There was a highly profitable resale transaction at the freehold Orchid Mansion on Amber Road, District 15 on Dec 31. This resulted in a profit of $2.58 million (112%), making it the most profitable resale transaction during the period of Dec 31, 2024 to Jan 7, 2025.
The unit, a 2,842 sq ft three-bedroom penthouse on the 21st floor, was sold for $4.88 million ($1,717 psf). It was previously purchased for $2.3 million ($809 psf) in March 2009. This translates to an annualized profit of 4.9% over nearly 16 years.
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This also marks the most profitable resale transaction to date at Orchid Mansion, surpassing the previous record of $1.15 million (72.6%) when a 1,507 sq ft three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf) in July 2022. That unit had been bought for $1.58 million ($1,050 psf) in June 2007.
The second most profitable resale transaction during the week in review took place at Villa Marina, with a three-bedroom unit of 1,625 sq ft on the ground floor selling for $2.35 million ($1,446 psf) on Jan 3. This resulted in a profit of $1.72 million (273%), translating to an annualized profit of 7.6% over 18 years.
This sale also surpassed the previous record for the most profitable resale transaction at Villa Marina, which was set at $1.58 million (219%) when a 1,916 sq ft unit on the fourth floor was sold for $2.3 million ($1,200 psf) on July 16 last year. That unit was previously purchased for $720,416 ($376 psf) in November 1998.
Villa Marina is a 99-year leasehold development located at Jalan Sempadan in District 15. The 432-unit project was completed in 1999 and consists of 27 low-rise residential blocks with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft.
The development is situated just beside the Masjid Kampong Siglap mosque and is close to the upcoming Siglap MRT station on the Thomson-East Coast Line, as well as East Coast Park. It is also within 1km of several primary schools such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School and Tao Nan School.
Meanwhile, the most unprofitable resale transaction during the week in review was the sale of a 1,130 sq ft unit at Marina Bay Residences on Jan 2. The two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf), resulting in a loss of $386,000 (16%). The unit was previously purchased for $2.49 million ($2,200 psf) in November 2007. This translates to an annualized loss of 1% over 17 years.
Marina Bay Residences recorded 25 resale transactions last year, with 13 of them resulting in losses ranging from $1.25 million to $43,600. The most unprofitable resale transaction involved a 1,227 sq ft unit that changed hands for $2.8 million ($2,282 psf) on March 22, 2024.
Based on a tabulation of resale caveats at Marina Bay Residences, the average resale price at the condo last month was $2,242 psf. This is higher than the average prices at surrounding condos such as The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf), and Marina One Residences ($2,133 psf).
Marina Bay Residences is a 428-unit development located on Marina Boulevard in the Marina Bay area. The condo, which just recently completed a $5 million revamp between Jan 2022 and Sept 2023, is one of two 99-year leasehold luxury condos in the Marina Bay Financial Centre (MBFC). MBFC is a mixed-use development comprising three Grade-A office towers, Marina Bay Residences, and the 221-unit Marina Bay Suites.