Is it a Good Deal?: A three-bedder in Sentosa sold for a loss of $2.357 million
So far this year, Turquoise has chalked up two unprofitable transactions with million-dollar losses. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
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Last month, a three-bedroom unit on the third storey of Turquoise was sold for $3.1 million ($1,485 psf), resulting in a loss of $2.357 million. The seller had purchased the 2,088-sq ft unit in November 2007 for $5.457 million ($2,613 psf).
We used our analytics tool, Is it a Good Deal?, to assess whether the buyer of the unit in Sentosa secured a good deal.
Located in Sentosa
Turquoise is located along Cove Drive in Sentosa and within District 4. The 99-year leasehold condo obtained its temporary occupation permit (TOP) in 2010, making it 15 years old. It has a remaining lease of approximately 81 years, as its land lease commenced in 2007 (see Screenshot 1).
Source: EdgeProp Is it a Good Deal (as at 1 September 2025)
Due to its location outside the main island, Turquoise is within walking distance of only a limited number of amenities, which include ONE°15 Marina Club and Quayside Isle (see Map 1). The nearest mall is VivoCity, and the nearest MRT station is HarbourFront. However, both amenities are located on the main island and are more than 2km away. There are also no schools within a 2km radius of the condo.
Source: EdgeProp LandLens (as at 1 September 2025)
Turquoise features only 91 homes, comprising three-bedroom and four-bedroom units The majority of the units range from 2,088 sq ft to 3,746 sq ft. Hence, the subject unit is one of the smallest in the development.
Our tool also indicated that the transacted price of $1,485 psf for the subject unit is not only below the average prices of two nearby condos, but also below the average price of similar condos in District 4 (see Screenshot 2).
Source: EdgeProp Is it a Good Deal (as at 1 September 2025)
Record-high loss of $5.132 million
When it was launched in 2007, Turquoise achieved an average price of $2,602 psf and reached a peak of $2,658 psf in 2008. Since then, its average price has remained below $2,500 psf.
Thus far this year, Turquoise has recorded an average price of $1,370 psf (see Chart 1), representing a 47.3% decline from its average price when it was launched in 2007.
Source: EdgeProp Market Trends (as at 1 September 2025)
The price decline could explain why the condo has recorded 29 unprofitable transactions and only one profitable transaction. Losses ranged from approximately $200,000 to $5.132 million. Hence, the $2.357 million loss for the subject flat falls in the middle of the loss spectrum.
The record-high loss of $5.132 million also represents the only transaction for the condo with a loss exceeding $5 million. The seller had purchased the 3,746-sq ft unit on the sixth storey in November 2007 for $9.532 million ($2,545 psf) and sold it in September 2018 for $4.4 million ($1,175 psf).
The average price for Turquoise was $2,602 psf in 2007 and $1,424 psf in 2018, indicating that the seller had paid a lower-than-average price but also sold below the prevailing average. The overall price decline for Turquoise, coupled with the relatively low sale price, could explain the eye-watering loss of $5.132 million.
The unit involved is a four-bedroom duplex on the top floor. The upper level of the penthouse comprises an en-suite master bedroom with a walk-in wardrobe, two open terraces, and a private spa pool. Meanwhile, the lower level features an en-suite junior master bedroom, two additional en-suite bedrooms, and a powder room. The unit also includes a private lift, a spacious living and dining area, and two balconies (see Floor Plan 1).
Source: EdgeProp Research
Only two unprofitable transaction this year
There have been only two unprofitable transactions at Turquoise thus far this year. The subject unit incurred the smaller loss of $2.357 million, while a four-bedroom unit on the fifth storey recorded the larger loss of approximately $3.129 million (see Table 1).
Source: EdgeProp Buddy (as at 1 September 2025)
The smaller size of the subject unit likely contributed to the smaller loss experienced by its seller. The subject unit is a three-bedroom property measuring 2,088 sq ft, while the other unprofitable unit is a four-bedroom property measuring 2,497 sq ft.
Additionally, the seller of the subject unit purchased it in November 2007 for $2,613 psf, lower than the $2,655 psf paid in October 2007 by the seller of the other unit. Furthermore, the subject unit was sold at $1,485 psf, higher than the $1,402 psf achieved by the other flat.
However, it is notable that both flats were sold at prices above the current average of $1,370 psf for Turquoise (see Chart 1), indicating that the overall price decline of the condo contributed significantly to the losses experienced by both sellers.
Only one profitable transaction
Since its launch, only one profitable transaction has been recorded at Turquoise. The seller bought a 2,185-sq ft unit in July 2015 for $2.9 million ($1,327 psf) and sold it in September 2015 for $3.7 million ($1,693 psf), resulting in a profit of $800,000.
