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When contemplating an investment in a Singapore Condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, rental yields for condos can vary significantly based on factors such as location, property condition, and market demand. Generally, areas in high demand for rentals, such as those near business districts or educational institutions, offer more attractive rental yields. To gain a better understanding of a specific condo’s rental potential, it is advisable to conduct thorough market research and seek guidance from real estate agents.
Luxury living at its finest awaits at Turquoise, a 91-unit condo located at the prestigious Sentosa Cove waterfront. Now, three exclusive duplex penthouses are available for sale at the luxurious price tag of $23 million each.
The largest penthouse on offer spans an impressive 7,987 sq ft and boasts five spacious bedrooms. It is also the largest penthouse out of the 10 in the whole development, making it a truly coveted property. Priced at $12 million (equivalent to $1,502 psf), this duplex penthouse features a wine cellar, a state-of-the-art kitchen and living area, four en suite bedrooms, two utility rooms, and a balcony on the lower level. The upper level is home to the luxurious master bedroom suite, complete with a private infinity pool, a pool deck, and an outdoor shower.
Following close behind is the second-largest penthouse, covering 3,746 sq ft and featuring four bedrooms. This grand unit is currently listed for sale at $5.99 million (or $1,599 psf). The upper floor of this penthouse boasts a large open-air terrace equipped with a built-in Jacuzzi, offering breathtaking views of Sandy Island and Sentosa’s southern waterfront.
Last but not least, the third penthouse up for sale is a lavish 3,111 sq ft unit with three bedrooms. With a guide price of $5 million ($1,607 psf), it presents a fantastic opportunity for luxury living in Sentosa Cove. All three penthouses are located on the sixth floor, providing residents with utmost privacy and exclusivity. Each unit also features private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, and en suite bathrooms in every bedroom.
Apart from the lavish penthouses, Turquoise offers a range of exquisite amenities for its residents, including a gym, barbeque pits, a swimming pool, a steam room, and 21 private berths for homeowners. Developed by renowned developer Ho Bee Land, this 99-year leasehold condo was completed in 2010 and is home to 91 luxurious units spread across three 6-storey blocks. The typical units feature a mix of three- and four-bedroom apartments, ranging from 2,088 sq ft to 3,050 sq ft. There are also penthouses ranging from 3,111 sq ft to 3,764 sq ft and sky villas spanning from 6,900 sq ft to 7,987 sq ft.
Interestingly, the developer still owns the largest penthouse in Turquoise, which is currently on the market for a staggering $12 million. According to URA caveats, the second-largest penthouse was bought by a Korean national for approximately $9.5 million ($2,545 psf) back in November 2007, when Turquoise was first launched. The three-bedroom duplex penthouse was purchased by an African national for just over $8 million ($2,579 psf) in December 2007.
Given the prime location and top-notch facilities offered by Turquoise, it was initially popular among foreign buyers, who saw it as a lucrative investment and a holiday home. However, the recent trend has seen a shift towards more owner-occupiers, who are increasingly drawn to the serene and luxurious lifestyle offered at Sentosa Cove. This is reflected in the current buyer profile at Turquoise, with Singaporeans making up the majority of resale buyers at 57.4%, followed by PRs at 32.3%, and foreign buyers at 8.8%.
Despite the softening of prices following the 2008 Global Financial Crisis, Turquoise still boasts impressive rental yields. For instance, the four-bedroom penthouse, which is currently leased out, commands a rental rate of $18,000 per month, equivalent to a gross rental yield of 3.6% based on its listing price of $5.99 million.
In conclusion, Turquoise is a prime example of luxury living at its best, offering unparalleled facilities and a premium waterfront location. Its unique waterfront lifestyle, paired with Singapore’s status as a safe haven amidst global uncertainties, make it a highly sought-after property that should not be missed.