Four-bedroom penthouse at Sentosa’s Turquoise sold at $3.78 mil loss

The sale of a 3,283 sq ft, four-bedroom penthouse unit at Turquoise in Sentosa Cove, on Dec 27, 2022, resulted in the most unprofitable transaction for the week of Dec 27 to Jan 3. The unit changed hands for $4.63 million ($1,410 psf) while previously it fetched $8.42 million ($2,564 psf) in November 2007. Thus, the seller suffered a $3.78 million loss (45%), which translates to an annualised loss of 3.9% over 15 years.

Turquoise is situated in the exclusive Sentosa Cove residential enclave, and is one of a handful of 99-year leasehold condos. Views from most units are of the marina, with the exception of a few condos such as Seascape, Cape Royale, The Oceanfront @ Sentosa Cove, and The Coast @ Sentosa Cove that provide sea-facing vistas. The record loss here remains the sale of a 3,746 sq ft, five-bedroom penthouse, at $4.4 million ($1,175 psf) in September 2018, with a previous purchase price of $9.53 million ($2,545 psf) in November 2007, resulting in a $5.13 million loss with an annualised loss of 6.8% over 10 years.

Conversely, the most profitable resale transaction of the week was the sale of a 2,852 sq ft, four-bedroom unit at Nassim Mansionin prime District 10. The unit was sold for $9.28 Senja Close EC million ($3,253 psf) on Dec 29. Bought for $5.89 million ($2,068 psf) in May 2007, the seller was able to walk away from this sale having made a $3.38 million profit (57%), which translates to an annualised gain of 2.9% over 15½ years.

Moreover, the sale set a record psf-price high at the freehold development, surpassing the amount received by the sale of a 3,412 sq ft unit at $10.6 million ($3,107 psf) in June 2018.