However, the profit pocketed by the seller would have been significantly smaller because the seller held the property for less than a year and was therefore liable for Seller’s Stamp Duty (SSD). The SSD rate in September 2015 was 16% of the sale price for properties held for less than one year.
Notably, the same unit was also involved in other transactions that resulted in losses for two owners. The first owner had bought the unit in October 2007 for $6.038 million ($2,763 psf) and sold it in July 2015 for $2.9 million ($1,327 psf), incurring a loss of approximately $3.138 million. The third owner bought the unit in September 2015 for $3.7 million ($1,693 psf) and sold it in April 2021 for $3.5 million ($1,602 psf), resulting in a smaller loss of $200,000 (see Table 2).
Source: EdgeProp Buddy (as at 1 September 2025)
Three condos within 500m radius
There are only three condos within a 500m radius of Turquoise, namely Cape Royale, Marina Collection and Seascape (see Map 2). All are 99-year leasehold developments that obtained TOP after Turquoise.
Source: EdgeProp LandLens (as at 1 September 2025)
Marina Collection and Seascape received their TOP in 2011, a year after Turquoise. However, both have the same remaining lease of 81 years as Turquoise, because the land leases for all three condos commenced in 2007. Cape Royale is the newest, having obtained its TOP in 2013, and has a slightly longer remaining lease of 82 years because its land lease started in 2008.
Among the four condos, Cape Royale is the largest with 302 units, followed by Seascape (151 units), Marina Collection (124 units) and Turquoise (91 units).
Additionally, the average resale price of Cape Royale ($2,248 psf) is trending above that of Marina Collection ($1,513 psf) and Seascape ($1,896 psf) (see Chart 2). Notably, the average resale prices of all three condos are above that of Turquoise ($1,370 psf).
Source: EdgeProp Market Trends (as at 1 September 2025)
Neighbours also report more unprofitable than profitable transactions
Since their launches, Marina Collection and Seascape have recorded more unprofitable than profitable transactions. Marina Collection reported 21 unprofitable and two profitable transactions, while Seascape recorded 24 unprofitable and one profitable transaction.
However, losses from all 21 unprofitable transactions at Marina Collection remained under $5 million, with the highest loss being $4.645 million (see Table 3). In contrast, Seascape reported two unprofitable transactions with losses exceeding $5 million.
Source: EdgeProp Buddy (as at 1 September 2025)
The highest loss of $6.6 million at Seascape occurred when the seller sold a 4,069-sq ft unit in February 2017 for $6.2 million ($1,524 psf). The seller had purchased the four-bedroom unit in June 2010 for $12.8 million ($3,146 psf).
The second-highest loss of $5.2 million resulted from a transaction in May 2015, when the seller sold a 4,133-sq ft unit in Seascape for $5.8 million ($1,403 psf). The unit had been purchased in December 2011 for $11 million ($2,661 psf). The same unit was also involved in another transaction in April 2021, when it was sold for $4.5 million ($1,089 psf), resulting in a smaller loss of $1.3 million (see Table 4).
Source: EdgeProp Buddy (as at 1 September 2025)
Trending below counterparts in District 4 and Central Region
Since 2018, the average resale price of 15-year old Turquoise ($1,370 psf) has trended below that of 99-year leasehold condos aged 11 to 20 years, located in District 4 ($1,760 psf) and the Central Region ($2,029 psf) (see Chart 3).
Interestingly, the average resale price of Turquoise has fallen by 15.1% since 2023, compared with a significantly smaller 7.4% decline for its counterparts in District 4. In contrast, the average resale price of similar condos in the Central Region inched up by 2.9%.
Source: EdgeProp Market Trends (as at 1 September 2025)
Conclusion
The loss of $2.357 million experienced by the seller of the subject unit in Turquoise is by no means small. However, it is not the highest loss recorded for the condo, which saw a record-high loss of $5.132 million in September 2018.
Thus far, 29 unprofitable transactions have been recorded for Turquoise. The main reason for these numerous unprofitable transactions is likely the overall price decline for the condo, which saw its average price drop by 47.3% since its launch in 2007. In comparison, Seascape has 24 unprofitable transactions and two were for losses exceeding $5 million.
As a result, Turquoise ($1,370 psf) may be a more affordable choice for homebuyers seeking to own a condo in Sentosa, as its average resale price is lower than that of neighbouring Cape Royale ($2,248 psf), Marina Collection ($1,513 psf) and Seascape ($1,896 psf). The average resale price of Turquoise is also trending below that of its counterparts in District 4 ($1,760 psf) and the Central Region ($2,029 psf).
To learn more about this transaction, and whether it is a good deal, click here.
Check out the latest listings for Turquoise, Seascape, Marina Collection, Cape Royale, Condominium properties
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