Sentosa Cove was conceptualized as one of the world’s most prestigious integrated oceanfront marina residential communities. This centrepiece of Singapore’s billion-dollar master plan for Sentosa island was developed in the early 2000s when Singapore was actively luring the world’s super rich to its shores, with the bait consisting out of the Singaporean status as a safe haven, good business opportunities, an attractive tax scheme and of course the exclusivity of Sentosa Island.
Urban Redevelopment Authority’s Draft Master Plan 2013, the government has envisaged more waterfront enclaves, these projects are still years in the making and are aimed at the mass market unlike Sentosa; which is and will always remain an exclusive community with a limited supply of homes.
Today, Sentosa properties are not really that much more expensive than mass-market condominiums if prices per-square-foot are considered. Therefore, it may be the right time to explore opportunities in this tranquil island enclave as it might very well offer more intrinsic value in terms of capital appreciation in the coming few years.
“Why do you want to buy Sentosa’s The Coast? Pricing can get you a much bigger unit in River Valley. Freehold some more!”
It’s a choice.
Sentosa offers a lifestyle which no where in Singapore’s main island could be comparable to. As Resorts World is in full steam ahead to get ready this year and Sentosa Cove is still an architect’s playground, having an address which is already very coveted could only mean even more prestige as time goes by.
Here’re some of the questions which potential investors or Sentosa future dwellers will ponder. We’ll decipher it here one by one.
Where exactly are these residential units?
Sentosa Cove generally is located in the East side of Sentosa and is mainly divided into two main areas, namely the North Cove and the South Cove. Both North and South Cove has a general mix of condominiums and landed plots with most homes configured to face the sea or artificial sheltered waterways.
What are the Condominium in Sentosa Cove?
Here are some of condominium in Sentosa Cove, prices really depends on the condominium on the age of the project, the finishings and the orientation.
The Azure – Frasers Centrepoint Homes
The Berth by the Cove – Ho Bee Group
The Coast – Ho Bee Group
The Oceanfront @ Sentosa Cove – City Development Limited
Seven Palms – SCGlobal
Marina Collection – Lippo Group
Turquoise – Ho Bee Group
Is that true that only a few architects can be used for construction and even additions & alteration (A&A) works for Sentosa’s landed housing?
No. But your choice of architect will have to follow the guidelines set by Sentosa Cove Pte Ltd. Your designs must first be approved by SCPL before it can be materialised.
There’s also a list of recommended architects who are familiar with SCPL’s guidelines to facilitate your home design needs.
Can foreigners buy landed properties (restricted residential property) in Singapore? Does Sentosa Cove have some lifted restrictions in landed properties?
Foreigners who wishes to buy a restricted residential properties where a written approval from the Controller of Residential Property Land Dealings is required.
1) Any landed residential properties including detached houses, semi-detached houses and terrace house
2) Any vacant land zoned for residential use
Foreign buyer can apply for a written approval from the Controller of Residential Property Land Dealings. The duly filled applications are evaluated on a case-by-case basis, and the entire process should take about three months.
The Only Exception for Sentosa Cove Homes
Foreign individual who wish to buy/ acquire a Restricted residential property in Sentosa Cove can obtain fast track approval (within 48 hours) from Singapore Land Dealing Unit.
Remember, you cannot rent out a restricted residential property and it is bought solely for your own occupancy.
Is a long term visit pass for foreigners specially catered for Sentosa Cove buyers?
Foreigners who have bought a restricted residential property (comprising of either land only or land with building) at Sentosa
Cove, Singapore for the purpose of owner-occupation will be allowed to apply for a long term social visit pass which could allow the owner (and his/her immediate family) to stay in Singapore for up to 3 years.
Is it prudent to invest in Sentosa? Why?
Land is scarce in Singapore and there’re many restrictions that hinders foreigners to buy a piece of land in Singapore.
Sentosa Cove offers a very different lifestyle compared with the main island and which only rich individuals can only afford, and with the alternative that the Singapore Government is offering to wealthy individuals to buy a restricted residential property in Sentosa Cove, the prices in Sentosa could only head north in the long run.