Cape Royale stands at the entrance of Sentosa Cove’s marina waterfront, occupying one of Singapore’s most coveted island addresses along Cove Drive in District 4. Jointly developed by Ho Bee Land and IOI Properties through their Pinnacle (Sentosa) joint venture, the project obtained its TOP in 2013 and delivers 302 large-format residences spread across eight towers. At a time when most Singapore condominiums are becoming denser and smaller, Cape Royale went the opposite direction: sprawling 3- and 4-bedroom apartments begin at roughly 1,600 sq ft, and the flagship penthouses exceed 4,600 sq ft. Resale prices have settled in the S$2,100–S$2,950 psf band as of mid-2026, translating to absolute ticket sizes of approximately S$3.4 million for a 3-bedroom entry unit and north of S$10 million for a penthouse. With only 116 recorded transactions since launch and a deeply illiquid secondary market, Cape Royale is a niche, conviction-driven buy — one that rewards buyers who understand exactly what Sentosa Cove offers and what it demands. District 4 as a whole encompasses Harbourfront, Telok Blangah and the Southern Islands, and Cape Royale represents the apex of that address hierarchy.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
Sentosa Cove is Singapore’s only integrated waterfront residential precinct where foreigners may purchase landed houses — a statutory exception carved out under the Residential Property Act that applies nowhere else on the mainland. For non-landed strata titles like Cape Royale, foreigners have always been eligible to buy under the same rules as any private condo, but the Sentosa Cove ecosystem gives the address an added dimension: the precinct’s berths, the One°15 Marina Club, and the island’s leisure infrastructure create a lifestyle that is internationally legible in a way few Singapore addresses can match. That foreign-friendly status carries a significant cost today: since April 2023, non-FTA foreign purchasers pay a flat 60% Additional Buyer’s Stamp Duty (ABSD) on any Singapore residential property, including Cape Royale. Citizens of the United States, Iceland, Liechtenstein, Norway and Switzerland are exempt from ABSD on a first purchase under Singapore’s Free Trade Agreement remissions, per IRAS guidance. All other foreign buyers must account for ABSD on top of Buyer’s Stamp Duty when modelling total acquisition cost — on a S$4 million unit, that is roughly S$2.4 million in ABSD alone before BSD. Singapore Permanent Residents purchasing their first residential property pay 5% ABSD, while Singapore Citizens buying a second property pay 20%. Use the stamp duty calculator to stress-test acquisition costs under different buyer profiles. The lease commenced in 2008, leaving approximately 81 years as of 2026 — still comfortably above the 60-year threshold that triggers valuation haircuts from most Singapore banks, though buyers should model lease decay trajectories for a 15–20-year holding horizon.
We track 116 sales and 756 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the CAPE ROYALE dashboard.
- Average sale price: $5,196,444 across 116 transactions
- Estimated gross rental yield: 2.9%
- District 4 PSF ranking: Premium tier (top 15%)
- 99 yrs lease commencing from 2008 · CCR · D4 · 302 units
About CAPE ROYALE
CAPE ROYALE is a 99 yrs lease commencing from 2008 condominium, located at COVE WAY in District 4 (Telok Blangah, Harbourfront) (Core Central Region), developed by PINNACLE (SENTOSA) PTE LTD, comprising 302 residential units, completed in 2013.
With approximately 81 years remaining on its 99-year lease, the property qualifies for full bank financing and CPF usage.
Unit Mix Distribution
Transaction data breakdown by bedroom type at CAPE ROYALE:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 4 BR | 27 | $2,137 psf | $3,622,427 |
| 5+ BR | 89 | $2,245 psf | $5,673,955 |
Sales Market Overview
CAPE ROYALE has recorded 116 sale transactions with an average transaction price of $5,196,444, ranging from $3,528,000 to $11,021,600.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2022 | 46 | $2,195 psf | $5,132,448 | — |
| 2023 | 42 | $2,222 psf | $5,162,295 | ↑ 1.2% |
| 2024 | 15 | $2,258 psf | $4,935,903 | ↑ 1.6% |
| 2025 | 13 | $2,256 psf | $5,833,843 | ↓ 0.1% |
CAPE ROYALE ranks in the top 15% of condos in District 4 by average PSF.
Compared to the CCR average of $2,447 psf, CAPE ROYALE trades 9.3% below the segment benchmark.
