Condo projects with most unprofitable transactions in District 11
The most profitable resale transaction at The Arcadia, a 164-unit condominium in prime District 11, was recorded on Dec 10. The sale of a 3,767 sq ft four-bedroom unit on the seventh floor resulted in a profit of $3.25 million (217%) for the seller, who pocketed a total of $4.75 million ($1,261 psf). The original purchase price of the unit, according to caveats, was $1.5 million ($398 psf) back in 1998. This translates to an annualised profit of 4.5% over a period of 26 years.
In the last year, The Arcadia saw a total of five units being sold for a profit ranging from $60,000 to $3.25 million. The sale of a 3,778 sq ft unit on the fourth floor was the least profitable, with the seller making a profit of only $60,000 when it was sold on Oct 10.
The most profitable resale transaction at The Arcadia took place on Dec 10, when a 3,767 sq ft unit was sold for a profit of $3.25 million. (Picture: Samuel Isaac Chua/)
The most profitable transaction to date at The Arcadia was back in 2010, when a 7,503 sq ft penthouse on the 10th floor was sold for a whopping $10 million ($1,333 psf). The owner of the penthouse, who had bought it for $5.5 million ($733 psf) in 2007, made a profit of $4.5 million (81%), which works out to an annualised profit of approximately 19% over a period of three years.
The Arcadia is a 99-year leasehold condominium located along Arcadia Road in prime District 11. Completed in 1983, it still has about 54 years left in its land tenure. The property is situated within a neighbourhood of landed estates and Good Class Bungalows, as well as top schools such as Raffles Girls Primary School, Hwa Chong Institution and National Junior College.
The second most profitable resale transaction in the last three weeks of 2024 was recorded on Dec 10, when a 2,077 sq ft unit changed hands at Tanglin Hill Meadows. The unit, which has three bedrooms, was sold for $4.5 million ($2,166 psf) after it was purchased for $1.8 million ($866 psf) in 1999. The seller thus earned a profit of $2.7 million (150%), which amounts to an annualised gain of 3.6% over a period of 26 years.
This also makes it the most profitable transaction to date at Tanglin Hill Meadows, overtaking the previous record of $2.28 million (157%) when a 2,002 sq ft unit was sold for $3.73 million ($1,863 psf) back in 2010. This unit had been purchased for $1.45 million ($724 psf) in 2005, resulting in an annualised profit of about 21% over a period of five years.
The most profitable transaction at Tanglin Hill Meadows took place on Dec 10, when a 2,077 sq ft unit was sold for $4.5 million ($2,166 psf). (Picture: Samuel Isaac Chua/)
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Tanglin Hill Meadows is a freehold condominium located along Tanglin Hill in prime District 10. Completed in 1997, it comprises a total of 20 units and is nestled within the Ridley Park Good Class Bungalow Area.
Meanwhile, losses continue to be incurred at Seascape, a 99-year leasehold condominium in Sentosa Cove. On Dec 18, the seller of a 2,174 sq ft unit on the seventh floor incurred a loss of $1.97 million (33%) when the unit was sold for $3.98 million ($1,830 psf). The same unit had been purchased for $5.95 million ($2,736 psf) back in 2011. This translates to an annualised loss of 2.5% over a period of 13 years.
In the last year, there were a total of three resale transactions at Seascape, all of which recorded losses ranging from $1.75 million to $2.53 million. The transaction that resulted in the biggest loss involved a 2,680 sq ft unit that was sold for $4.5 million ($1,679 psf) on Aug 14 last year.
The seller of a 2,174 sq ft unit at Seascape incurred a loss of $1.97 million (33%) when the unit was sold on Dec 18. (Picture: Samuel Isaac Chua/)
Seascape, which was completed in 2012, comprises a total of 151 units along the coast of the South China Sea. The eight-storey development offers three-bedroom and four-bedroom units ranging from 2,164 sq ft to 4,069 sq ft. The penthouses are larger, with sizes ranging from 3,380 sq ft to 4,252 sq ft, while the sky villas are the largest at 6,631 sq ft to 9,666 sq ft.