Celebrity hairstylist Addy Lee spends three weeks every month abroad, primping the coiffures of the rich and famous.

But whenever the CEO of Monsoon Hair Group is in Singapore, you will find him hanging out at his swanky Sentosa Covepad.

His three-room apartment sits within Singapore’s resort-playground for the rich. It is where supercars – Lamborghinis, Ferraris, Bentleys and Porsches – adorn the driveways of avant-garde bungalows, and where luxury yachts bob in the sea mere metres away.

Now he has another claim to fame: His neighbour at The Oceanfront condominium is Kong Hee.

The pastor of City Harvest Church has been in the news lately for allegedly misappropriating church funds.

He, along with four other senior members of the church, face three or more charges levelled by the prosecution, involving about $50 million in total.

They allegedly diverted a portion of the church’s building fund to further the music career of Ms Ho Yeow Sun, Kong’s wife.

Did he know about his famous neighbour? Mr Lee, 41, seemed surprised, explaining that he was not aware that they were living in the same estate.

They have never crossed paths at Sentosa Cove, even though he has known Ms Ho for more than 10 years, he tells The New Paper on Sunday over the phone from Shanghai, where he is involved in the filming of a TV programme.

They first met before she embarked on her singing career. She visited his salon to get her hair done, he says, declining to go into detail.

The Cove is quiet and serene, exuding luxury and exclusivity.

Palm trees flank wide roads between multi-storey mansions. Pristine-looking yachts dot a central marina, adding to the opulent ambience.

Sentosa Cove is the only address in Singapore which allows you to berth your yachts next to your own backyard.

Fancy taking a canoe out for a paddle on those sparkling green waters? Yes, you can. A cruise on your own yacht to the southern islands? Hop aboard.

A 10-minute boat ride will take you to the southern islands, which include St John’s, Kusu and Lazarus Islands.

Even without a yacht, life here is idyllic. Picture spectacular sunsets while you take slow walks along stone breakwaters by the sea.

Mr Lee swoons over the resort lifestyle that Sentosa Cove offers, especially the sea view from his balcony.

“The moment I open my window, I can see the sea, and it makes me very happy,” he gushes. “I’ve recently discovered the amazing sunsets I get.

“I feel very safe and peaceful living here. It gives me a lot of ideas for my work and businesses.”

The hairstylist is not alone in falling for the development, which is so exclusive it does not show up on Google’s Street View, a technology featured in Google Maps and Google Earth that provides panoramic views of many streets in the world.

Australian-born Stephen Fisher, who has lived in Sentosa Cove since April 2009, is also smitten.

The hedge fund manager at First Degree Global Asset Management upgraded from his 3,000 sq ft condo in Grange Road for a little slice of heaven on the island.

“For the same price (as a condo in Grange Road), I could get a house on the sea front,” says the 47-year-old Singapore permanent resident. He lives on the leasehold property with his wife and their two children, aged one and three.

He bought the 7,800 sq ft plot of land for $3.5 million in 2005 and spent $2.4 million on the construction of the 5,800 sq ft house.

Recently, popular tech site Gizmodo named the two-storey house, dubbed the Fish House, one of the top five most relaxing homes in the world.

Mr Fisher, who has lived in Singapore for 12 years, was not aware of the accolade until he was contacted by The New Paper on Sunday.

“But we are not surprised. The home was built for living in, not a showcase,” he says.

“Water plays a big part in the design and we swim every day. We all laughed when we read the Gizmodo rating.

“Where else can you live in a resort yet be 10 minutes from the CBD (Central Business District)? There are times when we don’t leave the island for days.”

His environmentally-friendly home, designed by Singapore- based firm Guz Architects, won the Architectural Design Awards organised by the Singapore Institute of Architects in 2010.

Visitors to the home are often awed by the natural ventilation in the open-concept structure. It opens directly to the waterfront and comes with a sea-facing infinity pool.

The house consists of two wood and glass pavilions – one with the living quarter and the other, the sleeping quarter – linked by a bamboo walkway on the second storey.

It also boasts an underground audio-visual room encased in 12.7cm-thick acrylic walls, which offer an underwater view of the swimming pool.

Said Mr Fisher: “I used to live in upstate New York, in the snowbelt area, and hated the cold weather. I felt we should take advantage of Singapore’s tropical environment.” He and his wife love the property so much that they cut short their Bali honeymoon in 2009 by two days just to be home.

Indeed, the appeal of a home in Sentosa Cove lies in the exclusivity and the lifestyle it offers, say property experts contacted by The New Paper on Sunday.

