The record breaking sale of a three-bedroom penthouse at Orchid Mansion in District 15, on Dec 31, 2024, resulted in a profit of $2.58 million, making it the most profitable resale transaction during the week. The 2,842 sq ft unit was sold for $4.88 million ($1,717 psf), a significant increase from its previous purchase price of $2.3 million ($809 psf) in March 2009. This translates to an annualized profit of 4.9% over a period of nearly 16 years. This transaction also sets a new record for the most profitable resale transaction at Orchid Mansion, surpassing the previous record of $1.15 million (72.6%) for a 1,507 sq ft three-bedroom unit on the seventh floor, which was sold for $2.73 million ($1,812 psf) in July 2022. This unit was bought for $1.58 million ($1,050 psf) in June 2007.In addition, the second most profitable resale transaction during the week occurred at Villa Marina, where a 1,625 sq ft unit was sold for $2.35 million ($1,446 psf) on Jan 3. The three-bedroom unit on the ground floor was purchased for $630,500 ($388 psf) in September 2006. The sale resulted in a profit of $1.72 million (273%), translating to an annualized profit of 7.6% over a period of 18 years. This transaction also sets a new record for the most profitable resale transaction at Villa Marina, surpassing the previous record of $1.58 million (219%) for a 1,916 sq ft unit on the fourth floor, which was sold for $2.3 million ($1,200 psf) in July 2022. This unit was previously purchased for $720,416 ($376 psf) in November 1998.Villa Marina is a 99-year leasehold development located at Jalan Sempadan in District 15. Completed in 1999, the development comprises of 27 low-rise residential blocks with a total of 432 units. Units range from one- to four-bedrooms and are sized between 1,087 sq ft to 2,314 sq ft. Located close to the Masjid Kampong Siglap mosque, the development is within walking distance to Siglap MRT station on the Thomson-East Coast Line and East Coast Park. There are also several primary schools within a 1km radius, such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School and Tao Nan School.The most unprofitable resale transaction of the week occurred at Marina Bay Residences, where a 1,130 sq ft unit was sold for $2.1 million ($1,858 psf) on Jan 2, resulting in a loss of $386,000 (16%). This unit was previously purchased for $2.49 million ($2,200 psf) in November 2007, translating to an annualized loss of 1% over a period of 17 years.Marina Bay Residences recorded 25 resale transactions in 2024, with 13 unprofitable transactions that saw losses ranging from $1.25 million to $43,600. The most unprofitable resale transaction involved a 1,227 sq ft unit on the 17th floor, which was sold for $2.8 million ($2,282 psf) on March 22, 2022. The average resale price at Marina Bay Residences 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).Marina Bay Residences is a 15-year-old 99-year leasehold development located on Marina Boulevard. In 2024, the condo underwent a $5 million renovation to upgrade its facilities and common spaces. The development comprises of a total of 428 units and is one of two 99-year leasehold luxury condos in Marina Bay Financial Centre (MBFC). MBFC also consists of three Grade-A office towers and the 221-unit Marina Bay Suites.
The strategies implemented by the Singaporean government to cool the property market play a crucial role in the decision-making process for condo investments in the country. These measures have been put in place to maintain a stable real estate market and prevent potential speculative buying. Over the years, the government has implemented a range of measures with one of the most notable being the Additional Buyer’s Stamp Duty (ABSD). This requires foreign buyers and individuals purchasing multiple properties to pay higher taxes. While these measures may have a short-term effect on the profitability of condo investments, they also contribute to the long-term stability of the market, creating a secure environment for investing. With the continuous emergence of new condo launches in Singapore, the property market continues to offer attractive opportunities for investors. Therefore, it is crucial for investors to carefully consider the government’s cooling measures and stay informed in order to make well-informed decisions and take advantage of the thriving condo market in Singapore. Additionally, keeping an eye on new condo launches can provide valuable insights into the current and future trends of the market. By staying updated on these measures and considering their implications, investors can maximize the potential of their condo investments in Singapore.