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The bustling cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art facilities. These modern condos, strategically positioned in sought-after locations, offer a perfect fusion of opulence and convenience, drawing the attention of both locals and foreigners. With an array of luxurious amenities, including swimming pools, fitness centers, and top-notch security services, these properties elevate the standard of living and prove to be alluring to prospective tenants and buyers. From an investment standpoint, these desirable features translate into higher rental returns and a steady increase in property values over time. To explore Singapore’s latest real estate developments, check out Singapore Projects.
The sale of a penthouse unit at Orchid Mansion on Dec 31 has resulted in a profit of $2.58 million, making it the most profitable resale transaction in the week between Dec 31, 2024, and Jan 7, 2025. Located in District 15 and built on freehold land, Orchid Mansion boasts a 20-year-old condo with a mix of two- and three-bedroom units ranging from 1,346 to 2,002 sq ft. The penthouse unit, which measures 2,842 sq ft and is situated on the 21st floor, was sold for $4.88 million ($1,717 psf), which was a significant increase from its previous purchase price of $2.3 million ($809 psf) back in March 2009. This translates to an annualized profit of 4.9% over nearly 16 years and makes it the most profitable resale transaction to date at Orchid Mansion. The previous record was held by a three-bedroom unit on the seventh floor, which changed hands for $2.73 million ($1,812 psf) in July 2022, resulting in a profit of $1.15 million (72.6%). This unit was previously purchased for $1.58 million ($1,050 psf) in June 2007.
Aside from Orchid Mansion, the second most profitable resale transaction during the week in review took place at Villa Marina, where a three-bedroom unit on the ground floor was sold for $2.35 million ($1,446 psf) on Jan 3. This resulted in a profit of $1.72 million (273%), as the unit was previously bought for $630,500 ($388 psf) in September 2006. This translates to an annualized profit of 7.6% over 18 years, making it the most profitable sale at Villa Marina. The previous record was held by a 1,916 sq ft unit on the fourth floor, which was sold for $2.3 million ($1,200 psf) in July last year, resulting in a profit of $1.58 million (219%). This unit was previously purchased for $720,416 ($376 psf) in November 1998.
In contrast, the most unprofitable resale transaction occurred at Marina Bay Residences, where a two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf) on Jan 2. This resulted in a loss of $386,000 (16%), as the unit was previously purchased for $2.49 million ($2,200 psf) in November 2007. This translates to an annualized loss of 1% over 17 years.
Marina Bay Residences recorded 25 resale transactions last year, with 13 of them resulting in losses ranging from $1.25 million to $43,600. The most unprofitable resale transaction involved a 1,227 sq ft unit, which was sold for $2.8 million ($2,282 psf) in March 2024.
Built on a 460,685 sq ft site around Masjid Kampong Siglap mosque, Villa Marina is a 20-year-old condo with 432 units comprising one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. It is situated in District 15 and is close to Siglap MRT station and East Coast Park. It is also within 1km of several primary schools such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School, and Tao Nan School.
On the other hand, Marina Bay Residences, a 428-unit development on Marina Boulevard in District 15, recently completed a $5 million revamp from Jan 2022 to Sept 2023 to upgrade its resident facilities and common spaces. The condo, which is situated in the prestigious Marina Bay Financial Centre, is one of two 99-year leasehold luxury condos in the integrated development, which also comprises three Grade-A office towers, Marina Bay Suites, and the 221-unit Marina One Residences.
In conclusion, the sale of the penthouse unit at Orchid Mansion for $4.88 million on Dec 31 resulted in a profit of $2.58 million (112%), making it the most profitable resale transaction between Dec 31, 2024, and Jan 7, 2025. This showcases the potential for high returns at freehold developments in District 15 such as Orchid Mansion and Villa Marina, proving to be attractive investment options for buyers.