Cape Royale
Cove Way · District 04 · Core Central Region (CCR) · 99 yrs lease commencing from 2008
Cape Royale is a condominium development in District 04 (CCR). Based on 117 URA-recorded transactions from 2022–2026, its median price is $5,471,300, with prices moving about -0.3%/yr and a gross rental yield near 3.2%.
The verdict · for an investor
Cape Royale · Condominium · District 04 · Leasehold
Cape Royale is a mixed picture — a real case, with real caveats.
There's a genuine case here, but weigh the caveats below before you commit — the fundamentals and the record don't all point the same way.
Why it's pushing up
What matters most for you
- Convenient — MRT about 62 min on foot; 2 supermarkets nearby.
- Rentable — ~3.2% gross yield.
And what makes it better
- Inside Greater Southern Waterfront — a government-committed long-term catalyst.
What's holding it back
- The 5-bed has lagged (−1.1%).
- MRT is a real walk — Harbourfront MRT, about 62 min.
- No Primary-1 priority school within 1km.
Should I buy?
There's a case — weigh the caveats first.
Rental yield
gross, on this project
Priced vs nearby
you pay for the fresh lease and the spot.
Independent research, not advice. A fair price still isn’t automatically a good buy — the call is always yours.
Pick your exact unit — then check your price
Your unit’s exact size
Every real size that has sold here (URA caveats). Pick yours — or the closest.
What 2,508 sqft (large / penthouse) units go for here
The price they’re asking
Type the price they’re quoting — we’ll judge it against what this exact size really sold for. No opinion until you do.
Recent 2,508 sqft sales
What it rents for — and if that works
The rent you’d get
The price to fight for — and the endgame
No agent, no listing, no one paying us — so we’ll say it plainly, whichever side of the table you’re on, for the size you picked.
If you’re buying
≤ $5.66M
Aim at the middle or below. A patient buyer has been getting closer to $5.46M.
If you’re selling
~$5.90M
List at the top of fair; realistic close is $5.66M–$5.72M unless it’s a high floor.
Why no rush either way: Seller’s Stamp Duty means a buyer can’t sell penalty-free for ~4 years — so you’re holding regardless. That’s your leverage to negotiate down now, not overpay.
The reality check — does the gain even make sense?
Our blunt read: ~$1.95M over 10 years at this project’s own pace. It works — but forward from a cycle top, treat it as a maybe, not a promise. This is our own POV, not a forecast — the pace is the project’s own (~3.0%/yr), and past pace never promises the future.
Built from URA transactions for Cape Royale — an opinion to decide and negotiate with, never a valuation and never financial advice.
If you’re buying — the outlook
Cape Royale
Core Central Region (CCR) · District 04 · ~$2,148 psf · 3.2% yield
Prices are near the top of the cycle, and the government is still cooling it — but cheap loans, steady immigration and rising rents are holding them up. For Cape Royale, its own prices have been flat lately. Over a 4-year hold, expect sideways-to-modest — not a big jump.
On balance, the wind is roughly even.
What it means for you: At ~$2,148 psf, Cape Royale is priced a bit above similar new projects nearby (~18% up) — you're paying a premium. But its own prices have gone flat (~-0.3%/yr over ~4 years). At this prime end foreign buyers are taxed out, so demand is thin — the seller may be more stuck than you are. So — push hard on price — this is a buyer's situation. If the seller won't move, walk; there's no rush.
The signals behind it
Dots show how much weight each one carries.
Holds prices back
Prices are near the top — up 33% in 5 years, well above the 4.6%/year long-run pace. Less room left to climb.
Holds prices back
Cape Royale's own prices have softened — about -5% in the latest year.
Supports prices
The prime districts (CCR) lagged the others since 2004 — more room to catch up.
Holds prices back
The government is still cooling the market — the latest was SSD back to 4 years at 16/12/8/4% (2025). That caps how fast prices can run.
Supports prices
Loan rates are cheap right now (~1.08%) and falling. Easy to carry — which supports prices, but also means more buyers competing with you.
Supports prices
Against salaries, prices aren't expensive by past standards — people can still afford to buy.
Supports prices
Lots of new people keep moving to Singapore (non-residents up ~16% over 5 years) — steady demand for homes and rentals.
Holds prices back · small effect
The government keeps releasing a lot of new land (~9,200 units this half-year) — more future supply that can weigh on prices years down the road.
Holds prices back
Foreign buying has collapsed since the 60% tax — only ~1.4% of buyers now. For the prime market you're looking at, that's a real missing piece of demand.
Supports prices
Rents at Cape Royale are up ~5% over the last couple of years — good if you're renting it out.
Supports prices · small effect
There's more CPF money sitting ready to put toward a home than a few years back — a small support in the background.
Supports prices · small effect
The economy is growing (5% last year) and jobs are steady (1.9% unemployment) — no alarm bells.
Supports prices · small effect
Building costs are high (up ~39% since 2010) and still creeping up — developers can't build cheap, which puts a floor under new-launch prices.
Built from real public data (URA price index back to 1975, plus rates, immigration, rents, the economy). It prepares you — it never promises a price.
Median price
$5,471,300
2022–2026 (URA)
Appreciation
-0.3%/yr
median trend
Gross yield
3.2%
~$5.78/psf rent
Lease
~81 yrs left
leasehold
Cape Royale median price per sqft, by year
Median PSF of actual URA transactions each year, with year-on-year change.
Does Cape Royale fit your budget?
GrowKaki models the real take-home — net of stamp duty, agent fee, mortgage interest and CPF — for the exact unit your budget reaches, then hands you to an agent when you’re ready.
Plan your purchase →Units for sale at Cape Royale
Questions people ask about Cape Royale
Is Cape Royale freehold or leasehold?
Cape Royale is on a 99-year lease that began in 2008, so about 81 years remain. It sits in District 04 (Core Central Region (CCR)).
How much does Cape Royale cost per square foot?
Recent transactions at Cape Royale are around $2,148 psf. Across its record, transacted prices range from $3,528,000 to $11,021,600.
Has Cape Royale gone up in value?
Across 117 URA-recorded transactions (2022–2026), prices at Cape Royale have moved about -0.3% a year on average, with a gross rental yield near 3.2%. That is a past record, not a forecast.
What condos are comparable to Cape Royale?
Within a short walk: Seascape, The Oceanfront @ Sentosa Cove, The Coast At Sentosa Cove, The Residences At W Singapore Sentosa Cove. These are the honest yardstick for its price and growth — closer and more alike than any whole-market average.
Is Cape Royale a good buy?
Cape Royale sits in Core Central Region (CCR). Whether it is right for you depends on your budget, purpose and holding period — GrowKaki models the net take-home after stamp duty, agent fee and CPF. This is independent research, not advice, and a fair price is not automatically a good buy.