The Residences at W Sentosa Cove sells 65 units over two days at an average of $1,780 psf

A selection of remaining units recently released at Sentosa luxury development The Residences at W Singapore Sentosa Cove has drawn strong buyer interest, with 65 units sold over just two days of sales—exceeding the 58 units originally put up for sale—at an average price of $1,780 psf.

The Residences at W Singapore Sentosa Cove is a 228-unit, 99-year leasehold condominium that saw only 25 units sold when it was first launched in 2010. The remaining 203 units are held by Cityview Place Holdings, an associate company of City Developments Limited (CDL), which recently released 58 of these remaining units onto the market.

The 58 units offered at "attractive promotional prices" were opened for preview from 10 to 14 April via appointed property agencies, drawing an overwhelming turnout of 3,200 visitors.

By the evening of 15 April, the first day of sales, 45 units had been snapped up. To meet the robust demand, Cityview Place Holdings released additional units, with another 20 units sold on 16 April.

The company noted that 94% of the buyers were Singaporeans and Permanent Residents (PRs), while the remaining 6% were foreign nationals from China, France, and the US.

All unit types enjoyed keen interest, with two- and three-bedroom units proving the most popular. Discerning buyers also snapped up rare duplex penthouses.

The company stated that the strong buyer response to the special pricing reaffirms the resilient demand for Sentosa Cove properties among homebuyers seeking upscale, high-quality residences in an exclusive waterfront enclave.

The 228-unit, six-storey luxury condominium was developed by CDL and completed in 2011. Like all other condominiums within this 117-hectare upscale waterfront residential precinct, it sits on a 99-year leasehold tenure. Commencing from 2006, it has an 81-year balance lease remaining.

Prices for the 58 units were offered for a limited period, with 1,227 sq ft two-bedroom units starting from $2.118 million ($1,726 psf). Three-bedroom units from 1,625 sq ft were priced from $2.678 million ($1,648 psf), while four-bedroom units from 2,067 sq ft started from $3.488 million ($1,687 psf). These prices are effectively around 40% below peak prices when The Residences at W was first launched in 2010.

According to caveats lodged, 20 units were sold in 2010 at an average price of $2,793 psf. Another five units changed hands on the resale market, the most recent being a 1,259 sq ft unit on the fifth floor that transacted for $2.2 million ($1,747 psf) in September 2023.

With 65 units (32%) sold, 138 units remain available out of the original 203 unsold units.

The latest pricing for The Residences at W is significantly lower than new launches in the suburbs or Outside Central Region (OCR), where average prices hover between $2,100 and $2,200 psf.

This attractive price point drew many buyers who viewed the waterfront property as excellent value for money for an upscale development within the Core Central Region (CCR).

Beyond competitive pricing, buyers were also drawn to the generous unit layouts and resort-style living environment. Post-pandemic, many buyers—particularly owner-occupiers—are seeking larger homes in relatively low-density residential enclaves at manageable price points. Given the pricing of these units, investors were also keen to enter the market for their potentially attractive rental yields.