Sentosa Cove bungalow on sale for S$39 million, all 5 offers from non-local buyers

Expen$ive.

Winnie Li | March 23, 2023, 12:12 PM

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A TikTok showing a waterway-facing bungalow with an impressive collection of luxury bags and accessories at Sentosa Cove has attracted plenty of attention with the ostentatious displays of wealth.

@propbang Last offer $33million house in Sentosa cove. Hidden treasure! #luxuryhomes #rich #singapore #properties #viral #money #luxurybag #hermes #birkin #propbang #learningisfun #property #singaporeproperty #sgrealestate #sgproperty ♬ Epic Music(842228) - Pavel

According to the video, the house is on sale for S$39 million.

The collection itself is worth more than S$10 million -- which is not included in the home price.

Besides housing an entire closet of luxury bags, accessories, watches, and shoes, the spacious property also comes with an underground garage that can fit six cars, a private swimming pool, and space to anchor a yacht.

Overall, the bungalow covers an area of ​​about 10,000 sq ft and a floor area of ​​12,000 sq ft, reported Shin Min Daily News.

Image via Shin Min Daily News

The agent for the property, Lester Chen, told Shin Min that the property has been up for sale for S$39 million since December 2022, and it has already received five bids.

The highest offer was S$33 million.

However, the property is currently still available as the bids fell short of the owner's ideal selling price.

Price excludes luxury collection

In the comments section of the TikTok, many users expressed their amazement at the owner's luxury collection and her wealth.

Screenshot via Tik Tok

One commenter also quipped that the owner must suffer from a headache every day from picking out an outfit and accessories from her gigantic inventory.

Screenshot via TikTok

However, some commenters also questioned the necessity of mentioning the total value of the owner's luxury collection if it would not be sold together with the house.

Screenshot via Tik Tok

In response, Chen clarified with Shin Min that the house price does not include the bags, and the owner does not intend to sell them.

"Even though there are buyers who want to purchase them together with the property at a high price, [the owner doesn't plan on selling her collection because] some of these bags are very difficult to buy even if you have the money. The bags are the owner's treasure," explained Chen.

Most offers from wealthy Chinese buyers

Chen also revealed that there are five groups of potential buyers currently bidding for the property, and none of them is local.

The property agent also confirmed that most of the bidders are wealthy buyers from China.

It is not surprising that Chinese buyers are offering to purchase the property as Sentosa Cove is the only place in Singapore where a foreigner, who is not a Singapore permanent resident, may buy a landed property.

All properties in Sentosa are also on 99-year leasehold tenures.

Top images via Propbang/Tik Tok