Investing in a condo in Singapore has become an increasingly popular choice for both locals and foreign investors. This trend can be attributed to the city-state’s strong economy, stable political climate, and exceptional living standards. With a thriving real estate market, Singapore offers a plethora of investment opportunities, and condos are particularly attractive due to their convenience, amenities, and potential for high returns. In this article, we will delve into the advantages, factors to consider, and steps to take when embarking on a condo investment journey in Singapore.
Turquoise, a luxury condo at Sentosa Cove, has three duplex penthouses for sale at $23 million. One is a 7,987 sq ft, five-bedroom duplex, the largest of the 10 penthouses in the 99-year leasehold waterfront condo. It features a wine cellar, four en suite bedrooms, a private infinity pool and a balcony. The second-largest penthouse is a 3,746 sq ft, four-bedroom unit with a large open-air terrace and views of Sandy Island and Sentosa’s southern waterfront. The last penthouse is a 3,111 sq ft, three-bedroom unit with a guide price of $5 million. All three penthouses have private lift lobbies, wet and dry kitchens, and floor-to-ceiling windows. The condo has amenities such as a gym, swimming pool, barbeque pits and 21 private berths for residents. Developed by Ho Bee Land, this condo saw prices hit a new low of $1,165 psf when a 2,400 sq ft, four-bedroom changed hands for $2.8 million in February 2021. Last year, the average price of units sold at Turquoise was $1,427 psf across four recorded resale transactions. While this may seem like a loss for the penthouse owners who are looking to sell, it also reflects an increase in the number of buyers looking to purchase a primary residence rather than a holiday home. According to Cabasug, the increased prevalence of working from home in recent years has also improved buyers’ sentiments about purchasing a home in Sentosa. The developer, Ho Bee Land developed several other projects at Sentosa Cove, including The Berth by the Cove, The Coast, Seascape, and Cape Royale, as well as Coral Island and Paradise Island.