The penthouse unit at Orchid Mansion in District 15 was recently sold for a profitable $4.88 million on Dec 31, 2024, making it the most profitable resale transaction during the period of Dec 31, 2024, to Jan 7, 2025. The 2,842 sq ft unit on the 21st floor was sold at a price of $4.88 million, translating to a profit of $2.58 million (112%). This sale also recorded an annualized profit of 4.9% over the course of nearly 16 years.This transaction at Orchid Mansion is the most profitable resale deal recorded at the development so far, 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. The unit was previously bought for $1.58 million ($1,050 psf) in June 2007.Orchid Mansion, located at 11 Amber Road, is a freehold development that is over 20 years old. It consists of a 21-story residential tower that contains a mix of two- and three-bedroom units, ranging from 1,346 sq ft to 2,002 sq ft. The development also has two penthouses, of 2,842 sq ft and 2,734 sq ft each.On the other hand, the second most profitable resale transaction during the week was recorded at Villa Marina, when a 1,625 sq ft unit was sold for $2.35 million ($1,446 psf) on Jan 3. This three-bedroom unit on the ground floor was purchased for $630,500 ($388 psf) in September 2006, resulting in a profit of $1.72 million (273%) for the seller. The annualized profit for this transaction comes up to 7.6% over a span of 18 years. This sale at Villa Marina surpassed the previous profitable record at the development of $1.58 million (219%), when a 1,916 sq ft unit on the fourth floor was sold for $2.3 million ($1,200 psf) in July 16 last year. The unit was previously purchased for $720,416 ($376 psf) in November 1998.Villa Marina, a 99-year leasehold development located at Jalan Sempadan in District 15, is a 432-unit project that was completed in 1999. It comprises 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 located close to Siglap MRT station on the Thomson-East Coast Line, and is also near East Coast Park. It is surrounded by several primary schools, such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School, and Tao Nan School.On the other hand, the most unprofitable resale transaction of the week was the sale of a 1,130 sq ft unit at Marina Bay Residences, which resulted in a loss of $386,000 (16%) for the seller. This unit was sold for $2.1 million ($1,858 psf) on Jan 2, but was previously purchased 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 25 resale transactions last year, with 13 of them resulting in losses ranging from $1.25 million to $43,600. The most unprofitable transaction at the development was the sale of a 1,227 sq ft unit on the fourth floor for $2.8 million ($2,282 psf) on March 22, 2024.Marina Bay Residences is a 428-unit development located at Marina Boulevard, and is 15 years old. The condo recently underwent a $5 million revamp from Jan 2022 to Sept 2023, to improve resident facilities and common spaces. The development is one of two 99-year leasehold luxury condos in Marina Bay Financial Centre (MBFC), a mixed-use development that consists of three Grade-A office towers, Marina Bay Residences, and the 221-unit Marina Bay Suites.According to data on resale caveats at Marina Bay Residences, the average resale price last month was $2,242 psf, which is higher than the average price 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).Overall, the recent transactions at Orchid Mansion, Villa Marina, and Marina Bay Residences demonstrate the strength of the property market, with some units recording significant profits over a span of 15 to 18 years. As for Marina Bay Residences, despite some unprofitable transactions, the development remains a prime location for luxury living, with its close proximity to the CBD and MBFC.
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Obtaining financing is a crucial component of purchasing a condo. In Singapore, there are various mortgage choices available. However, it is crucial to have knowledge of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on how much a borrower can loan based on their income and current debt liabilities. To ensure informed financial decisions and avoid over-borrowing, investors should familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, for a list of Singapore Projects to consider, please visit the provided website.