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Why are buyers flocking to Singapore’s luxe island resort Sentosa Cove? As WFH continues to be the new normal, many are choosing to do so in style

STORYEdgeProp
Bungalows with private berths along the waterway are typical of the sorts of property available in Sentosa Cove, Singapore, often at lower prices than comparable property on the mainland. Photo: EdgeProp Singapore
Bungalows with private berths along the waterway are typical of the sorts of property available in Sentosa Cove, Singapore, often at lower prices than comparable property on the mainland. Photo: EdgeProp Singapore
Property investment

  • Steve Tay of List Sotheby’s International Realty says Singapore permanent residents are ‘attracted to the resort lifestyle’
  • More American high-net-worth individuals are checking out Sentosa Cove villas since the second half of 2020 too

Buying activity in Singapore’s Sentosa Cove has picked up, especially in the second half of last year, after the city’s “circuit breaker”, according to Steve Tay, senior associate vice-president of List Sotheby’s International Realty.

“I see more local Singaporeans viewing properties for investment potential and also for their own occupation,” he observes. “At the same time, there has been an increase in permanent residents (PRs) looking to buy for own occupation as well.”

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Bungalows on Coral Island and Paradise Island with private berths along the waterway. Photo: EdgeProp Singapore
Bungalows on Coral Island and Paradise Island with private berths along the waterway. Photo: EdgeProp Singapore

Most of the PRs looking to purchase for their own use are currently living in condominiums in the city, adds Tay. “They are attracted to the resort lifestyle of Sentosa Cove, as well as the prospect of owning a bungalow with more living space for the whole family, especially as more are choosing to work from home amid the pandemic.”

The nationalities of the PRs are also more varied, notes Tay. “I have encountered Indonesians, Indians, Chinese, an Italian family, as well as other Europeans and Americans.”

Steve Tay, senior associate vice-president of List Sotheby’s International Realty says that most PRs are attracted to the resort lifestyle of Sentosa Cove, as well as the prospect of having more living space, especially as more are choosing to work from home. Photo: EdgeProp Singapore
Steve Tay, senior associate vice-president of List Sotheby’s International Realty says that most PRs are attracted to the resort lifestyle of Sentosa Cove, as well as the prospect of having more living space, especially as more are choosing to work from home. Photo: EdgeProp Singapore

Most foreigners who are viewing properties in Sentosa Cove have already been in Singapore since early 2020, before the pandemic, he adds. Since the second half of 2020, Tay has noticed an increase in the number of American high-net-worth individuals viewing villas in Sentosa Cove. “Some have flown in for business reasons, and have cleared the quarantine period,” he elaborates. “They are looking at houses to base their families while attending to their business matters in Singapore.”