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Old 17-06-2019, 10:34 AM   #1175
annetyu
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Join Date: May 2018
Posts: 1,321
Sentosa property is the playground mainly for foreign investors, and recent CM imposed a tax of 20% on these foreign buyers.
As a normal singaporean family, would u want to live in Sentosa and send your kids to schools or travel to work by driving in and out of the Sentosa gantry to Singapore mainland every morning?
How would you and your parents find a decent/affordable hawker or coffee shops around Sentosa cove for their daily meals? Are there any nearby healthcare services if one needs urgent medical attention w/o the need to drive in and out?
Who would be your prospective Sentosa buyers in the near future?
One needs to think through and consider carefully the above points.

This has nothing to do with how much psf would be a safer bet. It’s a misconception to mix mainland property with Sentosa property. I can easily quote you more examples of Sentosa property making a loss of more than 40% and some of these properties are bought during the last decade where many other Singapore mainland properties are already seeing huge capital appreciation over the past few years.
Likewise in the property downward cycle, even in Singapore mainland, If u buy the wrong property at a cheaper psf, u will still lose money. In today’s context, there’s no sure win in property investment anymore.

While Sentosa property is suffering a 50% loss, Singapore mainland property are still transacting at skyhigh psf/quantum. It is important to be discerning in whatever we read and make sense out of it.

Penthouse at 3 Orchard By-The-Park fetches $31.5 mil http://www.newsloop.co/u/21ku51
Not only sentosa units are making losses. There are many developments on mainland that are consistently making losses too including orchard area. Marina bay suites is one example. I am pretty sure buyers who are paying sky-high for those new launch orchard penthouses will have a good chance to sell for loss in the future.

That said, I have said before that the luxury property market is very different from mass-market condos like Treasure etc.

UNDER THE HAMMER: Unit at Marina Bay Suites for sale at $5.8 mil
https://www.edgeprop.sg/property-new...es-sale-58-mil
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