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News - Detailed News Story

GuocoLand

Stock Chart
Last Done 1.970
Change -0.010 (-0.51%)
Volume 142
Range 1.960 - 1.980

Ho Bee Land

Stock Chart
Last Done 2.310
Change - (-)
Volume 46.3
Range 2.300 - 2.320

CityDev

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Last Done 9.380
Change +0.190 (+2.07%)
Volume 989
Range 9.110 - 9.380

Sentosa Cove in need of a boost in profile

17 Jul 2019 09:00

By Kalpana Rashiwala

MAINBOARD-LISTED property groups City Developments Ltd (CDL) and Ho Bee Land typically aim to sell off all units in their residential property developments, but in the waterfront housing district of Sentosa Cove, they have been leasing out some units in their respective projects in recent years.

This is not by choice, but due to the tough condo sales market in the locale. Transactions have been relatively few at Sentosa Cove and prices, weak.

The gap between condo prices on Sentosa Cove vis-a-vis in prime districts 9 and 10 on the mainland has widened significantly since the last peak in transaction activity in 2010.

BT Weekend recently cited a study that showed that last year, the average price of units sold in a basket of comparable non-landed residential projects in districts 9 and 10 was 77 per cent higher than the average price for condo units sold on the Cove.


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Source: Business Times
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