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The lure of waterfront living and sweeping views of the Strait of Singapore have made District 4 a coveted residential enclave.
The area, which encompasses Keppel Bay, Mount Faber, Sentosa and Telok Blangah, is also popular with buyers due to its central location and accessibility to entertainment offerings such as Resorts World Sentosa and the VivoCity mall.
There are about 6,300 units in the vicinity, with prime homes on Sentosa Island and HarbourFront comprising 60 per cent of the total.
The proximity of projects in Sentosa and HarbourFront to the sea means they command a price premium over other developments in the vicinity. For example, average prices of homes at the Marina Collection on Sentosa are about $2,900 per sq ft (psf), while units at Corals at Keppel Bay go for about $2,000 psf.
However, property cooling measures and the Total Debt Servicing Ratio framework introduced in late June have whittled down demand for homes on Sentosa.
Developers IOI and Ho Bee have decided to rent out units at the recently completed Cape Royale on Sentosa instead of selling them.
Based on the number of page views on property portal STProperty from April to September, The Interlace emerged as the most popular project, while Reflections at Keppel Bay and Caribbean at Keppel Bay came close.
Source: Straits Times 9th November 2013