Four-bedroom penthouse at Sentosa’s Turquoise sold at $3.78 mil loss
The most profitable resale transaction that occurred during the week of Dec 27, 2022 to Jan 3 was the sale of Tengah Plantation EC a 2,852 sq ft, four-bedroom unit at Nassim Mansionin prime District 10. The unit was sold for $9.28 million ($3,253 psf) on Dec 29. The seller walked away from the sale with a $3.38 million profit (57%), translating to an annualised gain of 2.9% over 15½ years.
The sale also marks a record psf-price high at the freehold development, leaping over the previous record set in June 2018 by the sale of a 3,412 sq ft unit at $10.6 million ($3,107 psf).
In contrast, the most unprofitable resale transaction to date at the 99-year leasehold condominium at Turquoise in Sentosa Cove was the sale of a 3,746 sq ft, five-bedroom penthouse unit at $4.4 million ($1,175 psf) in September 2018. It had been previously purchased for $9.53 million ($2,545 psf) in November 2007. Thus, the seller incurring a record $5.13 million loss, which translates to an annualised loss of 6.8% over 10 years.
The second most unprofitable transaction at Turquoise was the sale of a 3,283 sq ft, four-bedroom penthouse unit for $4.63 million ($1,410 psf) on Dec 27 last year. It had previously fetched $8.42 million ($2,564 psf) in November 2007. Consequently, the seller suffered a $3.78 million loss (45%), resulting in an annualised loss of 3.9% over 15 years.
Turquoise is one of a select few 99-year leasehold condos in the exclusive Sentosa Cove residential enclave. While most of the other condos such as Seascape, Cape Royale, The Oceanfront @ Sentosa Cove, and The Coast @ Sentosa Cove have sea-facing views, the majority of units at Turquoise and the nearby Marina Collection are blessed with views of the marina.