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Rental Market Overview
CAPE ROYALE has recorded 756 rental transactions with monthly rents averaging $12,580/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 3 BR | 460 | $9,877/mo | $6,500/mo | $18,000/mo |
| 4 BR | 291 | $16,409/mo | $10,000/mo | $30,000/mo |
| 5+ BR | 5 | $38,400/mo | $34,000/mo | $42,000/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 186 | $9,837/mo |
| 2022 | 138 | $12,748/mo |
| 2023 | 169 | $13,905/mo |
| 2024 | 120 | $13,288/mo |
| 2025 | 111 | $13,982/mo |
| 2026 | 32 | $13,275/mo |
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Investment Analysis
Based on average rents and sale prices, CAPE ROYALE delivers an estimated gross rental yield of 2.9%. This is below the 3% benchmark, suggesting stronger capital appreciation potential.
Competing Condos in District 4
Side-by-side comparison against the most actively traded condos in District 4 (Telok Blangah, Harbourfront):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| REFLECTIONS AT KEPPEL BAY | 99 yrs lease commencing from 2006 | 1129 | $1,736 psf | 365 |
| THE INTERLACE | 99 yrs lease commencing from 2009 | 1040 | $1,469 psf | 242 |
| CARIBBEAN AT KEPPEL BAY | 99 yrs lease commencing from 1999 | 969 | $1,764 psf | 209 |
| THE REEF AT KING'S DOCK | 99 yrs lease commencing from 2021 | 429 | $2,469 psf | 173 |
| THE RESIDENCES AT W SINGAPORE SENTOSA COVE | 99 yrs lease commencing from 2006 | 228 | $1,804 psf | 113 |
Location Map
Map shows CAPE ROYALE (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- CAPE ROYALE
Cape Royale’s primary asset is irreplaceable geography. The development hugs the southwestern shoreline of Sentosa Cove, and the higher-floor units in the seaward blocks command 180-degree unobstructed views across the South China Sea toward the Southern Islands and, at night, the glow of Indonesia’s Batam and Bintan. Unlike mainland CCR towers where “sea view” can mean a sliver of water glimpsed between other buildings, Cape Royale’s frontage is genuine open-water exposure. The facilities programme matches the address: an ocean-facing infinity pool, a separate serenity pool, a children’s wading pool, eco ponds, gymnasium, yoga deck, and function rooms are all configured around the waterfront rather than squeezed between towers. Unit sizes are another differentiator. In an era when new-launch CCR units routinely shrink to stay under headline price thresholds, a 3-bedroom at Cape Royale delivers 1,600–1,800 sq ft of actual living space, enough for a family with live-in domestic help. The developer pedigree is strong: Ho Bee Land has built much of Sentosa Cove’s most recognisable inventory and has a track record of maintaining build quality over time. The low unit count — 302 units across eight towers — contributes to a genuine sense of exclusivity and typically yields manageable maintenance fee levels relative to mega-developments. On the rental side, the expat and diplomatic community that gravitates toward Sentosa Cove has historically sustained gross yields of approximately 3.1% with monthly rents ranging from S$10,000 to S$49,800 depending on unit type and floor. For buyers comfortable with the Greater Southern Waterfront thesis — ongoing HarbourFront and Pasir Panjang waterfront regeneration, the planned Circle Line integration, and long-run tourism infrastructure — Cape Royale sits directly in the path of that uplift. You can compare Cape Royale against other CCR condominiums to benchmark psf positioning relative to peer waterfront projects.
Cape Royale is not a risk-free proposition, and buyers should enter clear-eyed about three structural challenges. First, connectivity remains car-dependent. There is no MRT station within walking distance of Sentosa Cove; residents rely on private transport, taxis, or the Sentosa Express (which terminates at VivoCity, requiring a further connection). For families with school-going children or working professionals who commute daily, this is a material lifestyle friction. Second, lease tenure is a live consideration. The 99-year lease from 2008 means the asset crosses below the 70-year mark around 2037 and below 60 years — a common bank financing threshold — around 2047. Buyers who plan a 20-year hold and then re-sell will be transacting a property with approximately 61 years remaining, at which point CPF usage is restricted and loan-to-value ratios tighten. Run the lease decay calculator to model how this affects future resale proceeds. Third, foreign ABSD significantly distorts the buyer pool. The 60% ABSD rate has effectively removed most non-FTA foreigners from the market; while this has not caused a price collapse — the Sentosa Cove market is dominated by ultra-high-net-worth buyers who may be less rate-sensitive — it has thinned transaction volumes sharply, adding to liquidity risk. The Sentosa island levy (approximately S$6 per entry for non-residents) and comparatively higher maintenance fees are secondary but real carrying costs. Finally, the development’s 116 recorded transactions since launch speak to very thin secondary market activity, which cuts both ways: scarcity can support pricing but also means achieving a sale quickly at fair value requires patience.
