The leasing market in Sentosa Cove is starting to pick up, as more units are ready for occupation, according to property consultants Colliers International.
With some 300 units at Sentosa Cove having temporary occupation permits, Colliers said the leasing market could be starting to take shape.
Numbers from the Urban Redevelopment Authority showed that some 51 leasing contracts were recorded for homes there between January last year and April 2008. Forty-six of those went to The Berth by the Cove.
Some 99.6 per cent of land parcels for sale in Sentosa Cove has been taken up by private developers and individuals – in all yielding more than 2,000 condominium units, and 400 bungalows and terrace houses.
Contracted monthly gross rents are believed to range from S$4,700 for a two-bedroom unit to as high as S$12,250 for a four-bedroom unit in a condominium development.
Landed homes are believed to command between S$12,000 and S$30,000 per unit.
Source : Channel NewsAsia – 2 Jul 2008