reinforce the site’s appeal. Improved connectivity from the Cross Island Line, planned upgrades to Hougang Sport Centre, proximity to schools and healthcare facilities, and access to recreational spaces collectively enhance liveability and long term value. 

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Private new home sales in November 2025 moderated from the exceptionally strong performance seen in October, largely due to the absence of major new launches rather than a deterioration in underlying demand. Developer sales excluding executive condominiums reached 325 units, easing from 2,424 units in October. This moderation followed a sharp contrast in launch volumes, as October benefited from the release of 2,233 units, while November saw only 347 units launched, all of which came exclusively from a single project, The Sen.

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Demand fundamentals remain resilient as household formation stays steady and policy enhancements support right sizing among seniors. Findings from HDB’s latest Sample Household Survey also show more young families living near parents, boosting demand in established towns. Taken together, 2026 is expected to be a year of healthier balance, steady performance, and moderated price growth anchored by a significantly larger supply pipeline and stable demographic needs.

Click

here

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Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg