A three-bedroom penthouse unit at Orchid Mansion, a freehold residential development located on Amber Road in District 15, was sold for a handsome profit of $2.58 million (112%) on Dec 31.
This marks the most profitable resale transaction recorded between Dec 31, 2024 to Jan 7, 2025. The unit, which measures 2,842 sq ft and is situated on the 21st floor, was sold for $4.88 million at $1,717 psf. It was previously purchased in March 2009 for $2.3 million at a rate of $809 psf.
After nearly 16 years, the sale translates to an annualized profit of 4.9%.
This sale has also set a new record for the most profitable resale transaction at Orchid Mansion, displacing the previous record set in July 2022 when a three-bedroom unit measuring 1,507 sq ft located on the seventh floor was sold for $2.73 million at $1,812 psf. This resulted in a profit of $1.15 million (72.6%). The unit was purchased in June 2007 for $1.58 million at a rate of $1,050 psf.
Orchid Mansion is a 20-year-old condo located at 11 Amber Road. It consists of 21-storeys and has a mix of two- and three-bedroom units ranging from 1,346 sq ft to 2,002 sq ft. There are two penthouses measuring 2,842 sq ft and 2,734 sq ft respectively.
Another notable resale transaction took place at Villa Marina on Jan 3 when a three-bedroom unit measuring 1,625 sq ft was sold for $2.35 million at $1,446 psf. The unit is located on the ground floor and was previously bought for $630,500 at $388 psf in September 2006. As a result, the seller made a profit of $1.72 million (273%), translating to an annualized profit of 7.6% over a span of 18 years.
This transaction has also broken Villa Marina’s previous record for the most profitable resale transaction when a 1,916 sq ft unit on the fourth floor was sold for $2.3 million at $1,200 psf on July 16, 2022. The unit was previously purchased for $720.416 in November 1998 at $376 psf.
Villa Marina is a 99-year leasehold development located at Jalan Sempadan in District 15. The development was completed in 1999 and is made up of 27 low-rise residential blocks with a mix of one- to four-bedroom units that range from 1,087 sq ft to 2,314 sq ft.
The 460,685 sq ft site is situated adjacent to Masjid Kampong Siglap mosque and is near Siglap MRT station on the Thomson-East Coast Line as well as East Coast Park. For families with young children, there are 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.
Opting to invest in a condominium in Singapore comes with a plethora of advantages, one of which is the potential for significant growth in value. The city-state of Singapore is known for its strategic location as a global business hub and strong economic foundation, making it a sought-after destination for real estate investment. Over the years, the real estate market in Singapore has seen a steady increase, particularly in prime locations where condos have experienced considerable appreciation. Investors who enter the market at the right time and hold onto their properties for an extended period can expect to see substantial returns. Furthermore, with the constant influx of new condo launches, there are even more opportunities for investors to take advantage of the potential for capital appreciation in Singapore. For more information, visit New Condo Launches.
On the other hand, the most unprofitable resale transaction recorded for the week took place at Marina Bay Residences when a 1,130 sq ft unit inflicted a loss of $386,000 (16%) on the seller. Sold at $2.1 million at $1,858 psf, the two-bedroom unit is located on the 17th floor and was previously bought at $2.49 million at $2,200 psf in November 2007. This results in an annualized loss of 1% over a period of 17 years.
In comparison, a jadeScape penthouse sold for a profit of $4.35 millionStar Project. Check it out here: JadeScapeCondo at Orchard Mansion’s priceMatch.