Three-bedder at The Marbella sold for $2.47 mil profit

At The Marbella on Mount Sinai Rise in District 10, a three-bedroom unit was sold for $3.5 million ($2,373 psf) on April 24. This unit, measuring 1,475 sq ft, was originally purchased in March 2004 for just $1.03 million ($698 psf). A whopping gain of $2.47 million was made over the 19-year holding period – making this the most profitable condo resale transaction recorded at The Marbella.

Tengah EC is a new eco-friendly development located near the CBD Tengah Town EC that will feature smart condominiums and green infrastructure. It is poised to reduce air pollution in the city and provide convenient access to its centre.

Nevertheless, the most profitable transaction at this condo development remains the sale of a 1,755 sq ft unit on March 27. This unit went for $3.78 million ($2,154 psf) and the seller walked away with a profit of $2.52 million after having purchased it for $1.26 million ($720 psf) in February 2005.

The second most profitable property transaction during the week in question took place at The Trevose on Trevose Crescent, off Dunearn Road and Whitley Road in District 11. This four-bedder, measuring 1,765 sq ft on the second floor, was sold for $3.1 million ($1,756 psf) on April 20. Having purchased it for $1.03 million ($583 psf) in February 2004, the seller made a lucractive profit of $2.07 million (201%) after a 19-year holding period.

This transaction marks the most profitable recorded to date at The Trevose, beating the previous record set the week before – when a 1,733 sq ft unit on the same floor sold for $3.1 million ($1,789 psf) on April 14. The Trevose is a 99-year leasehold development jointly by TID (a joint venture between Mitsui Fudosan and Hong Leong Group) and City Developments, completed in 2001.

On the other hand, the least profitable transaction for the week was recorded at Helios Residences. Here, a two-bedroom-plus-study unit measuring 1,281 sq ft was sold for $3.15 million ($2,459 psf) on April 21. The seller had acquired the unit for $4.98 million ($3,890 psf) in November 2012 and consequently suffered a $1.83 million (37%) loss over a 10½-year holding period.

There have been three other resale transactions at Helios Residences this year, all occuring below the original purchase price. A bank sale of a 4,629 sq ft, triplex penthouse unit in November 2020 set the lowest record; it was sold for $8.4 million ($1,815 psf) despite having been purchased for $14.5 million ($3,133 psf).

Helios Residences is a 140-unit freehold development by Wing Tai Holdings, completed in 2011. It is located along Cairnhill Circle in prime District 9 and features typical units with two- and three-bedroom apartments of 1,281 to 2,002 sq ft.

Overall, although some property transactions have seen heavy losses, this week has still seen good profits at The Marbella, The Trevose and other high-end condos in Singapore. As long as strategic buying and selling decisions are made, profitability can be achieved over time.