{"id":74169,"date":"2024-04-12T18:36:42","date_gmt":"2024-04-12T10:36:42","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=74169"},"modified":"2024-04-12T18:36:42","modified_gmt":"2024-04-12T10:36:42","slug":"the-residences-w-sentosa-40-off-launch-price-from-s1648-psf","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/the-residences-w-sentosa-40-off-launch-price-from-s1648-psf\/","title":{"rendered":"Luxury condos at The Residences, W Sentosa now available at 40% off launch price, from S$1,648 psf"},"content":{"rendered":"
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Image credit: Google Maps<\/em><\/p>\r\n\r\n\r\n\r\n

The luxury property market in Singapore has experienced its fair share of ups and downs, especially following the high-profile billion-dollar money laundering scandal that rocked our nation.<\/a> However, amidst this backdrop of caution, we seem to be hearing some promising news in the upscale real estate sector:\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

Grant Wee, from the Wee family behind UOB, recently made headlines with his purchase of a prestigious Good Class Bungalow (GCB) for a staggering S$39.5 million.<\/span><\/a><\/p>\r\n\r\n\r\n\r\n

Adding to the buzz is the news of The Residences at W Sentosa Cove<\/a> offering its units at a whopping 40% discount from their original launch prices. Let\u2019s get into the details of this limited-time offer:\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

Discounted unsold units at The Residences, W Sentosa<\/b><\/h2>\r\n\r\n\r\n\r\n

Cityview Place Holdings, an affiliate of CDL, has announced the release of 58 out of the 203 units it owns at The Residences at W Singapore Sentosa Cove for sale<\/a>.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

This decision was prompted by a noticeable increase in interest and sales activity within the Sentosa Cove property market.<\/a><\/span><\/p>\r\n

Looking for recently MOP-ed BTOs?<\/strong>\u00a0Check out the full list here:\u00a0Full list of BTO projects hitting MOP in 2024\/2025<\/a><\/em><\/p>\r\n\r\n\r\n\r\n\r\n\r\n

Pricing details<\/b><\/h2>\r\n\r\n\r\n\r\n

Prices for the available units vary based on their size and configuration. Two-bedroom units, with a size of 1,227 sq ft, start from S$2.118 million (S$1,726 psf).\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

Three-bedroom units, spanning 1,625 sqft, are priced upwards of S$2.678 million (S$1,648 psf), while four-bedroom units, covering 2,067 sqft, are priced north of S$3.488 million (S$1,687 psf).<\/span><\/p>\r\n

Check your affordability with 99.co’s affordability calculator<\/a>!<\/strong><\/p>\r\n\r\n\r\n\r\n

Viewing and sales schedule<\/b><\/h2>\r\n\r\n\r\n\r\n

Prospective buyers can view the available units from April 10 to 14, with sales set to commence on April 15.<\/a> Leading real estate agencies such as PropNex, ERA, Huttons, and SRI are jointly handling the marketing efforts for these units.<\/span><\/p>\r\n\r\n\r\n\r\n\r\n\r\n

The Residences, W Sentosa property overview<\/b><\/h2>\r\n\r\n\r\n\r\n

\"Location<\/a>Nestled within CDL’s esteemed Quayside Collection, The Residences at W Singapore Sentosa Cove embodies luxury living. This integrated development not only features the residential enclave but also the renowned W Singapore-Sentosa Cove hotel and Quayside Isle, offering a seamless blend of sophistication and convenience.<\/span><\/p>\r\n\r\n\r\n\r\n

Situated along the picturesque Ocean Way in Sentosa Cove<\/a>, The Residences at W has 228 units with diverse layouts, ranging from cosy two-bedroom setups to spacious four-bedroom configurations. Completed in 2011, the development secured a 99-year lease from 2006, ensuring a substantial remaining tenure of 81 years.<\/span><\/p>\r\n\r\n\r\n\r\n

Renowned for its prime location, The Residences at W stands out among Sentosa Cove’s exclusive offerings. Its close proximity to Quayside Isle, the marina, and the W Singapore \u2013 Sentosa Cove hotel ensures residents have access to a plethora of amenities and leisure options.<\/span><\/p>\r\n\r\n\r\n\r\n

Beyond its location and investment potential, The Residences at W offers spacious units and a range of lifestyle amenities, setting a new standard for luxurious living. Catering to both owner-occupiers and investors, these features elevate the allure of the development. Moreover, the robust rental demand in Sentosa Cove, particularly for larger units, further enhances its appeal as an investment opportunity.<\/span><\/p>\r\n\r\n\r\n\r\n

But that\u2019s not all that makes this development and its discounted price point so appealing.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

It’s also worth noting the scarcity of luxury condo supply in Sentosa Cove. With only 10 condos totalling 1,766 units in the area, this limited availability enhances the investment potential of The Residences at W. With no new residential supply anticipated, the rarity of luxury condos underscores the allure of this exclusive enclave, promising potential for appreciation over time.<\/span><\/p>\r\n\r\n\r\n\r\n

In fact, with only 58 out of the 203 units up for a discounted sale, future phases of The Residences at W may be released at slightly higher prices per square foot.<\/span><\/p>\r\n

Did your property make the 2024 en bloc list?<\/strong> Find out here: List of En bloc (Collective sale) in Singapore 2024<\/a><\/em><\/p>\r\n\r\n\r\n\r\n\r\n\r\n

That said, why didn\u2019t The Residences at W Sentosa sell well in the first place?\u00a0<\/b><\/h2>\r\n\r\n\r\n\r\n

Being a luxury condo in a prime location and developed by a reputable local developer, <\/span>it makes sense that The Residences at W Sentosa should have sold out. <\/span><\/p>\r\n\r\n\r\n\r\n

So why didn\u2019t it?<\/span>\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

To begin with, the upscale property market in Singapore hit a rough patch back in 2011, largely due to the government’s cooling measures<\/a>. These measures included imposing a hefty 18% property sales tax on foreigners and significant levies for those attempting to flip properties within the first or second year of purchase.<\/span><\/p>\r\n\r\n\r\n\r\n

This combined with the money laundering scandal that emerged further affected the market, reducing buyers’ enthusiasm.<\/span><\/p>\r\n\r\n\r\n\r\n

As a result, only 20 caveated transactions were recorded for the development between 2010 and 2023.<\/span><\/p>\r\n\r\n\r\n\r\n