The sale of an impressive three-bedroom penthouse at Orchid Mansion located in District 15 along Amber Road on Dec 31 yielded a whopping profit of $2.58 million, making it the most profitable resale transaction in the week from Dec 31, 2024, to Jan 7, 2025. The sale of the 2,842 sq ft unit on the 21st floor, which is part of Orchid Mansion’s freehold development, took place at a selling price of $4.88 million, translating to a staggering $1,717 psf. This marks a significant increase from its previous purchase price of $2.3 million ($809 psf) in March 2009, resulting in an annualized profit of 4.9% over a span of 16 years.
The sale at Orchid Mansion also sets a new record as the most profitable resale transaction at the development, surpassing the previous highest profit of $1.15 million (72.6%) in July 2022. This was achieved when a three-bedroom unit on the seventh floor measuring 1,507 sq ft changed hands for $2.73 million ($1,812 psf) in July 2022. This unit was previously purchased for $1.58 million ($1,050 psf) in June 2007.
In a separate development, the second most profitable resale transaction during the period occurred at Villa Marina, when a three-bedroom unit measuring 1,625 sq ft was sold for $2.35 million ($1,446 psf) on Jan 3. This translates to a profit of $1.72 million (273%), as the unit was previously acquired for $630,500 ($388 psf) in September 2006, resulting in an annualised profit of 7.6% over 18 years.
This transaction also broke the previous profit record at Villa Marina, which was attained when a four-bedroom unit measuring 1,916 sq ft was sold for $2.3 million ($1,200 psf) on July 16 last year. This unit was previously purchased for $720,416 ($376 psf) back in November 1998, resulting in a profit of $1.58 million (219%).
Villa Marina is a 99-year leasehold development located at 25 Jalan Sempadan in District 15. It comprises a total of 27 low-rise residential blocks with 432 units, including one- to four-bedroom units measuring between 1,087 sq ft to 2,314 sq ft. The freehold Orchid Mansion, on the other hand, is a 20-year-old condo development located at 11 Amber Road in District 15. It offers a mix of two- and three-bedroom units measuring between 1,346 sq ft and 2,002 sq ft, as well as two penthouses of 2,842 sq ft and 2,734 sq ft each.
Meanwhile, the most unprofitable resale transaction of the week involves a 1,130 sq ft unit at Marina Bay Residences. Sold on Jan 2 for $2.1 million ($1,858 psf), the two-bedroom unit on the 17th floor inflicted a loss of $386,000 (16%) on the seller, who had originally purchased the unit for $2.49 million ($2,200 psf) in November 2007. This translates to an annualized loss of 1% over a span of 17 years.
Marina Bay Residences recorded a total of 25 resale transactions in 2024, with 13 of them resulting in losses ranging from $43,600 to $1.25 million. The most unprofitable resale transaction at the development took place on March 22, 2024, when a 1,227 sq ft unit was sold for $2.8 million ($2,282 psf).
Based on data from resale caveats at Marina Bay Residences, the average selling price at the condo last month was $2,242 psf. This is higher than the average price at nearby 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 99-year leasehold development located at 18 Marina Boulevard and was completed in 2023. The 428-unit condo boasts excellent facilities and amenities, including recently completed upgrades worth $5 million that were carried out from 2022 to 2023. It is part of the prestigious Marina Bay Financial Centre (MBFC), which also includes three Grade-A office towers, the 221-unit Marina Bay Suites and Orchard Mansion. The development is conveniently located near Siglap MRT station on the Thomson-East Coast Line and is surrounded by top schools, including Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School and Tao Nan School.