Archive for category: Misc

The sale of a four-bedroom unit at Marina Bay Residences recorded the most unprofitable resale transaction during the week of October 17 to 24. Located on the 30th floor, the 2,368 sq ft unit changed hands for $6.9 million ($2,914 psf). The seller, who purchased it for $9.29 million ($3,923 psf) in March 2014, incurred a loss of $2.39 million. This makes it the second most unprofitable resale transaction to occur at Marina Bay Residences.

Eight of the 12 resale transactions that happened this year at Marina Bay Residences have been unprofitable, ranging from losses of around $45,000 to $510,000. The most profitable transaction during the week in review occurred at Tiara. On Oct 20, a three-bedder measuring 1,346 sq ft changed hands for $3.13 million ($2,326 psf). The seller, who purchased the unit in October 2000 for $1.58 million ($1,174 psf), netted a gain of $1.55 million.

Claremont saw the second most profitable transaction in the same period, with its 1,367 sq ft, three-bedroom unit on the first floor selling for $2.43 million ($1,778 psf) on Oct 19. The seller of the unit had purchased it for $1.04 million ($762 psf) in July 1999, making a gain of $1.39 million (133%) after holding it for slightly more than 24 years. This was also the most profitable resale transaction to occur at the development, based on caveats lodged.

The most unprofitable transaction occurred at Marina Bay Residences in May 2022. The sale of a 4,435 sq ft, four-bedroom unit on the 52nd floor was for $9.4 million ($2,120 psf). The seller, who bought the unit from the developer in July 2007 for $11.98 million ($2,701 psf), made a loss of $2.58 million.

Both Marina Bay Residences and Claremont are freehold developments located in District 1 and 9’s River Valley area. While Marina Bay Residences has 428 units, Claremont has 67 units. Units at both developments range from one- to four-bedroom apartments.

The most unprofitable resale transaction at Marina Bay Residences was the sale of a 4,435 sq ft, four-bedroom unit on the 52nd floor for $9.4 million ($2,120 psf) in May 2022. The seller had bought it from the developer in July 2007 for $11.98 million ($2,701 psf), making a loss of $2.58 million. The second most unprofitable transaction occurred in October with the sale of a 2,368 sq ft unit located on the 30th floor for $6.9 million ($2,914 psf). The seller incurred a loss of $2.39 million on the transaction, which works out to a 26% loss over a holding period of about 9½ years.

Meanwhile, the most profitable transaction recorded during the week in review was at Tiara. The gain was achieved with the sale of a 1,346 sq ft, three-bedroom unit for $3.13 million ($2,326 psf). The seller, who purchased it in October 2000 for $1.58 million ($1,174 psf), netted a gain of $1.55 million (98%) after holding the property for slightly over 23 years.

Shops and services provided include; supermarkets selling groceries, fashion outlets stocking a range of clothing brands, beauty parlours, convenience stores, restaurants, bookshops, salons, boutiques, and cafes.

Residents of Tengah Plantation Close EC can enjoy shopping at different malls such as Bukit Panjang Plaza, Lot 1, West Mall, Junction 10, and Bukit Timah Shopping Centre. These malls have something for everyone, no matter their budget. From luxury brands to budget stores, shoppers will be able to find a store to suit their needs and interests. Not to mention, these malls also provide many other activities such as bowling and karaoke that families can enjoy.

Thus, it is evident that shopping centres near Tengah Plantation Close EC are some of the best places to shop. All in all, these shopping centres provide convenient and comprehensive shopping options for those living life near the plantation EC.

Apart from Tiara, Claremont also saw a profitable resale transaction during the week in review. The 1,367 sq ft, three-bedroom unit sold on Oct 19 was purchased by the seller in July 1999 for $1.04 million ($762 psf). This resulted in the seller making a gain of $1.39 million (133%).

Marina Bay Residences and Claremont are located in District 1 and 9’s River Valley area respectively. The former is a 99-year leasehold project with 428 units ranging from one- to four-bedroom apartments of 710 to 2,379 sq ft, along with nine penthouse units of 3,606 to 4,672 sq ft, and a triplex penthouse unit measuring 11,011 sq ft which comes with a roof terrace and private pool. Claremont, on the other hand, is a freehold condo with 67 units consisting of two-, three- and four-bedders between 850 and 2,637 sq ft.

The most unprofitable resale transaction at Marina Bay Residences and the most profitable transaction at Tiara and Claremont indicated that buyers and sellers are being more cautious when it comes to making property investments.