‘Frozen in time’: has Singapore’s Sentosa Cove lost its allure after 20 years?

Residents and industry insiders reflect on a changing landscape as new regulations and market shifts reshape Sentosa Cove’s future

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Luxury homes at Sentosa Cove, Singapore. Photo: Roy Issa

Published: 3:30pm, 1 Sep 2024

For commodities trader Jerome Jung, mornings begin with a stroll along the waterfront at a marina where some of Singapore’s wealthiest residents dock their yachts.

The environs of Sentosa Cove make his daily hour-long commute to the city state’s central business district and back worthwhile, the 41-year-old says.

Jung and his wife, both from South Korea and permanent residents of Singapore, bought a three-bedroom condominium at Cape Royale two years ago. He acknowledges they are among a rare few who prioritise greenery over convenience.

“My case is a bit exceptional,” he said. “Most Koreans prefer to live in River Valley or Bukit Timah but we don’t have kids. If we did then it would be difficult to live here because there aren’t many schools.”

Sentosa Cove, located on the eastern side of Sentosa Island, is renowned for luxury living. High-net-worth individuals can berth their yachts at ONE°15 Marina and enjoy a round of golf at Sentosa Golf Club. This exclusive enclave in land-scarce Singapore is made up of mostly reclaimed land, including five artificial islands named Coral, Paradise, Treasure, Sandy and Pearl.

Luxury boats and yachts on display during the Singapore Yacht show at ONE°15 Marina Club in Sentosa Cove. Photo: AFP

However, unlike the rest of Singapore’s core central region, property prices in the 117-hectare Sentosa Cove have not been steadily climbing over the past two decades, despite it being the only place in the 750 sq km city state where foreigners can purchase landed homes – properties that include a title to the land on which the home sits.