by OrangeTee & Tie Pte Ltd.

Cape Royale in Sentosa to be launched for sale, 9 years after completion

New Project Launches

Singapore, 09 Jun 2022

Units at the exclusive Cape Royale on Sentosa Island will be available for purchase soon, nine years after the complex was completed.

When the leasehold condominium building was completed in 2013, prospective buyers were put on hold because developers IOI Properties and Ho Bee Land decided to rent out the flats because selling prices had begun to decrease following two rounds of property cooling measures that year.

Ms Nicole Teo, senior associate group director at OrangeTee & Tie, noted: "I think it's an opportune time for Ho Bee Land to launch Cape Royale now. There is strong demand for large-sized units on the market now but the stock for that on the mainland is very low.

"Cape Royale's spacious unit sizes put it in good stead even as its age and location may draw the usual buyers away. But we have been seeing increased interest in Sentosa properties, not just from foreign buyers but also Singaporeans.

"Anecdotally, I'm seeing more and more local buyers viewing Sentosa properties, possibly because of the size premium they offer compared to the mainland, coupled with the unblocked sea views.

"Considering the fact that Seascape, which is next to Cape Royale, is slightly older but has been transacting at $2,000 to $2,100 psf, I think Cape Royale's price is considered attractive."

To read full article: click here

For more news, research and information,