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.
Image from sevenpalms.com
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
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