Ravi Chandran
A 6 bedroom bungalow is up for sale at the exclusive Pearl Island for $26.3 million. The 10,215 sq. ft. single family home with 6 bedrooms and 7 bathrooms, is marketed by List Sotheby’s International Realty.
Pearl Island is in Singapore’s Central Region and is an island within an island.
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The island in Sentosa is 10 minutes drive from the Central Business District, and a mere 20 minutes from Singapore’s Changi Airport. The tree-lined boulevard of the development is flanked by 2 world-class golf courses. It is also Singapore’s only waterfront community of high-end residences and a marina/yacht club.
Pearl Island evokes a sense of romanticism of a private island, and is alluring because it is an ultra-private community and a sanctuary. To build upon the concept of an island within an island, each bungalow is conceived as an island, with a shallow pool of water surrounding it.
As befits waterfront living, water is used as a unifying factor linking all the individual plots, creating a body of water, with the bungalows likened to boulders sitting in the water.
10 minutes drive from the CBD, 20 minutes from Singapore’s Changi Airport, along a tree-lined boulevard flanked by 2 world-class golf courses, arrive at Singapore’s only waterfront community of high-end residences and a marina/yacht club.
Besides being in a coveted location, the 6-bedroom bungalow in Pearl Island is an ultra niche luxury development in the exclusively gated sanctuary in the Southern Residential Precinct of Sentosa Cove. It is a lavish warerway villa which has a private pool, as well as a private berth.
Pearl Island is an island on an island, an island on Sentosa island itself. Sentosa is a resort island just 10 minutes from the new monetary hub of Singapore and also of Asia. Sentosa Cove is a special enclave on Sentosa Island where the lure of the sea and the beauty of island living is commemorated as well as amplified.
Pearl Island, the last of Sentosa Cove’s river plots for luxury household advancements, is a special sanctuary, and an epitome of restorative living. It is near, and yet far from the hustle and bustle of the city. An ample residential island within 117 hectares of the Cove’s green area, Pearl Island spans 19,150.9 square metres and 14,840.4 square metres.
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Situated conveniently among the green Sentosa Golf Club, the cerulean sea and also the shiny Tanjong Coastline, buyers of the 6-bedroom bungalow will be privy to the plentiful picturesque delights of nature. All within the Cove’s specifically gated southern household precinct.
Pearl Island @ Sentosa Cove is a luxurious and exclusive residential development that is situated at Sentosa Cove in District 4, Singapore. It covers a land area of more than 159,000 square feet. It only has 19 bungalow units. Tenure is 99 years and TOP date is be on 2012.
The developer of Pearl Island is Xingmeng Land Pte Limited and its architect consultant is Eco.id Architects. This project is the last area in Sentosa Cove that is developed into a residential haven. The 19 bungalow units at Pearl Island Sentosa will have their sizes range from 609 square meters up to 1083.9 square meters. Their build up area range from 613 square meters up to 1047 square meters.
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A recent research report by List Sotheby’s International Realty said that Singapore’s luxury property segment saw a 42 per cent drop quarter-on-quarter. The report said the local luxury property segment as a whole took a hit after the property cooling measures with 13 Good Class Bungalows (GCBs) being sold along with 1 bungalow in Sentosa Cove and 61 luxury apartments.
This is a drop of 42% from the 8 GCBs, 4 Sentosa Cove bungalows and 119 luxury apartments sold in Q2 2018. List Sotheby’s said these figures show that the cooling measures have a greater impact on the luxury property segment of Sentosa Cove and luxury apartment segments than on the GCB segment.
The reduced sales in the first 2 luxury property segments could be attributed to a drop in foreign and permanent resident (PR) buyers who are hit by the higher ABSD rates, said the niche real estate services company. It added that as GCBs are restricted properties which only locals can buy, the segment was relatively more resilient.
GCBs are restricted properties and only Singapore citizens are eligible for ownership. An earlier report by List Sotheby’s noted that in recent years, GCB buyers tend to be families who are upgrading from smaller bungalows, Singaporean entrepreneurs in their late 30s as well as newly-minted high-net-worth (HNW) citizens. This group is likely to continue to support the GCB market in the luxury property segment.
While foreigners are allowed to own bungalows in Sentosa Cove, the additional buyer’s stamp duty (ABSD) is still a daunting factor to a foreign buyer. The cooling measures involve raising the ABSD for home buyers and reducing the loan-to-value (LTV) ratio by 5 percentage points for all housing loans granted by financial institutions.
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