Despair sale at ultra-luxury Seven Palms
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Seven Palms, the most luxurious condominium in Sentosa Cove, has been known for setting benchmark prices in Singapore’s foremost waterfront enclave. When the project was launched in 4Q2009, seven units were sold at prices ranging from $3,091 to $3,353 psf. In terms of absolute prices, these units, which ranged from three-bedroom apartments of 2,702 sq ft to four-bedroom units of 4,273 sq ft, went for $8.35 million to $13.9 million, according to caveats lodged.

The 41-unit luxury condo by SC Global Developments was the first condominium development in Sentosa Cove to see sales of its units cross the $3,000 psf price threshold. It also boasts several tycoons among its homebuyers.

In 2012, it was reported that Australian mining magnate Gina Rinehart spent $57 million for two units — a three-bedroom unit on the third floor and another three-bedroom unit directly above it on the fourth floor — with a total strata area of 13,500 sq ft. The transaction set a new record of $4,200 psf, breaking yet another price threshold for the 99-year leasehold development.

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Dumbfarks get what they deserved. D4 is an untested area.
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