You may or may not have heard of Seven Palms.

It's a condominium complex situated in Sentosa Cove.

It is super exclusive despite its status as a condominium, with only 41 units available in the complex.

Here it is.

Which means two things.

It has a really nice view, and it's super duper expensive.

It's still super duper expensive, but perhaps some flats are a little less so than others.

4 million dollar loss

One of the units has been recently been placed for sale at a cool S$12 million.

Which is a massive amount of money, but it also represents a massive amount lost.

See, the property was bought a few years back for an even cooler sum of $16 million.

Which might represent a $4 million loss, which is basically 10 relatively fairly priced 4-room HDB flats in the suburbs.

Other losses

Despite the rather startling decrease in asking price, according to a source, this isn't indicative of the market in general, but rather just individual circumstances.

Another individual who experienced a loss during their Sentosa Cove resale is City Harvest Church founder Kong Hee.

According to The Straits Times, his Sentosa Cove property was sold at a loss of over S$2 million.

Image from sevenpalms.com