Sentosa Cove property prices buck mainland uptrend as loss-making deals rise

In July, a condominium unit at Marina Collection in Sentosa Cove was resold for $4.95 million, over 40 per cent below the price paid in 2008.

- Joyce Lim Senior Correspondent

The seller had bought the 3,272 sq ft unit from the developer at $8.63 million.

While the latest data from the Urban Redevelopment Authority (URA) showed Singapore's overall private residential prices continuing to rise, Sentosa Cove prices have moved the other way.

Data compiled by property analysts shows that Sentosa Cove’s resale market softened in 2024 and 2025, with more than half of the deals changing hands at a loss.

In 2024, about 59 per cent of landed and non-landed resale transactions in Sentosa Cove were loss-making. So far in 2025, this proportion has risen to about 66 per cent, according to data from the research and market intelligence unit of property agency ERA Singapore.

Prices for non-landed homes in Sentosa Cove fell 18.7 per cent, from $2,125 per sq ft (psf) at the 2023 peak to about $1,792 psf in 2024 and $1,728 psf in the first nine months of 2025.

Landed home prices on the island also dropped by about 13.1 per cent, from $2,210 psf in 2023 to $1,842 psf in 2025, URA figures showed.

In comparison, overall median prices of resale condominium units in the Core Central Region (CCR) on the mainland rose from $2,081 psf in 2023 to $2,111 psf in 2024 and $2,186 psf from January to September 2025.

The URA’s release on Oct 24 showed that the overall private residential property price index rose 0.9 per cent from the second to the third quarter of 2025. Prices of landed properties increased by 1.4 per cent, while those of non-landed homes rose by 0.8 per cent.

Sentosa Cove’s outlier performance underscores how the waterfront enclave, which has 2,160 private homes, remains driven by a niche, lifestyle-oriented buyer pool, said property analysts.