In this Stacked Pro breakdown:
Overview
We tracked the price movements of Costa Del Sol from its launch in 2000 up to 2024, and compared its performance to other 99-year leasehold condos in District 16, including neighbouring developments like Bayshore Park and The Bayshore. While most owners have seen gains, the returns (when measured purely by ROI) have been more subdued than expected. We also considered how upcoming changes in the Bayshore area could shift its future trajectory.
Key Insight
Despite its steady growth, Costa Del Sol’s ROI has been held back by its high launch prices and relatively isolated location in its early years. But with the Bayshore MRT now open, and an entire new estate with added amenities taking shape next door, its long-term outlook may soon look very different from its past.
Why This Matters
Costa Del Sol shows how ROI figures can miss the full picture. A condo may appear to underperform, only to benefit later from surrounding infrastructure upgrades. For buyers looking at older developments with solid fundamentals, it’s a reminder that future context, especially transport and amenities, can be just as important as past returns.
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When assessing a condominium’s investment potential, ROI is often the first metric buyers and owners turn to; but it doesn’t account for many of the less obvious factors to consider. Costa Del Sol, a prominent seaside development in the East, offers an instructive example.
Since its launch in 2000, it has delivered steady price growth, with most owners achieving healthy gains on resale. On the surface, its ROI appears respectable, but when compared against other condominiums in District 16, nearby older developments, and even islandwide averages, the numbers tell a more subdued story. And there is yet another twist to the story, with the new Bayshore housing estate potentially making future performance radically different. Here’s what to know:
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A brief profile of Costa Del Sol
Completed in 2003, Costa Del Sol is a 99-year leasehold condominium located along Bayshore Road in District 16. This is an almost mega-development-sized condo, with 906 units spread across several high-rise towers. It’s one of three condos along Bayshore Road (including Bayshore Park and the Bayshore), which are often collectively referred to as “the Bayshore condos.”
At the time of its launch, Costa Del Sol was positioned as a premium development for its location, commanding a higher price psf than most other 99-year leasehold projects in the district (see below). Like its two neighbours, it remained for a long period one of the few large condos along this stretch of East Coast Beach, although that’s likely to change with the upcoming new Bayshore estate.
ROI numbers are especially tricky when it comes to Costa Del Sol, as there are a number of factors that don’t show in the data.
Let’s start by looking at overall returns
| Year | Average $PSF |
| 2000 | $811 |
| 2001 | $821 |
| 2002 | $832 |
| 2003 | $886 |
| 2004 | $835 |
| 2005 | $679 |
| 2006 | $694 |
| 2007 | $860 |
| 2008 | $987 |
| 2009 | $955 |
| 2010 | $1,074 |
| 2011 | $1,202 |
| 2012 | $1,249 |
| 2013 | $1,285 |
| 2014 | $1,329 |
| 2015 | $1,215 |
| 2016 | $1,187 |
| 2017 | $1,188 |
| 2018 | $1,285 |
| 2019 | $1,280 |
| 2020 | $1,267 |
| 2021 | $1,402 |
| 2022 | $1,598 |
| 2023 | $1,681 |
| 2024 | $1,740 |
| Annualised | 3.23% |
Next, we’ll compare this to the overall market for 99-year leasehold condos, and then to other condos in District 16.
| Year | Costa Del Sol | 99y LH condos in D16 | All 99y LH condos |
| 2000 | $811 | $661 | $608 |
| 2001 | $821 | $548 | $488 |
| 2002 | $832 | $512 | $483 |
| 2003 | $886 | $453 | $479 |
| 2004 | $835 | $424 | $514 |
| 2005 | $679 | $454 | $540 |
| 2006 | $694 | $518 | $644 |
| 2007 | $860 | $689 | $885 |
| 2008 | $987 | $737 | $765 |
| 2009 | $955 | $732 | $788 |
| 2010 | $1,074 | $853 | $977 |
| 2011 | $1,202 | $1,059 | $985 |
| 2012 | $1,249 | $1,136 | $1,039 |
| 2013 | $1,285 | $1,350 | $1,163 |
| 2014 | $1,329 | $1,212 | $1,195 |
| 2015 | $1,215 | $1,158 | $1,104 |
| 2016 | $1,187 | $1,179 | $1,166 |
| 2017 | $1,188 | $1,228 | $1,230 |
| 2018 | $1,285 | $1,169 | $1,359 |
| 2019 | $1,280 | $1,096 | $1,474 |
| 2020 | $1,267 | $1,116 | $1,453 |
| 2021 | $1,402 | $1,183 | $1,517 |
| 2022 | $1,598 | $1,435 | $1,595 |
| 2023 | $1,681 | $1,605 | $1,783 |
| 2024 | $1,740 | $1,548 | $1,854 |
| Annualised | 3.23% | 3.61% | 4.75% |
At first glance, Costa Del Sol’s annualised growth of 3.23 per cent may seem underwhelming compared to the islandwide average of 4.75 per cent, or even the District 16 average of 3.61 per cent for 99-year leasehold condos.
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