ERA Realty Network’s key executive officer Eugene Lim said: “A Sentosa home is a status symbol. It’s sort of a must-have if you are one of the who’s who.”

The high level of privacy at the gated community is another factor.

A downside though, is the lack of amenities such as supermarkets and limited dining options, near the homes.

Residents either do their grocery shopping on the mainland – the nearest being VivoCity – or they get groceries delivered to their doorstep. For dining outlets, the nearest are those located atONE°15Marina Club.

But Singaporeans thinking of buying a property here for investment should give it some thought, cautioned MrEric Cheng, chief executive of ECG Property.

“As of December last year, buyers of Sentosa Cove units have to pay an additional 10 per cent stamp duty, so I would say that it takes more time now to get a genuine buyer.

“Those hoping to sell must be vigilant to actual market conditions, not base their asking prices on the extreme highs reported in the news alone.”

Would Mr Fisher ever move out of his current place to live elsewhere in Singapore?

He says: “Well, my wife would like to be closer to the (outlets that carry Alexander McQueen)in Orchard but I couldn’t move back there to live.

“My next door neighbour and I both get physically sick setting foot in Orchard with all the congestion and diesel fumes. We would just rather sit here and watch the boats go by.

“I suppose I would move if someone offered me a lot of money but I’m hoping they don’t.”

Full-time national serviceman Weng Yew, who is in his 20s and also lives at Sentosa Cove, agrees.

“As you drive in, it feels a little bit like Beverly Hills in Los Angeles because the roads are so wide and spacious,” hesays.

“It’s quiet, peaceful, and there’s the sea breeze. I bring my dogs – a labrador and a mongrel – for walks by the sea every Sunday.”

Mr Weng, who is in his 20s, has been living in Sentosa Cove for the past five years with his parents, who run their own business, and his sister.

There are other perks that would make partygoers envious.

“The Cove is linked to Tanjong Beach by a back gate, so I don’t have to be part of the crazy traffic jams whenever ZoukOut rolls around,” he says.

Previously, he lived in a terrace and bungalow, before moving to the current four-room condominium unit overlooking the swimming pool.

“My parents felt the previous homes were a little spacious, especially since my sister and I are out quite often,” he explains.

“It’s a nice place to hang out. Sometimes I take them out for a ride on our yacht to the Southern Islands, or we just park it in the middle of the sea for a while and jump in for a dip,” he says.

But nothing beats taking long walks with his girlfriend around the area.

“Kissing by the beach – that’s a real perk of living here,” he says with a grin.

Sentosa Cove at a glance

Total land area 117 ha (equivalent to 145 football fields)

Leasehold: 99 years

Number of homes

By 2014, 2,160 homes, comprising a mix of ocean-front villas, waterway bungalows, hillside mansions, terraces and condominiums, are expected to be completed.

The North Cove has been fully developed. In the South Cove, another 34 landed units are expected to be built.

In addition, two new condominiums – Seven Palms and The Pinnacle – are under construction and slated for completion in two years.

Number of residents: About 4,500.

Profile of homebuyers

From January last year to the present - 48 per cent are Singaporeans or permanent residents, down from 64.1 per cent, who bought between 2005 and 2007.

- 48 per cent are foreigners, up from 25.3 per cent from 2005 to 2007.

- 3.9 per cent are companies, down from 10.4 per cent from 2005 to 2007. Yacht owners

15 per cent of waterway households own yachts which are berthed in their backyards. Some residents also berth their boats at ONE°15 Marina Club.

How much per sq ft?

Landed property: $2,134.50 as of Q1 this year, up from $1,574.56 in 2009.

Non-landed property: $2,418.33 as of Q1 this year, up from $1,691.09 in 2009.

Most expensive landed property sold

What: A 16,000 sq ft detached house on Cove Drive. It is said to have five bedrooms and an entertainment room.

When: February

How much: $39 million .

Who: Previously owned by Citi Private Bank chairman Deepak Sharma and his surgeon wife, Dr Susan Lim. It was sold to Mr Shael Oswal, a 33-year-old Indian mining mogul.

Most expensive non-landed property ever sold

What: A unit at Turquoise Condominium

How much: Sold for $18 million

When: December 2007

In the first three months of this year, only five units changed hands. Last year, 79 units changed hands, down from 203 units in 2010 and 169 units in 2009.

Click here to view the photos of some Sentosa Cove properties.

Photos: ST, BT, TNP, Shin Min, Sentosa Cove, Reuters

Sources: SLP International research head Nicholas Mak and Sentosa Cove Resort Management.

This article was first published in The New Paper.