Archive for category: Misc

on EdgeProp.sgAt The Marbella, a three-bedroom unit was sold for $3.45 million on Jan 27, raking in a profit for the seller of $2.21 million and annualised profit of 5.7% over 18 years. This makes it the second most profitable resale on record at the condominium. On the same week, the most unprofitable resale transaction occurred at Marina Bay Suites, with the seller being hit with a loss of $505,000 and annualised loss of 1.3% over 11 years.
The Marbella in District 10 is one of Singapore’s prime freehold condominiums. On Jan 27, a 1,625 square foot three-bedroom unit in the development sold for $3.45 million ($2,123 psf), resulting in a profit of $2.21 million (177 percent) for the seller, equivalent to an annualised return of 5.7 percent over 18 years. This makes it the second most profitable resale at The Marbella to date.

The most profitable resale at The Marbella occurred in May 2010, when a 4,284 square feet, four-bedroom penthouse unit was sold for $4.65 million ($1,085 psf). The unit was purchased for $2.33 million ($544 psf) in November 2004, earning the seller a record profit of $2.32 million (99%), meaning an annualised profit of 13% over a five year period.

The Marbella is near other large-sized residential developments such as the 660-unit Pine Grove and the 1,006-unit Pandan Valley, both off Ulu Pandan Road. It is currently in close proximity to a number of primary schools, as well as higher educational institutions such as Anglo-Chinese Junior College, the Singapore Institute of Technology and Yale-NUS College.

Caveats over the past 12 months show that The Marbella commands an average price of $2,091 psf; this is slightly higher than surrounding freehold condos such as Fontana Heights ($2,020 psf) and The Trizon ($1,954 psf).

The second most profitable resale during the week was for a 1,184 sq ft three-bedroom unit at The Sail @ Marina Bay, which sold for $2.6 million ($2,196 psf) on Jan 26. The unit was bought for $1.16 million ($976 psf) back in November 2004, resulting in a profit of $1.44 million (125%), an annualised profit of 4.6% over 18 years.

The Sail @ Marina Bay is a 99-year leasehold luxury condo on Marina Boulevard in District 1. It is situated close to the Downtown MRT Station, as well as other MRT stations such as Raffles Place Interchange and Marina Bay Interchange, meaning the development is close to a wealth of amenities, F&B options and transport links.

Last year, the most profitable deal at The Sail @ Marina Bay saw a 1,798 sq ft unit sold for $3.6 million ($2,003 psf) on Nov 7. The seller pocketed a profit of $1.75 million (94%) and an annualised profit of 3.8% over 18 years.

The most unprofitable resale transaction of the week occurred at Marina Bay Suites, which is adjacent to The Sail @ Marina Bay. On Jan 27, a 1,625 sq ft unit at Marina Bay Suites was sold for $3.28 million ($2,018 psf); it had been bought for $3.78 million ($2,329 psf) in October 2011, resulting in a loss of $505,000 (13%), Tengah Plantation EC equating to an annualised loss of 1.3% over 11 years.

Marina Bay Suites is a 99-year leasehold condo on Central Boulevard which was completed in 2013. It mainly offers three- and four-bedroom units, with no studio or one- and two-bedders. According to URA caveats, Marina Bay Suites has recorded more unprofitable resales than profitable ones, with the largest loss coming from the sale of a 2,691 sq ft, four-bedroom unit for $5 million ($1,858 psf) on Aug 16 last year. The seller faced a $3.25 million (39%) loss and an annualised loss of 5.6% over 8 years.