By Valerie Kor / EdgeProp Singapore | April 3, 2020 11:00 AM SGT
The Coast comprises 249 units, ranging from three- to four-bedroom apartments as well as luxury penthouses (Photo: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) – A four-bedroom apartment at The Coast at Sentosa Cove, is on the market with a guide price of $4.45 million ($1,695 psf). It is a mortgagee sale. It was scheduled to be put up for auction on March 27, but the auction was cancelled due to the latest Covid-19 advisory against large gatherings of more than 10 attendees. However, the property is still up for sale. Out of the six properties at Sentosa Cove in March 2020’s Knight Frank Private Treaty listing, three bungalows and one condominium apartment are mortgagee sales.
The 99-year leasehold condo at The Coast is 2,626 sq ft in size, with spacious living and dining areas. It is well renovated and comes with an enclosed kitchen and a private lift. Located on the third floor are four en suite bedrooms, a balcony and a direct sea view.According to URA caveats lodged, the property was last purchased for $4.41 million ($1,681 psf) in November 2006. The Coast comprises 249 units, ranging from three- to four-bedroom apartments as well as luxury penthouses. Facilities include a lap pool, jacuzzi, gym, barbecue pits and pavilions. It was completed in 2010 by Ho Bee Land.
Latest transactions of condo units at The Coast at Sentosa
|Sale Date||Area (sq ft)||Transacted price ($)||Unit price ($ psf)|
|Aug 14, 2019||2,896||4,750,000||1,640|
|May 24, 2019||4,779||6,520,000||1,364|
|Dec 18, 2018||3,100||5,530,000||1,784|
|Aug 1, 2018||2,626||4,688,000||1,785|
|May 21, 2018||2,497||4,744,300||1,900|
There have been no transactions at The Coast in 2020 so far. In August 2019, a 2,896 sq ft unit was transacted at $4.75 million ($1,640 psf). In May 2019, a 4,779 sq ft penthouse was sold at $6.52 million ($1,364 psf).
The Coral Island bungalows fronting the waterway come with private berths (Photo: Samuel Isaac Chua/The Edge Singapore)
Also at Sentosa Cove, one of the three bungalows that were listed as mortgagee sales is on Coral Island. It is going for a guide price of $10.5 million ($1,389.4 psf). The property was first put up for auction by JLL in July 2018 with an opening price of $11.5 million.
Completed in 2008, the 99-year leasehold bungalow was one of 21 on Coral Island that were developed by Ho Bee Land that year. The 8,697 sq ft house sits on a land area of 7,557sq ft and has four en suite bedrooms, a helper’s room, a private pool, an outdoor patio, a private yacht berth and a roof terrace with barbecue pit. There is ample space to park up to four cars. According to URA caveats lodged, the property was last purchased for $11.8 million ($1,561 psf) in December 2009. Joy Tan, head of auctions at Edmund Tie, says: “The guide price is very reasonable as compared to the other landed properties at Sentosa Cove.” A bungalow on Cove Grove was sold for $24 million ($2,464 psf) in February 2020, while another bungalow on Sandy Island fetched $16.8 million ($2,044 psf) in January 2020.
“The [Coral Island] bungalow’s separate living and dining areas offer privacy, face the marina, but do not face the sun during noontime. It comes with a private berth as well,” Tan adds.Past resale transactions at Coral Island lodged in URA’s caveats mostly involved bigger units that sit on land sizes ranging from 6,986 to 13,433 sq ft. The latest one was the sale of a 9,322 sq ft detached house at $11 million (1,180 sq ft). This first bungalow on Sentosa Cove to be sold as a mortgagee sale was on Paradise Island, a six-bedroom bungalow built on 8,800 sq ft leasehold land area. It was put up for auction by Colliers International in June 2017 for an opening price of $13 million. There were no bids and the property was withdrawn. It was sold later for just below $13 million in a closed tender.
Latest transactions of detached houses at Coral Island
|Sale Date||Area (sq ft)||Transacted Price ($)||Unit Price ($ psf)|
|Mar 21, 2017||9,322||11,000,000||1,180|
|Oct 30, 2014||8,654||12,000,000||1,386|
|Aug 14, 2013||6,986||18,000,000||2,575|
|Mar 6, 2013||13,433||28,000,000||2,084|
|Dec 20, 2012||13,433||26,500,000||1,973|
Meanwhile, auction houses in Singapore are responding differently to the Covid-19 advisory against large gatherings. JLL will not be conducting an auction in April, while Edmund Tie will be proceeding via the online Facebook Live platform. Knight Frank is still working on a possible alternative.
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