Cityview Place Holdings, a subsidiary of the renowned property developer City Developments Ltd (CDL), is set to make a significant splash in the real estate market this month. With 58 meticulously curated units up for grabs, The Residences at W Singapore Sentosa Cove presents an enticing opportunity for both homebuyers and investors alike.
A spokesperson from Cityview Place Holdings has described these units as "specially curated" and offered at an "attractive price for a limited period." Starting at S$2.1 million for a two-bedroom unit and going up to S$3.5 million for a four-bedroom unit, these prices reflect a compelling investment proposition, particularly given the recent surge in interest and sales activity within Sentosa Cove properties.
Situated in District 4 of the prime Core Central Region, this 99-year leasehold luxury development, developed by CDL, occupies approximately 250,000 square feet of land. With a lease that began in 2006, there remains around 80 years of leasehold tenure, ensuring long-term stability for potential buyers. The project comprises 228 residential units and was completed in 2011.
According to The Residences at W Singapore Sentosa Cove rental transactions, most units within the development were leased between 2011 and 2024, with rents ranging from S$4.49 to S$6.97 per square foot per month. However, with this upcoming sales round, prospective buyers have the opportunity to own their slice of luxury living in Sentosa Cove.
In this sale, two-bedroom units spanning 1,227 square feet will start at S$2.1 million, offering a competitive price per square foot. Larger three and four-bedroom units are also available, catering to diverse lifestyle preferences. Additionally, select five-bedroom penthouse units will be on offer, providing unparalleled luxury living experiences.
2 bedrooms (1,227 sqft) from $2.10M or $1,726 PSF.
3 bedrooms (1,625 sqft) from $2.687M or $1,648 PSF.
4 bedrooms (2,067 sqft) from $3.488M or $1,687 PSF.
Comparing recent transaction data reveals the attractiveness of this offering. While just 20 units were sold since April 2010, with prices ranging between S$3.5 million and S$6.6 million, the current pricing for the 58 units represents a significant opportunity. The median unit price stands at S$2,810 per square foot, around 40% higher than CDL's current offering.
Recent resale transactions further underscore the potential for value appreciation. A 1,259 square foot unit transacted at S$2.2 million in September 2023, demonstrating a substantial price increase from its original sale price in 2010. Additionally, URA Realis figures indicate a favorable pricing trend, with median unit prices for condominiums in the Southern Islands at S$1,999 per square foot.
The Residences at W Singapore Sentosa Cove is part of CDL's upscale integrated development, Quayside Collection, comprising the renowned W Singapore-Sentosa Cove hotel and the vibrant F&B and retail hub, Quayside Isle. CDL's strategic moves, including a club deal with Blackstone and CIMB Bank in 2014 and the acquisition of full control of W Singapore-Sentosa Cove and Quayside Isle in 2019, demonstrate a commitment to capitalizing on Sentosa's transformation.
With viewings for the 58 units scheduled from April 10 to April 14 and sales bookings commencing on April 15, now is the opportune moment to secure a stake in this prestigious oceanfront development. Don't miss out on the chance to own a piece of luxury living in Sentosa Cove and be part of its promising future.