The Straits Times
www.straitstimes.com
Published on Oct 30, 2012
 

Record $3,214 psf for Sentosa Cove bungalow: Reports

 
 

A Sentosa Cove bungalow has been sold for $32.5 million - a record price in terms of square footage, according to reports. The price of the Ocean Drive home worked out to $3,214 psf on a land area of 10,111 sq ft.

The previous record was set in 2010 for a $28.2 million property a few doors away that fetched $2,989 psf on a land area of 9,436 sq ft, said The Business Times.

Homes in Sentosa Cove, which is the only area where foreigners can buy landed property, have a 99-year leasehold tenure. The landed segment recorded bullish prices in the third quarter.

While overall residential prices rose 0.6 per cent, those for landed property gained 1.1 per cent, Urban Redevelopment Authority (URA) data showed yesterday.