With prices so low, time to buy a home on Sentosa?

Prices for non-landed homes on the island have tumbled almost 40% since the peak around 2010, but locals still prefer freehold property in prime districts on the mainland

An aerial view of Seascape condo at Sentosa Cove. Projects like Turquoise and Seascape, which were sold in 2007 and 2010 at much higher prices, saw more losses when those units changed hands after cooling measures kicked in.
An aerial view of Seascape condo at Sentosa Cove. Projects like Turquoise and Seascape, which were sold in 2007 and 2010 at much higher prices, saw more losses when those units changed hands after cooling measures kicked in. ST FILE PHOTO
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There were also homes sold in mortgagee sales after owners defaulted on bank loans following the economic uncertainties such as the ongoing United States-China trade war.

Projects like Turquoise and Seascape, which were sold in 2007 and 2010 at much higher prices hovering around $2,600 psf, inevitably saw more losses when those units changed hands after cooling measures were introduced.

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A version of this article appeared in the print edition of The Sunday Times on November 08, 2020, with the headline With prices so low, time to buy a home on Sentosa?. Subscribe