Residential

2 in 5 Sentosa condos resold at a loss

According to market watchers, cooling down measures such as loan restrictions may have driven buyers away from the luxury homes market. Data from URA Realis that was gathered by STProperty.sg showed that 31 condominium units at Sentosa have been resold since May 2013, however, about two in five units were resold at a loss. According to HSR Research, between January and May this year, the average resale price fell 25 per cent to $1,800 per square foot as compared to $2,400 per square foot over the same period last year. Nonetheless, since only five transactions were made this year, price movements are expected to be more volatile. Among others, four units at The Berth, three units at The Oceanfront, two at the Coast and one at Azure were resold at a loss. Nicholas Mak from SLP International believes that ...