Turquoise, a luxurious 91-unit condominium situated in Sentosa Cove and facing the waterway, currently has three duplex penthouses available for purchase at a value of $23 million. Among these three penthouses, the largest is a five-bedroom duplex spanning across 7,987 sq ft. This penthouse also happens to be the largest among the 10 penthouses within the 99-year leasehold waterfront condo. With a price tag of $12 million (equating to $1,502 per square foot), the penthouse comes with a wine cellar, kitchen and living area, four en suite bedrooms, two utility rooms and a balcony on the lower level. On the upper level, the master bedroom suite boasts a private infinity pool, pool deck and outdoor shower.
Another penthouse available for purchase at Turquoise is a 3,746 sq ft, four-bedroom unit listed at $5.99 million ($1,599 psf). The upper floor of this penthouse features a large open-air terrace with a built-in jacuzzi and stunning views of Sandy Island and Sentosa’s southern waterfront.
The last penthouse for sale is a 3,111 sq ft, three-bedroom unit with an asking price of $5 million ($1,607 psf). All three penthouses are located on the sixth floor and are equipped with private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies and en suite bathrooms for each bedroom.
In addition to these top-of-the-line penthouses, Turquoise offers residents access to a gym, barbeque pits, swimming pool, steam room and 21 private berths. Developed by Ho Bee Land, the 99-year leasehold Turquoise was completed in 2010 and boasts 91 units across three 6-storey blocks. The typical units available are a mixture of three- and four-bedroom apartments, with three-bedders ranging from 2,088 sq ft to 2,573 sq ft and four-bedders ranging from 2,400 sq ft to 3,050 sq ft. Penthouses are available in sizes from 3,111 sq ft to 3,764 sq ft, while sky villas range from 6,900 sq ft to 7,987 sq ft.
The developer still owns the largest penthouse within Turquoise, which is the 7,987 sq ft, five-bedroom duplex currently on the market for $12 million. According to URA caveats, the second-largest penthouse for sale, the 3,746 sq ft, four-bedroom duplex, was purchased by a Korean national for around $9.5 million ($2,545 psf) back in November 2007 when Turquoise was initially launched.
The three-bedroom duplex penthouse spanning across 3,111 sq ft was acquired by an African national for just over $8 million ($2,579 psf) in December 2007, based on caveats lodged at that time.
All three penthouses for sale at Turquoise, which are situated on the sixth floor and come with private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies and attached en suite bathrooms in each bedroom, were initially purchased for investment purposes and as holiday homes for foreign buyers when the project was first launched. However, as current owners are looking to pursue other investment opportunities, they are now looking to divest their properties after holding on to them for nearly 18 years.
When it comes to purchasing a condo, it is crucial to take into account the maintenance and management aspects of the property. Along with the cost of ownership, condos typically come with maintenance fees that cover the upkeep of shared spaces and amenities. Although these fees may increase the overall cost of owning a condo, they also ensure that the property maintains its value and remains in good condition. To make condo ownership a more passive investment, investors can opt to hire a property management company to handle day-to-day tasks.
While Turquoise has seen a decline in prices in recent years, the project continues to attract buyers who are looking for a holiday home, as well as those who wish to purchase a primary residence. In the initial years when the project was launched, foreigners made up 59% of the 39 new purchasers, while Singaporeans accounted for only 25.6% of buyers and permanent residents (PRs) made up 12.8%. One unit was purchased by a company.
However, since its completion in 2010, Singaporean buyers have accounted for 57.4% of the transactions (equating to 39 units) at Turquoise, making up the bulk of all resale buyers. Meanwhile, another 32.3% of the transactions (22 units) were made by PRs, while foreign buyers accounted for only 8.8% (six units). The most recent resale transaction involved a company.…