Luxury condos at The Residences, W Sentosa now available at 40% off launch price, from S$1,648 psf

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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. However, amidst this backdrop of caution, we seem to be hearing some promising news in the upscale real estate sector: 

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.

Adding to the buzz is the news of The Residences at W Sentosa Cove offering its units at a whopping 40% discount from their original launch prices. Let’s get into the details of this limited-time offer: 

Discounted unsold units at The Residences, W Sentosa

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. 

This decision was prompted by a noticeable increase in interest and sales activity within the Sentosa Cove property market.

Looking for recently MOP-ed BTOs? Check out the full list here: Full list of BTO projects hitting MOP in 2024/2025

Pricing details

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). 

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).

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Viewing and sales schedule

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

The Residences, W Sentosa property overview

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.

Situated along the picturesque Ocean Way in Sentosa Cove, 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.

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 – Sentosa Cove hotel ensures residents have access to a plethora of amenities and leisure options.

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.

But that’s not all that makes this development and its discounted price point so appealing. 

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.

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.

Did your property make the 2024 en bloc list? Find out here: List of En bloc (Collective sale) in Singapore 2024

That said, why didn’t The Residences at W Sentosa sell well in the first place? 

Being a luxury condo in a prime location and developed by a reputable local developer, it makes sense that The Residences at W Sentosa should have sold out.

So why didn’t it? 

To begin with, the upscale property market in Singapore hit a rough patch back in 2011, largely due to the government’s cooling measures. 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.

This combined with the money laundering scandal that emerged further affected the market, reducing buyers’ enthusiasm.

As a result, only 20 caveated transactions were recorded for the development between 2010 and 2023.



Price comparisons of The Residences, W Sentosa with other condos

In 2011, two other condominiums in Sentosa Cove were completed: Marina Collection, consisting of 124 units, and Seascape, consisting of 151 units. 

A four-bedroom unit with an area of 2,185 sqft at Marina Collection was sold for S$3.8 million (S$1,739 psf) in December 2023, while its previous purchase price in October 2012 was S$4.37 million (S$2,000 psf). 

Similarly, a three-bedroom unit with an area of 2,174 sqft at Seascape was sold for S$4.11 million (S$1,890 psf) in December. The unit was initially purchased for S$5.877 million (S$2,703 psf) in April 2010 at the project’s launch. 

In 2013, the 302-unit Cape Royale was completed. Initially, units were leased until June 2022, when the developer released 50 units for sale in the first phase. Five units were sold in 2024 at an average price of S$2,215 psf. In 2023, 40 units were sold at an average of S$2,231 psf, and in 2022, the average price of 46 units sold was S$2,206 psf. Thus, prices have remained relatively stable above S$2,200 psf.

Interested in upcoming new launches for the year? Take a look at your options here: 8 new launches expected in Q2 of 2024

Can you expect unit prices at The Residences, W Sentosa to appreciate? 

Well, let’s consider some factors.

The Sentosa-Brani Master Plan is a major urban transformation initiative aimed at revitalising the Sentosa Island area. This plan is poised to drive up the demand for housing in the Harbourfront vicinity, which could result in an overall uptick in property prices. Additionally, the plan’s focus on creating an exclusive and serene environment within the dynamic Greater Southern Waterfront, along with the development of new residential private homes, is expected to enhance the allure of properties in Sentosa Cove.

Moreover, the plan is set to benefit from the S$6.8 billion RWS 2.0 expansion, which aims to elevate Sentosa into a premier tourism destination in Asia. With its focus on creating captivating natural experiences, this expansion is likely to draw more visitors to the area, further bolstering the demand for housing in the Harbourfront locale.

All in all, there is a promising outlook for property prices in Sentosa Cove, making investments like The Residences at W Sentosa an appealing prospect for both local and foreign buyers.

Are you planning to seize the opportunity and invest in The Residences, W Sentosa with its 40% discount? Let us know in the comments below or on our Facebook page.

This article is a product of 99.co and is based on information gathered from various sources, including The Straits Times and Business Times. These sources are used in good faith to provide valuable insights. The source of the referenced content is duly credited and we recommend readers refer them for a comprehensive understanding of the topic. 99.co is not responsible for errors, omissions, or consequences from using this information.