- ✅ Ultra-HNW foreign national (US / Swiss / FTA citizen): FTA ABSD remission eliminates the 60% surcharge on a first purchase, making the total acquisition cost comparable to a Singapore Citizen buying a second property. Genuine waterfront address, large floor plates, and foreigner-permissible title make Cape Royale a logical choice for global principals seeking a Singapore bolthole with real resort credentials.
- ✅ Singapore Citizen or PR purchasing sole or second property: For a citizen buying a first property the stamp duty burden is BSD-only; for a second-property buyer the 20% ABSD is significant but manageable relative to the asset quality. The expat rental pool is deep enough to cover carry costs while the Greater Southern Waterfront thesis matures.
- ⚠️ Expat family on EP relocating for 3–5 years: Cape Royale is an outstanding rental home — space, pools, and island lifestyle are unmatched. However, car-dependency and limited proximity to international schools in Buona Vista / Dover require a vehicle budget. Renters avoid the ABSD question entirely and can exit cleanly at lease end.
- ⚠️ Singapore Citizen first-time buyer with a S$4M budget: A 3-bedroom entry unit is attainable at S$3.4M–S$3.8M but the location premium delivers lifestyle rather than yield or liquidity. First-time buyers who prioritise near-MRT convenience or a shorter commute may find better value in mainland CCR or RCR options. Use the affordability calculator and total cost calculator to compare scenarios.
- ❌ Investor seeking short-term capital gain (under 5 years): The combination of thin transaction volumes, Seller’s Stamp Duty on disposals within 3 years, and a buyer pool reduced by ABSD makes short-horizon flipping hazardous. Cape Royale rewards patient, long-term holders rather than traders. Model exit costs carefully with the ROI calculator.
Cape Royale is one of those rare Singapore addresses where the superlatives are earned rather than invented. The waterfront position, the South China Sea views, the genuine resort-scale facilities, and the foreigner-friendly title structure combine to create an asset that has no direct substitute on the Singapore mainland. For the right buyer — an FTA national, a Singapore Citizen or PR with a long holding horizon, or a high-net-worth expat family seeking a home that delivers an island-resort experience within the city — Cape Royale justifies its pricing. The risks are real: car-dependency, a 99-year lease that will demand careful structuring over a 20-year hold, and a thinned buyer pool post-ABSD 2023. These are knowable and manageable risks rather than hidden ones. Buyers who enter with open eyes, a strong balance sheet, and a 10-year-plus perspective are buying one of the most distinctive addresses in Southeast Asia. Those seeking liquidity, MRT convenience, or a quick appreciation play should look elsewhere. If you are seriously evaluating Cape Royale, run the numbers through the mortgage calculator, stamp duty calculator, and cash flow calculator before proceeding, and engage both a licensed financial adviser and a CEA-registered property consultant familiar with Sentosa Cove’s specific regulatory framework.
FAQ
What is the average price for CAPE ROYALE?
What is the rental yield for CAPE ROYALE?
Is CAPE ROYALE freehold or leasehold?
How does the 99-year leasehold affect financing and future resale?
The lease commenced in 2008, leaving approximately 81 years as of 2026. At this tenure, conventional bank financing remains fully available and CPF usage is unrestricted for most buyers. However, as the lease shortens toward 60 years (approximately 2047), banks typically tighten loan-to-value ratios and CPF usage becomes restricted under HDB and CPF Board rules. For buyers planning a 20-year hold before resale, the property will have approximately 61 years of lease remaining at exit — still financeable but with a narrower buyer pool. The lease decay calculator can help model how progressive tenure shortening affects future valuation and CPF usability.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA.
- Sales data: 116 transactions analysed
- Rental data: 756 lease records analysed
- Gross yield = (avg monthly rent × 12) / avg sale price
Median values used to minimise outlier impact. PSF = price per square foot.
View Live Data for CAPE ROYALE
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.
New Sale vs Resale Mix
Of the 303 condo transactions recorded in District 4 over the last 12 months, 91% resale, 9% sub sale. A resale-heavy mix points to an established market trading on fundamentals; a new-sale-heavy mix means developer launches are setting the price benchmarks.
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Price Index Check
The ShiokNest Price Index for District 4 reads 89.8 as of March 2026 — up 2.4% year-on-year. The index tracks repeat-sales price movement, so it is less distorted by shifts in what happens to be transacting than a raw average PSF.
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