The Marbella three-bedroom apartment sold for $2.47 million profit
The most lucrative condo resalesale deal recorded during the period of April 18-25, in accordance with caveats filed, consisted of the resale of a 3-bedroom apartment located at the Marbella The Marbella, a condo situated in Mount Sinai Rise in District 10. The 1,475 square feet apartment located on the 19th floor was auctioned off at $3.5 million ($2,373 per square foot) on April 24, 2004. It was bought at $1.03 million ($698 per sq ft) by developer developer on March 4, 2004. The seller thereby made an income of $2.47 million which is the equivalent of 240% over a period of more than 19 years.
It is the second most profitable sale made by The Marbella. The most profitable sale took place on the 27th of March in which the 1,755 square feet unit was sold for $3.78 million ($2,154 per square foot). A seller who had purchased the property in February 2005 with a price of $1.26 million ($720 psf) was able to make the profit in the amount of $2.52 million. In the moment, the deal had set a new price-to-sf record in The Marbella.
The Marbella is an undeveloped freehold project through OUB Centre, a subsidiary of OUE Commercial REIT. In addition to having the role of developer and director for the One Raffles Place commercial development, OUB Centre has also constructed other condominiums in Singapore including Modena located on Simei Street 4 and Fontaine Parry located on Poh Huat Road. The Marbella was completed in 2005. The Marbella has 239 residences consisting of two- to four-bedroom units ranging from 1,076 sq ft to 4,284 sq feet.
The second-highest-profitable condo resales during the week of review occurred in the Trevose, a condominium located situated on Trevose Crescent, off Dunearn Road and Whitley Road in District 11. The four-bedder that measures 1,765 sq feet and located on the second floor went under contract to the buyer for $3.1 million ($1,756 per square foot) on the 20th of April. The seller bought the property on February 4, 2004 at $1.03 million ($583 per square foot) which means they realized profits in the amount of $2.07 millions (201%) after holding the unit for more than 19 years.
This is the highest-profit deal to date in the history of The Trevose. It surpasses the previous record, set just a few days prior the sale, when the owner of a 1,733 sq. ft area on the floor made profits of $2.05 million when it was purchased for $3.1 million ($1,789 per sq ft) the 14th of April.
The Trevose is a 99 year leasehold condominium that was completed in the year 2001. It was developed jointly with TID (a joint venture with Mitsui Fudosan and Hong Leong Group) and City Developments. It is comprised of three low-rise blocks. there are 142 homes. They are a mix of two, threeand four-bedders that range from 958 to 3,627 square feet. The condo is located a 10 minute walk to Stevens MRT Interchange Station on the Downtown and Thomson-East Coast Lines.
In the meantime, the least profitable deal of the week under review occurred in Helios Residences. A two-bedroom-plus-study unit measuring 1,281 sq ft was sold for $3.15 million ($2,459 psf) on April 21. The buyer purchased the property at the end of November in 2012 $4.98 million ($3,890 per square foot). They incurred the seller a loss in the amount of $1.83 millions (37%) over a 10-1/2 years.
Helios Residences has seen three other resales transactions so far this year. All of them were lower than the price of purchase. February 2 was the day that the owner of a 1,281 square foot unit incurred an estimated loss of 859,000 after it was sold for $3.08 million ($2,405 per sq ft). In March 2006, the owner of a 1,916 square foot unit was able to lose approximately $649,000 when the unit was sold to a buyer to the value of $4.45 million ($2,323 psf). The same month, another one of the 1,916 sq feet sold at $4.85 million ($2,531 per square foot) the 23rd of March and the seller incurred the $1.08 million gain.
The most profitable deal for Helios Residences is the sale by a bank of 4,629 square foot penthouse triplex unit in November of 2020. The penthouse was offered for sale at $8.4 million ($1,815 per sq ft), $6.1 million lower than the price it was purchased for $14.5 million ($3,133 per sq ft).
Helios Residences It is a 140-unit freehold project from Wing Tai Holdings that was completed in the year 2011. It is located in Cairnhill Circle in prime District 9 it is located close in proximity to Orchard Road shopping belt and the Newton area. The typical units in the development include three and two bedroom units of 1,281 – 2,002 square feet.