Sentosa Cove bungalows found no buyer in 1H

Data also show fewer renters.

Since demand for Sentosa Cove bungalows is down, owners will need more time to strike a deal.

According to CBRE, no transactions were recorded in the first six months of 2016 compared to four deals in 2015. The dearth of transaction, it said, could be attributed to the wide price gap between buyers and sellers.

A bungalow with a private berth in the South Cove is looking to sell at $22M. It has a land aread of 11,515 sf and a floor area of 12,400 sf. Another designer bungalow, nicknamed 'Copper House', has a price tag of $48M. It has a frontage to the sea, a land area of 18,052 sf and a built-up area of 9,597sf.

In the leasing market, CBRE notes that that 12 bungalows were rented out in Jan-May 2016, slowing down from H1 2015 when 23 bungalows were rented out. On average, each bungalow fetched $19,800/month, some 9% down from the $21,800/month achieved in H1 2015.