Four-bedder at Orion sold for $1.4 mil loss

here or Pebble Bay properties here.The sale of a four-bedroom unit at Orion on Sept 21 marked the most unprofitable resale transaction last week. The unit fetched $3.93 million ($2,216 psf) – a loss of $1.43 million (27%), which translates to an annualised loss of 1.9% over 16 years. Meanwhile, the sale of a four-bedroom unit at Pebble Bay raked in a profit of $2.98 million (137%) – translating to an annualised gain of 3.1% over 29 years.

The sale of a four-bedroom unit at Orion on Sept 21 marked the most unprofitable resale transaction over the course of the week of Sept 19 to 26. The 1,776 sq ft unit, on the 10th floor, was sold for $3.93 million ($2,216 psf) – but had been purchased for $5.36 million ($3,018 psf) in July 2007. As a result, the seller suffered a loss of $1.43 million (27%), which equates to an annualised loss of 1.9% over 16 years.

There are plenty of shopping and dining options in the area, and several other facilities such as a swimming pool, gym and yoga centre. Tengah Plantation Close EC also provides residents with a private club for their leisure and recreation needs. It is located in an easily accessible part of the city, making it the perfect place to call home. Residents can make the most of the tranquil surroundings and feel at ease when stepping out for their daily activities. Those looking for a unique and luxurious lifestyle will be delighted to call Tengah Plantation Close EC home.

This transaction has set a record loss at Orion, the freehold condo at Orange Grove Road in prime District 10. Previously, the highest loss at the condo was incurred from the sale of a 1,518 sq ft, three-bedroom unit, on the 23rd floor, for $3.38 million ($2,227 psf) in January 2010. The unit had been purchased for $4.4 million (42,901 psf) in August 2007, leading to a loss of $1.02 million (23%), which works out to an annualised loss of 10% over two years.

The unit sold on Sept 21 also marks the first resale transaction at the condo in two years. As of end-September, the average resale price at Orion was about $1,917 psf.

Notable residential projects in the vicinity include Treetops Executive Residences, Shangri-La Residences, The Ladyhill, and Le Nouvel Ardmore. Landmark commercial and hotel developments in the area include Shangri-La Hotel, St Regis Hotel Singapore, Palais Renaissance, and Tanglin Mall.

On the other hand, the most profitable transaction during the same week occurred at Pebble Bay on Tanjong Rhu Road. A four-bedroom unit, on the second floor, was sold for $5.15 million ($1,876 psf) on Sept 21. The unit had been purchased for $2.19 million ($799 psf) in March 1995, leading to a profit of $2.98 million (137%), equating to an annualised gain of 3.1% over 29 years.

Pebble Bay is a 99-year leasehold condo with riverfront views. So far this year, 10 resale transactions at Pebble Bay were profitable – profits ranging from $373,000 to $4.7 million.

The second most profitable resale that week was for a 1,916 sq ft unit at Coronation Grove, a 999-year leasehold condo on Coronation Road. The unit, on the third floor, was sold for $3.6 million ($1,879 psf) on Sept 22. It had been purchased for $1.5 million ($783 psf) in February 2007, leading to a profit of $2.1 million (140%), equating to an annualised gain of 5.4% over 17 years. This marks a record profit achieved at Coronation Grove.