A three-bedroom penthouse at Orchid Mansion, a freehold development located in District 15, was recently sold on Dec 31 for a profit of $2.58 million, making it the most profitable resale transaction from Dec 31, 2024 to Jan 7, 2025. The 2,842 sq ft unit, situated on the 21st floor, was purchased for $4.88 million ($1,717 psf). It was previously bought for $2.3 million ($809 psf) back in March 2009. This translates to an annualized profit of 4.9% over a span of nearly 16 years. This sale has also set a new record for the most profitable resale transaction at Orchid Mansion, surpassing the previous record of $1.15 million (72.6%) when a 1,507 sq ft three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf) in July 2022. That unit was previously purchased for $1.58 million ($1,050 psf) in June 2007.Read also: Resale four-bedder at The Arcadia records $3.25 mil profit
Located at 11 Amber Road, Orchid Mansion is a 20-year-old development comprising a 21-storey residential tower with a mix of two- and three-bedroom units ranging from 1,346 sq ft to 2,002 sq ft. The development also features two penthouses, measuring 2,842 sq ft and 2,734 sq ft respectively.
The second most profitable resale transaction for the week was recorded at Villa Marina, where a ground floor three-bedroom unit measuring 1,625 sq ft was sold for $2.35 million ($1,446 psf) on Jan 3. The unit was originally purchased for $630,500 ($388 psf) back in September 2006, resulting in a profit of $1.72 million (273%). This translates to an annualized profit of 7.6% over the span of 18 years. This sale has also surpassed the previous record for the most profitable resale transaction at Villa Marina, which was set when a 1,916 sq ft unit on the fourth floor was sold on July 16 last year for $2.3 million ($1,200 psf). That unit was previously purchased for $720,416 ($376 psf) in November 1998.
Villa Marina is a 99-year leasehold development situated at Jalan Sempadan in District 15. Completed in 1999, the development consists of 27 low-rise residential blocks featuring a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The 460,685 sq ft site is in close proximity to Masjid Kampong Siglap mosque, Siglap MRT station on the Thomson-East Coast Line, East Coast Park and several primary schools, including Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School and Tao Nan School.
Singapore’s cityscape is characterized by towering structures and state-of-the-art facilities. Condos, strategically situated in sought-after locations, offer a perfect fusion of opulence and practicality that appeals to both locals and foreign residents. These condominiums are accompanied by top-notch amenities like pools, fitness centers, and security services, elevating the overall standard of living and making them a desirable choice for prospective renters and purchasers. From an investor’s standpoint, these desirable perks equate to higher rental returns and appreciation in property value over time. With the addition of Condos, the urban landscape of Singapore is elevated to a whole new level.
On the other hand, the most unprofitable resale transaction for the week was recorded at Marina Bay Residences, where a 1,130 sq ft unit on the 17th floor was sold for $2.1 million ($1,858 psf) on Jan 2, resulting in a loss of $386,000 (16%). The unit was originally purchased for $2.49 million ($2,200 psf) in November 2007, translating to an annualized loss of 1% over the span of 17 years.
Marina Bay Residences recorded 25 resale transactions last year, with 13 of them being unprofitable, ranging from losses of $1.25 million to $43,600. The most unprofitable transaction involved a 1,227 sq ft unit being sold on March 22, 2024 for $2.8 million ($2,282 psf).
According to data from EdgeProp Singapore, the average resale price at Marina Bay Residences in December was $2,242 psf, higher than surrounding condos such as The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf), and Marina One Residences ($2,133 psf).
Marina Bay Residences, a 428-unit development located on Marina Boulevard, recently underwent a $5 million renovation from Jan 2022 to Sept 2023 to enhance its resident facilities and common areas. It is one of two 99-year leasehold luxury condos located in Marina Bay Financial Centre, which also comprises three Grade-A office towers, Marina Bay Residences and the 221-unit Marina Bay Suites.