SINGAPORE — Nearly two-thirds of Sentosa Cove properties changed hands at a loss in the last three years, while resale gains on profitable transactions shrank by some 60 per cent, research by analysts showed.Landed homes seem to fare slightly better than condominiums, with roughly half of landed resale deals closing above water since 2023.Sentosa is the only place in Singapore where foreigners can buy a landed property, subject to approval from the Government. Capital values of the 99-year-leasehold homes built on Sentosa have long trailed those of properties on the mainland.Several factors, from accessibility to pricing, explain its niche demand.But, since 2023, steep increases in stamp duties for foreign buyers have curtailed demand for the luxury homes on the island, heavily promoted from the start as a playground for the wealthy. Data compiled by Mogul.sg, covering landed and non-landed homes, showed that 64.5 per cent of resale transactions between May 2023 and June 2026 were unprofitable, up from 62.8 per cent between March 2020 and April 2023.  Read more