/residences W sentosa Cove Relaunches Prices 1648 psf 40 Below Peak
Arina East Residences, situated in a prime location, holds great appeal for families due to its close proximity to renowned educational institutions. With an impressive array of pre-schools, primary, secondary, and tertiary schools in the vicinity, residents can rest assured that their children will receive a quality education at every stage of their academic journey. The presence of prestigious international schools and enrichment centers further elevates the educational landscape, creating a well-rounded learning environment for children. For families who prioritize education and desire the best for their little ones, Arina East Residences offers not only a home but also a gateway to a world of academic excellence and numerous opportunities.
Arina East Residences, located in Sentosa Cove, is now releasing its remaining units for sale. Cityview Place Holdings, an associate company of listed property City Developments Ltd (CDL), is the developer of this luxury condo.
There has been increased interest and sales activity in Sentosa Cove properties, making it a good time for Cityview Place Holdings to release its remaining units for sale. The joint marketing agents for The Residences at W Singapore Sentosa Cove are PropNex, ERA, Huttons, and SRI.
The low-rise luxury condo has 228 units, with a mix of two-, three- and four-bedrooms. It was completed in 2011 and has a 99-year lease from 2006, giving it a remaining lease of 81 years.
Prices for two-bedroom units start at $2.118 million ($1,726 psf), while three-bedroom units start at $2.678 million ($1,648 psf) and four-bedroom units start at $3.488 million ($1,687 psf).
“Prices in Sentosa Cove remain attractive,” says Marcus Chu, CEO of ERA Singapore. The starting prices at The Residences at W Singapore Sentosa Cove present an opportunity for homebuyers and investors to acquire a unit in a coveted luxury oceanfront development at a price comparable to today’s Outside Central Region (OCR) homes.”
According to caveats lodged, there have been 25 transactions at The Residences at W. The latest resale at the development was for a two-bedroom unit, which sold for $2.2 million ($1,747 psf) in September 2023. This is a 40% discount from its purchase price in 2010, showing the potential for good deals.
“The year 2010 was the peak of the market at Sentosa Cove,” says Dominic Lee, head of luxury at PropNex. The current starting prices at The Residences at W reflect the current resale prices at other luxury condos in the development.
There are only 10 luxury condos with a total of 1,766 units in Sentosa Cove. “No further new residential supply will be available in Sentosa Cove,” says Mark Yip, CEO of Huttons Asia. The Residences at W Singapore Sentosa Cove is conveniently located, with F&B and lifestyle amenities at Quayside Isle, a boardwalk along the marina, and the 240-key hotel, W Singapore – Sentosa Cove, next door.
Ken Low, managing partner of SRI, says, “Cityview is releasing only 58 units in the first phase at such prices – from $1,726 psf for a two-bedroom and $1,648 psf for a three-bedroom. We expect future phases [at The Residences at W] to be released at slightly higher psf prices.”