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  

You may also like

Property Insight
25 Apr 2025
HDB Resale Prices and Transactions Show Steady Pace in 1Q2025

In 1Q2025, HDB resale prices increased moderately by 1.6%, compared to 2.6% in the previous quarter, reflecting a gradual recalibration driven by expanding housing supply and affordability measures. Transactions rose slightly, with 6,590 flats changing hands, marking a 2.6% increase quarter-on-quarter.

This slower resale market performance was partially attributed to seasonal effects like Chinese New Year festivities, which typically dampen resale activity. Concurrently, HDB significantly expanded housing supply, launching 10,622 flats through Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises. The SBF exercise, notably the largest since November 2020, offered 5,220 balance flats, with approximately 40% move-in ready, attracting buyers seeking immediate occupancy.

Older flats with lease commencement dates of 1990 or earlier represented 39.4% of resale transactions, up slightly from 38.6% in 4Q2024. Buyers continued gravitating towards these mature flats, driven by larger sizes, established locations, and affordability. Newer flats from 2013 onwards accounted for 29.6% of transactions, remaining stable compared to the previous quarter.

The government’s ongoing investment through initiatives such as the Neighbourhood Renewal Programme (NRP), Home Improvement Programme (HIP), and Lift Upgrading Programme (LUP) significantly enhanced older flats' liveability. These programmes, improving interiors, common areas, and accessibility, ensure older flats remain attractive despite shorter leases.

Looking ahead to 2025, HDB resale market demand is expected to remain resilient, driven by couples, families, and unsuccessful BTO applicants needing immediate housing solutions. Interest will likely concentrate in well-located estates offering proximity to key amenities and transport nodes.

To manage demand-side pressures, the government is proactively increasing housing supply. In July 2025, approximately 5,400 BTO flats will launch across several estates, accompanied by a concurrent SBF exercise offering about 3,000 flats, totalling 8,500 units for 2025. This diverse supply caters to varied buyer profiles and needs.

Overall, the HDB resale market in 2025 is set for sustainable balance, ensuring price stability and supporting long-term affordability amid expanding public housing options.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email:

mohan@sri.com.sg

 

Property Insight
25 Apr 2025
Healthy Demand Sustains Private Property Market Growth in 1Q2025

The private resale market remained firm in 1Q2025, recording 3,565 transactions, a slight 3.7% moderation quarter-on-quarter but marking a significant 32.6% increase year-on-year, the strongest first-quarter performance since 2022. This growth demonstrates resilient demand, particularly for move-in ready homes amid limited new supply.

Treasure at Tampines was the best-performing non-landed resale condominium, with 47 transactions in 1Q2025. The project's strong performance may have benefited from spillover demand driven by nearby launches such as Parktown Residence. Resale units in large-scale developments like Treasure at Tampines remain attractive due to their established amenities and competitive pricing compared to new launches.

New home sales in 1Q2025 totalled 3,375 units, a slight 1.3% dip from 4Q2024 but nearly tripling year-on-year from 1,164 units in 1Q2024. This represents the strongest first-quarter new launch performance since 2021, reflecting improving buyer sentiment and robust market confidence. Developers responded by launching 3,139 units during the quarter, signalling confidence in continued demand recovery. The measured absorption rate aligns with market fundamentals, supported by government land sales (GLS) rather than collective sales, indicating a steady and sustainable flow of supply.

The private property price index edged up 0.8% in 1Q2025, moderating from 2.3% growth in 4Q2024. The modest yet consistent price increase indicates healthy market fundamentals, driven by steady demand and new project launches, particularly from GLS sites. 

The positive sales momentum in 1Q2025 reflects resilient buyer demand, strategically timed launches, and a supportive macroeconomic backdrop, particularly in the Outside Central Region (OCR) and Rest of Central Region (RCR), which balance affordability and growth potential.

Amid ongoing geopolitical trade tensions, Singapore’s real estate market remains attractive to global investors as a safe haven, supported by political stability, transparency, and strong economic fundamentals. Market resilience is further reinforced by regulatory safeguards such as the Seller’s Stamp Duty (SSD), Total Debt Servicing Ratio (TDSR), Loan-to-Value (LTV) limits, and a high Additional Buyer’s Stamp Duty (ABSD) rate of 60% for foreigners, effectively curbing speculation.

Historically, Singapore’s real estate resilience has been policy-driven. Government intervention through financial relief measures during past crises, coupled with strategic trade deals and a transparent legal framework, underpins the market’s stability and adaptability even in uncertain global conditions.

However, prudence is advised for buyers amid evolving economic conditions and interest rates. Long-term affordability and financial sustainability remain essential considerations for property investments in the coming months.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email:

mohan@sri.com.sg

  

Property Insight
16 Apr 2025
Resilient Buyer Demand Supports March 2025 Developer Sales

In March 2025, developers sold 729 private residential units (excluding Executive Condominiums), reflecting a moderation from the 1,597 units moved in February. The lower sales volume can be attributed to fewer project launches and the March school holidays, which temporarily slowed buying momentum. Nonetheless, on a year-on-year basis, sales remained stable—up 1.5% from 718 units in March 2024.

A key highlight of the month was the overwhelming success of Aurelle of Tampines, the year’s first EC launch. It sold 705 units at a median price of $1,769 psf, making it the top-selling project across all categories. Located in a mature estate with excellent connectivity and established amenities, Aurelle attracted strong interest from first-time buyers and young families. The project was fully sold out by April, highlighting pent-up demand for affordably priced ECs in well-connected neighbourhoods.

In the private residential segment, Lentor Central Residences led the way, transacting 460 units at a median price of $2,213 psf. Its success underlines the growing appeal of the Lentor precinct within the Outside Central Region (OCR), driven by the area’s proximity to Lentor MRT, increasing launch activity, and integration with nearby amenities. The cumulative effect of several launches in this enclave is transforming Lentor into a vibrant residential node.

Sales in the Core Central Region (CCR) rebounded in March, with 46 new units sold—up from 28 in February. This was primarily driven by the launch of Aurea, which moved 24 units at a median price of $2,924 psf. The project’s success demonstrates sustained demand for luxury homes in prime locations, even amid cautious market sentiment.

One Marina Gardens also garnered positive investor interest, especially for its one- and two-bedroom units. Positioned as the inaugural development in the upcoming Marina South precinct, the project offers early movers a front-row seat to the district’s transformation into a dynamic waterfront community. Looking ahead, two additional plots in Marina South have been listed on the 1H2025 GLS Reserve List, indicating continued government commitment to shaping this precinct into a mixed-use lifestyle hub.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email:

mohan@sri.com.sg