The three-bedroom penthouse at Orchid Mansion, a freehold development on Amber Road in District 15, was sold for a record profit of $2.58 million (112%) on Dec 31. The 21st floor unit spanning over 2,842 sq ft was purchased in March 2009 for $2.3 million. This translates to an annualized profit of 4.9% over nearly 16 years and makes it the most profitable resale transaction at the development to date. The second most profitable resale transaction occurred at Villa Marina, where a three-bedroom unit on the ground floor was sold for $2.35 million on Jan 3. The seller pocketed a profit of $1.72 million (273%) as the unit had been previously bought for $630,500 in September 2006. The most unprofitable resale transaction of the week was the sale of a 1,130 sq ft unit at Marina Bay Residences, which inflicted the seller with a loss of $386,000 when it was sold on Jan 2. Marina Bay Residences recorded 25 resale transactions last year, with 13 unprofitable transactions. The condo recently completed a $5 million revamp to uplift resident facilities and common spaces.
Securing financing is a crucial factor in investing in a condo, especially in Singapore. With various mortgage choices available, it’s crucial to be familiar with the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan a borrower can obtain, considering their income and current debt commitments. To ensure wise investment decisions and avoid becoming overextended, it’s vital for investors to comprehend the TDSR and consult with financial advisors or mortgage brokers. Additionally, keeping an eye out for new condo launches can also open up more financing opportunities for potential investors.
The recent sale of a three-bedroom penthouse at Orchid Mansion, a freehold development located on Amber Road in District 15, has resulted in a whopping profit of $2.58 million (112%). This transaction, which took place on Dec 31, makes it the most profitable resale transaction from Dec 31, 2024, to Jan 7, 2025.
The unit, which spans over 2,842 sq ft and is located on the 21st floor, was sold for $4.88 million ($1,717 psf). The previous purchase price for this 20-year-old condo was $2.3 million ($809 psf) in March 2009. This translates to an annualized profit of 4.9% over nearly 16 years, making it the most profitable resale transaction at Orchid Mansion to date. This record has surpassed the previous record of $1.15 million (72.6%) made in July 2022, when a three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf). That unit had been purchased in June 2007 for $1.58 million ($1,050 psf).
Meanwhile, the second most profitable resale transaction during the week in review occurred at Villa Marina, where a 1,625 sq ft unit was sold for $2.35 million ($1,446 psf) on Jan 3. The three-bedroom unit, located on the ground floor, was bought for $630,500 ($388 psf) in September 2006. This resulted in a profit of $1.72 million (273%), translating to an annualized profit of 7.6% over 18 years. This sale has also overtaken the previous profitable record at Villa Marina of $1.58 million (219%), which was the sale of a 1,916 sq ft unit on the fourth floor for $2.3 million ($1,200 psf) on July 16 last year. That unit was previously sold for $720,416 ($376 psf) in November 1998.
Villa Marina is a 99-year leasehold development located at Jalan Sempadan in District 15, with a total of 432 units. Completed in 1999, it consists of 27 low-rise residential blocks offering 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 located near Masjid Kampong Siglap mosque and is close to Siglap MRT station on the Thomson-East Coast Line and East Coast Park. The condo is also near 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, the most unprofitable resale transaction of the week was the sale of a 1,130 sq ft unit at Marina Bay Residences, which resulted in a loss of $386,000 (16%) when it was sold on Jan 2. The two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf), but was originally 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 a total of 25 resale transactions last year, with 13 unprofitable transactions that saw 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) on March 22, 2024.
Based on a tabulation of resale caveats at Marina Bay Residences, the average resale price at the condo last month was $2,242 psf. This is higher than the average price at surrounding condos including 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 on Marina Boulevard, recently completed a $5 million revamp from Jan 2022 to Sept 2023 to upgrade resident facilities and common spaces throughout the 15-year-old condo. It is one of two 99-year leasehold luxury condos within Marina Bay Financial Centre (MBFC), a mixed-use development that also consists of three Grade-A office towers, and the 221-unit Marina Bay Suites.