The most profitable resale transaction in the last few weeks of December took place at The Arcadia, with a 3,767 sq ft unit selling for a whopping $3.25 million profit. The owner of the four-bedroom unit on the seventh floor sold the property on Dec 10 for $4.75 million, earning an incredible 217% profit. Records show that the unit was purchased for $1.5 million in 1998, meaning the seller made an annualised profit of 4.5% over 26 years.
Last year, five units at The Arcadia were resold for profits ranging from $60,000 to $3.25 million, with the largest profit recorded at $3.25 million for a 3,778 sq ft unit on the fourth floor. This unit sold for $4.6 million on Oct 10, 2024, providing the seller with a profit of $60,000.
The record for the most profit generated at The Arcadia goes to a 7,503 sq ft penthouse on the 10th floor, which was sold for $10 million in 2010. Its previous purchase price in 2007 was $5.5 million, resulting in a profit of $4.5 million (81%), with an annualised profit of about 19% over three years.
The second most profitable resale in the last few weeks of December was a 2,077 sq ft unit at Tanglin Hill Meadows, which was sold for $4.5 million on Dec 10. The three-bedroom unit was purchased in 1999 for $1.8 million, providing the seller with a profit of $2.7 million (150%), or an annualised gain of 3.6% over 26 years. This also breaks the record for the most profitable transaction at Tanglin Hill Meadows, surpassing the previous record of $2.28 million for a 2,002 sq ft unit sold in 2010.
Meanwhile, losses continue to accumulate at Seascape, a 99-year leasehold condo in Sentosa Cove. The seller of a 2,174 sq ft unit incurred a loss of $1.97 million (33%) when the unit was sold on Dec 18 for $3.98 million. The unit was purchased for $5.95 million in 2011, resulting in an annualised loss of 2.5% over 13 years. This marks the third resale transaction at Seascape last year, with losses ranging from $1.75 million to $2.53 million. The largest loss, at $2.53 million, was incurred by a 2,680 sq ft unit sold on Aug 14, 2024.
Obtaining suitable financing is a crucial aspect to consider when investing in a
Completed in 2012, Seascape has 151 units and fronts the South China Sea. It features three-bedroom and four-bedroom units ranging from 2,164 sq ft to 4,069 sq ft, as well as penthouses from 3,380 to 4,252 sq ft and sky villas from 6,631 to 9,666 sq ft. The most unprofitable condo projects in District 11 include The Arcadia, Tanglin Hill Meadows, and Seascape.