Yet another luxury condo fire sale You’ve probably heard: The prices at The Residences at W Singapore Sentosa Cove are being slashed by over 40 per cent. But as great as that may sound, here are a few things that haven’t made their way into some media articles:

• The 99-year lease starts from 2006, and this project was completed in 2011. It still hasn’t sold out its 228 units, which is a really long time.
• The one recorded transaction we can find here, on 7th September 2023, shows a loss of $1.46 million.
• The maintenance fee of just a two-bedder unit is $1,200+ per month. For the bigger units, this can go from $1,400 to $1,600+ per month.
• Do remember that if a lot of units sell for 40 per cent less, then the floor price is just 40 per cent less. Future buyers will use that as the reference point, which might not make the discount (which is off the original price) that big of a deal.

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