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Sentosa Cove Landed Property Sale – Rent a Room, Property HDB Apartment Condo Landed Property for Buy, Sale, Invest

| Property Sales and Rental Articles | March 15, 2015

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Huge profit for Sentosa Cove 99 years leased hold bungalows? Profits can go as high as $7 million dollars even in this buyer’s property market. The recent transaction being sold at $22 million (Sold for $2,374 psf on 17 February 2015 last month). The two-storey bungalow at the posh enclave’s Treasure Island comes with seven bedrooms and a jetty. The seller a fruit and vegetable mogul who is Founder and Director of Seasonal Produce, Mr Lim and his wife Yap Seok Bee originally purchased the home for $14.95 million ($1,613 psf) in April 2010.

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Most investors of Sentosa Cove are not short term flippers but long term international investors eyeing the long term growth of Singapore and its surrounding countries. Although a huge profit for the fruit mogul, but comparing the property sales transaction in 2013, the deals being transacted had since dropped from approximately 18 deals to 4 transacted in 2014. A drastic drop in Sentosa Cove property transactions.

Sentosa Cove, where this is the only place in Singapore where foreigners are allowed to purchase landed properties even if they are not permanent residents. Will always be a place where the international million and billionaires invest their funds.

Downside of Sentosa Cove properties:-
After the introduction of the cooling measures and also lending restrictions on foreigners, prices in Sentosa Cove had drop around 20 percent.

With the removal of the Financial Investor Scheme (FIS) in 2012. Further reduced the numbers of rich international investors in Singapore. This scheme allowed foreigners with a global net worth of $20 million to become permanent residents if they parked $5 million in Singapore, $2 million of which could be put into property. With the removal of this tool, private investment bankers had lose out on many lucrative international deals to other countries like Australia which welcome such wealthy million/billionaires to their shores. As such, further reducing the number of wealthy property buyers/investors in Sentosa Cove.

With the recovery of the US market, more funds are being transferred back to the America. And thus part of the reason for the rise in bank interest rates. Many property investors/buyers are therefore stuck with their property with a high monthly payment which they are not able to cover with their monthly rental yield due to the cooling measures which are enforced to protect the further raise of properties in Singapore and to protect or stop more adhoc or part time properties investors from going into the market and burning themselves in the long run and causing a burst in the property market in Singapore. The cooling measures therefore is a must to halt any further harm to other investors especially newbie investors.

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