The Arcadia witnessed its most profitable resale transaction from Dec 10 to Dec 31 with the sale of a 3,767 sq ft unit for $4.75 million ($1,261 psf). The owner, who had bought the four-bedroom unit for $1.5 million ($398 psf) in 1998, made a handsome profit of $3.25 million (217%). This translates to an annualised profit of 4.5% over 26 years.
Last year, five units at The Arcadia saw profits ranging from $60,000 to $3.25 million. The most recent of these was the sale of a 3,778 sq ft unit on the fourth floor for $4.6 million ($1,218 psf) on Oct 10, which yielded a profit of $60,000. The top-performing transaction at The Arcadia was the sale of a 7,503 sq ft penthouse on the 10th floor in 2010 for $10 million ($1,333 psf). The penthouse was purchased for $5.5 million ($733 psf) in 2007, resulting in a profit of $4.5 million (81%). This equates to an annualised gain of 19% over three years.
Located in prime District 11, The Arcadia is a 99-year leasehold condominium on Arcadia Road. Completed in 1983, the development comprises 164 units with 54 years remaining on its land tenure. It is surrounded by landed estates and Good Class Bungalows, and is in close proximity to prestigious schools such as Raffles Girls Primary School, Hwa Chong Institution and National Junior College.
The second most profitable resale transaction during the last three weeks of 2024 was at Tanglin Hill Meadows, with the sale of a 2,077 sq ft unit for $4.5 million ($2,166 psf) on Dec 10. This unit was purchased for $1.8 million ($866 psf) in 1999, resulting in a profit of $2.7 million (150%). The annualised gain was 3.6% over 26 years, making it the most profitable transaction to date at Tanglin Hill Meadows. It surpassed the previous record of $2.28 million (157%) when a 2,002 sq ft unit was sold for $3.73 million ($1,863 psf) in 2010. This unit was acquired for $1.45 million ($724 psf) in 2005, with the resale yielding an annualised profit of about 21% over five years.
Tanglin Hill Meadows is a freehold development with 20 units, located along Tanglin Hill in prime District 10. Completed in 1997, it is nestled within the Ridley Park Good Class Bungalow Area.
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However, at Seascape, a 99-year leasehold condo in Sentosa Cove, the seller of a 2,174 sq ft unit on the seventh floor sustained a loss of $1.97 million (33%) when the unit was sold on Dec 18. The three-bedroom unit was sold for $3.98 million ($1,830 psf) after being bought for $5.95 million ($2,736 psf) in 2011. As a result, the seller incurred an annualised loss of 2.5% over 13 years.
This sale marks the third resale transaction at Seascape in 2024, with all three recording losses ranging from $1.75 million to $2.53 million. The second-largest loss-incurring transaction for 2024 was also at Seascape – a 2,680 sq ft unit was sold for $4.5 million ($1,679 psf) on Aug 14, 2024, resulting in a loss of $2.53 million.
The project with the record loss in 2024 was a 3,660 sq ft unit at 3 Orchard By-The-Park. The four-bedroom unit on the fourth floor was sold for $11.5 million ($3,142 psf) on Nov 29, 2024, after being purchased for $16 million ($4,372 psf) in November 2020. The annualised loss was 23% over four years.
Completed in 2012, Seascape is located along the South China Sea and comprises 151 units. It features three- and four-bedroom units ranging from 2,164 sq ft to 4,069 sq ft, penthouses of 3,380 to 4,252 sq ft, and sky villas between 6,631 and 9,666 sq ft. Find the latest listings for The Arcadia properties on Ask
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Condo projects with most unprofitable transactions
The most expensive average PSF in District 11 for a condominium project goes to another Sentosa Cove property, The Oceanfront @ Sentosa Cove. The project had three top profitable transactions averaging at $3,048 psf last year, with one of the transactions being the sale of the penthouse unit for $13.2 million ($2,893 psf) on July 15, 2024. This unit was acquired for $10 million ($2,195 psf) in 2010, resulting in a profit of $3.2 million (32%).
On the other hand, the project with the most unprofitable transaction in District 11 last year was The Marbella, also in Sentosa Cove. This was the sale of a 2,788 sq ft unit for $3.55 million ($1,275 psf) on Sept 2. The unit was acquired for $6.4 million ($2,297 psf) in October 2006. Not only was this the most unprofitable resale transaction in the district, but it was also the only one to record an annualised loss of more than 10%. The annualised loss was 28% over 15 years.
Unsurprisingly, all top unprofitable transactions in District 11 last year were condo projects located in Sentosa Cove, with the exception of one unit at Orchard Scotts that posted a 2% annualised loss. The most expensive average PSF in District 11 for a condominium project goes to another Sentosa Cove property, The Oceanfront @ Sentosa Cove. The project had three top profitable transactions averaging at $3,048 psf last year, with one of the transactions being the sale of the penthouse unit for $13.2 million ($2,893 psf) on July 15, 2024. This unit was acquired for $10 million ($2,195 psf) in 2010, resulting in a profit of $3.2 million (32%).
On the other hand, the project with the most unprofitable transaction in District 11 last year was The Marbella, also in Sentosa Cove. This was the sale of a 2,788 sq ft unit for $3.55 million ($1,275 psf) on Sept 2. The unit was acquired for $6.4 million ($2,297 psf) in October 2006. Not only was this the most unprofitable resale transaction in the district, but it was also the only one to record an annualised loss of more than 10%. The annualised loss was 28% over 15 years.
Unsurprisingly, all top unprofitable transactions in District 11 last year were condo projects located in Sentosa Cove, with the exception of one unit at Orchard Scotts that posted a 2% annualised loss.