Four-bedder at Marina Bay Residences sold at $2.4 mil loss
At Marina Bay Residences, the most unprofitable resale transaction this year took place with the sale of a four-bedroom unit on the 30th floor for $6.9 million ($2,914 psf) on Oct 18. The seller had purchased it in March 2014 for $9.29 million ($3,923 psf) and ended up making a loss of $2.39 million. This works out to a 26% loss over a 9½ year holding period.
On the flip side, the most profitable resale transaction during the week of Oct 17 – 24 ^ took place at Tiara. A three-bedder measuring 1,346 sq ft changed hands for $3.13 million ($2,326 psf), netting the seller a gain of $1.55 million (98%) after a 23-year holding period.
The second most profitable transaction was recorded at Claremont. A 1,367 sq ft, three-bedroom unit on the first floor was sold for $2.43 million ($1,778 psf) on Oct 19. The seller had purchased it back in July 1999 for $1.04 million ($762 psf) and made a profit of $1.39 million (133%) over 24 years.
Other resale transactions at Marina Bay Residences have also been largely unprofitable. Out of the 12 resale transactions so far this year, eight have resulted in losses for the seller. Data on EdgeProp Research shows that units from 710 to 1,981 sq ft were sold at between $1.45 million and $5.23 million, or between $1,981 and $2,641 psf. The losses ranged from around $45,000 to $510,000.
Marina Bay Residences, located in District 1, is a 99-year leasehold project completed in 2010. The development has 428 units of one- to four-bedroom apartments ranging from 710 to 2,379 sq ft, nine penthouses from 3,606 to 4,672 sq ft and a triplex penthouse unit measuring 11,011 sq ft featuring a roof terrace and private pool.
Tiara is a freehold condo located along Kim Seng Walk in District 9’s River Valley area. Built in 1995, it has 264 units of two- and three-bedders sized at 893 to 1,561 sq ft. Great World MRT Station on the Downtown Line is within walking distance.
Residents will enjoy a range of premier amenities, such as a vast swimming pool, pristine playgrounds, landscaped gardens, and much more. The development also features a range of dining and retail outlets, providing convenience for residents. Residents can also enjoy easy access to public transport links, with a range of bus and MRT stations in the vicinity. For those searching for the ideal executive condominium in Singapore, Tengah Executive Condominiumclose EC is an excellent choice. With luxurious amenities, convenient access to public transport, and a prime location, it is a perfect place for modern living.
Claremont is a freehold condo located along Killiney Road in District 9. Completed in 2000, it has 67 units that comprise two-, three- and four-bedders between 850 and 2,637 sq ft.
^Check out the latest listings for Marina Bay Residences, Claremont, Tiara properties.