Signs of upswing in Sentosa property market

Singapore

A NASCENT recovery in Singapore's housing market is showing signs of reaching Sentosa, a tiny isle off the southern tip of the country that is both a playground for partying Singaporeans and home for rich expatriates.

Measuring just five sq km, Sentosa is a niche market. Offering a resort lifestyle just a bridge away from the city, Sentosa is the only place in Singapore where foreigners can buy landed property.

Once a Malay graveyard and a British military base in the colonial period, Sentosa was developed as a tourist attraction in the 1970s, when it was enlarged through land reclamation to merge with two neighbouring islets.

It was during the 2000s, when the government actively sought to persuade Asia's jetsetters to take up residence in Singapor…