Market View: Edgeprop Singapore 21 Aug 2020: Bungalow deals see a jump after ‘circuit breaker’ pause

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From the article, for the last 5 months, during Circuit Breaker and current phase 2 opening, there is a jump in Landed Bungalows including transactions in Sentosa Cove.

For GCB transactions in mainland, the transacted prices are between $1,051 psf to $1,976 psf.

For transactions in Sentosa, the transacted prices are between $1,414 psf to $2,464 psf.

Reasons behind these transactions despite Covid 19 are:

  1. Accumulated Demand during the Circuit Breaker in March through May 2020 and more realistic pricing.
  2. Some of these buyers are ‘Seizing the Opportunities’ as they have been waiting on the sideline. even before Covid 19 happen
  3. Even in Sentosa, the activities has picked up for the last 5 months. Besides HNW clients from China, there has been an increase in enquiries from Indonesia, India, Malaysia and Europe. They appreciate the value of having more space in a bungalow, especially during the circuit breaker.
Silver Lining for Sentosa?

Would believed that values at Sentosa Cove have fallen sharply from the frothy $3,000 psf level in the 2010–2011 period. Prices are just starting to find a new equilibrium. This time, they are driven by owner occupier demand, unlike speculative demand in the past.

The year to date transaction for Sentosa has surpassed the whole of 2019!

And the sales momentum would continue to pick up in coming months with border control easing as well.

Feel free to click on the Sentosa Cove Listings that I am currently helping my owners to market. Be it for yourselves or your friends that might be interested.

Please feel free to contact me for further enquires regarding GCB and Sentosa Cove properties.

Bungalow Transactions in Sentosa Cove: 2020 year to date (URA)
Bungalow Transactions in GCB areas: 2020 year to date (URA)

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