Four-bedroom penthouse at Sentosa’s Turquoise sold at $3.78 mil loss

The most profitable resale transaction that took place week of Dec 27, 2022 to Jan 3 was the sale of a 2,852 sq ft, four-bedroom unit at Nassim Mansion. It was sold for $9.28 million ($3,253 psf) on Dec 29 and had previously been bought for $5.89 million ($2,068 psf) in May 2007, resulting in a $3.38 million profit (57%). This translates Tengah EC to an annualised gain of 2.9% over 15½ years and is a record psf-price high at this freehold development, surpassing the previous record set by the sale of a 3,412 sq ft unit in June 2018 at $10.6 million ($3,107 psf).

The most unprofitable transaction in the same week was the sale of a 3,283 sq ft, four-bedroom penthouse unit at Turquoise in Sentosa Cove. The unit was sold for $4.63 million ($1,410 psf) on Dec 27, significantly lower than the $8.42 million ($2,564 psf) it fetched in November 2007. As a result, the seller suffered a loss of $3.78 million (45%), which translates to an annualised loss of 3.9% over 15 years. This is the second most unprofitable sale to date at the 99-year leasehold condominium. The record loss remains the sale of a 3,746 sq ft penthouse unit at $4.4 million ($1,175 psf) in September 2018, which had been previously purchased for $9.53 million ($2,545 psf).