Turquoise, a prestigious waterfront condo at Sentosa Cove, is currently offering three luxurious duplex penthouses for sale. Priced at $23 million, these penthouses are equipped with top-of-the-line amenities and offer stunning views of the waterway. The largest of the three penthouses boasts a spacious living area, five en suite bedrooms, a private infinity pool, and an outdoor shower, all spread out over 7,987 square feet of living space. It is also the largest of the 10 penthouses within the 99-year leasehold development.
The second penthouse, priced at $5.99 million, offers four bedrooms and 3,746 square feet of space. It features an open-air terrace with a built-in jacuzzi and unobstructed views of Sandy Island and the southern waterfront of Sentosa. The third penthouse, with a guide price of $5 million, offers three bedrooms and spans 3,111 square feet. All three penthouses are located on the sixth floor and come with private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, and en suite bathrooms in each bedroom.
Turquoise, developed by Ho Bee Land, offers a range of amenities for residents, including a gym, barbeque pits, swimming pool, steam room, and private berths for boating enthusiasts. The project was completed in 2010 and has a total of 91 units spread out across three 6-storey blocks. The units primarily feature three and four bedrooms, with sizes ranging from 2,088 square feet to 3,764 square feet for penthouses and sky villas. The condo is popular among investors and expats looking for a holiday home.
According to List Sotheby’s International Realty senior associate VP, Michele Cabasug, most foreign buyers purchased units at Turquoise for investment and holiday home purposes when it was first launched. The largest penthouse is currently owned by the developer, while the second-largest was purchased by a Korean national in November 2007 for about $9.5 million ($2,545 psf). The third penthouse was bought by an African national for just over $8 million ($2,579 psf) in December 2007. The current owners are looking to divest their properties after holding them for almost 18 years.
Cabasug also notes a shift in buyer profile at Sentosa Cove, with more people looking to buy primary residences rather than holiday homes. When Turquoise was first launched, 59% of the new buyers were foreigners, while Singaporeans only made up 25.6% of the buyers. Since its completion, however, 57.4% of the resale transactions at Turquoise were by Singaporeans, followed by 32.3% by PRs.
When considering property ownership in Singapore, it is crucial for international investors to be familiar with the applicable regulations and limitations. Unlike landed properties, which have stricter ownership regulations, foreign buyers can generally purchase condos without much restriction. However, they are subject to the Additional Buyer’s Stamp Duty (ABSD), which is currently at 20% for their first property purchase. Despite the added expenses, the stable and promising growth of the Singapore real estate market continues to allure foreign investment. Stay updated with New Condo Launches to explore more investment opportunities.
Developer Ho Bee Land is known for its contributions to the development of Sentosa Cove, including projects such as Turquoise, The Berth by the Cove, The Coast, Seascape, and the Cape Royale. The company’s bungalows at Coral Island and Paradise Island are also located at Sentosa Cove.