Sale of three-bedder at The Marbella sees $2.2 mil profit

, Marina Bay Boulevard and Marina Bay Interchange available for sale on EdgeProp.sg

The Marbella, a freehold condominium on Mount Sinai Rise in District 10, is no stranger to profitable resales. On Jan 27, a three-bedroom unit of 1,625 sq ft sold for $3.45 million ($2,123 psf), turning in a profit of $2.21 million (177%) for the seller. This translates to an annualised profit of 5.7% over 18 years – the second most profitable resale to date at The Marbella, following the sale of a 4,284 sq ft four-bedroom penthouse unit for $4.65 million ($1,085 psf) in May 2010.

Primary schools in a 2km radius of The Marbella include Henry Park Primary School, Clementi Primary School, Fairfield Methodist Primary School, Methodist Girls’ Primary School, and Nan Hua Primary School, while higher educational institutions in the area are Anglo-Chinese Junior College, the Singapore Institute of Technology and Yale-NUS College.

Unit mixes at The Marbella encompass types from two- to four-bedroom units ranging from 1,076 to 4,284 sq ft, with three resale transactions occurring this year, including the Jan 27 sale. The other two deals were a 1,367 sq ft unit sold for $2.75 million ($2,011 psf) on Jan 13, earning the seller a $769,000 (39%) profit and an annualised profit of 3% over 10 years; and a 1,582 sq ft unit changing hands for $3.38 million ($2,139 psf) and fetching the seller a profit of $1.25 million (58%) and an annualised profit of 3.8% over 12 years.

The most unprofitable transaction of the week was at Marina Bay Suites, a 99-year leasehold condo adjacent to The Sail @ Marina Bay. On Jan 27, a 1,625 sq ft unit sold for $3.28 million ($2,018 psf). This was originally purchased at $3.78 million ($2,329 psf) in October 2011, resulting in a loss of $505,000 (13%) for the seller and an annualised loss of 1.3% over 11 years.

Meanwhile, the second most profitable resale deal during the week was for a 1,184 sq ft three-bedroom unit at The Sail @ Marina Bay. This unit sold for $2.6 million ($2,196 psf) on Jan 26, after being bought for $1.16 million ($976 psf) in November 2004, which enabled the seller to pocket a profit of $1.44 million (125%) and an annualised profit of 4.6% over 18 years.

The Sail @ Marina Bay is situated on Marina Boulevard in District 1, comprising a 70-storey tower and a 63-storey tower, with transport links including the Downtown MRT Station on the Downtown Line and the Raffles Place Interchange, Marina Boulevard Interchange, and Marina Bay Interchange MRT Stations. It was the first condo project to be completed in the Marina Bay area upon completion in 2008.

The most profitable resale at The Sail @ Marina Bay last year was a 1,798 sq ft unit sold for $3.6 million ($2,003 psf) on Nov 7. Acquired at $1.86 million ($1,032 psf) in November 2004, the seller enjoyed a profit of $1.75 million (94%) and an annualised profit of 3.8% over 18 years.

At The Marbella, the average price based on caveats over the past 12 months is $2,091 psf, marginally higher than surrounding freehold condos such as Fontana Heights ($2,020 psf) and The Trizon ($1,954 psf).

The Marbella is close to a range of notable large-sized residential developments such as the 660-unit Pine Grove and the 1,006-unit Pandan Valley, both off Ulu Pandan Road.

Check out the latest listings near The Marbella, The Sail @ Marina Bay, Marina Bay Suites, Pine Grove, Pandan Valley, Fontana Heights, The Trizon, Downtown MRT Station, Raffles Place Interchange, Henry Park Primary School, Clementi Primary School, Fairfield Methodist Primary School, Methodist Girls’ Primary School, Nan Hua Primary School, Anglo-Chinese Junior College, Singapore Institute of Technology, Yale-NUS College, Marina Bay Boulevard and Marina Bay Interchange available for sale on EdgeProp.sg

The Marbella on Mount Sinai Rise in District 10 has seen its second most profitable resale to date – a 1,625 sq ft three-bedroom unit that sold for $3.45 million ($2,123 psf) on Jan 27. This had been purchased for only $1.24 million ($766 psf) in Senja Close EC October 2004.

Resulting in a profit of $2.21 million (177%) for the seller, this translates to an annualised profit of 5.7% over 18 years. The sale was the most profitable resale transaction during the week of Jan 24 to Jan 31.

The most profitable transaction at The Marbella was the sale of a 4,284 sq ft, four-bedroom penthouse unit for $4.65 million ($1,085 psf) in May 2010, bought for $2.33 million ($544 psf) in November 2004. This saw the seller bag a profit of $2.32 million (99%), an annualised rate of 13% over five years.

There were two other resales at The Marbella during the first month of 2021. A 1,367 sq ft unit was sold for $2.75 million ($2,011 psf) on Jan 13 and earned the seller a $769,000 (39%) profit with an annualised rate of 3% over 10 years. While on Jan 5, a 1,582 sq ft unit was sold for $3.38 million ($2,139 psf), resulting in a $1.25 million (58%) profit with an annualised percentage of 3.8% over 12 years.

The second most profitable resale involving The Sail @ Marina Bay was a 1,184 sq ft three-bedroom unit sold for $2.6 million ($2,196 psf) on Jan 26. This had been acquired for $1.16 million ($976 psf) in November 2004, which enabled the seller to pocket a profit of $1.44 million (125%), or an annualised rate of 4.6% over 18 years.

The most unprofitable resale in the week occurred at Marina Bay Suites – a 99-year leasehold condo adjacent to The Sail @ Marina Bay. On Jan 27, a 1,625 sq ft unit sold for $3.28 million ($2,018 psf), having been bought at $3.78 million ($2,329 psf) in October 2011. This meant a loss of $505,000 (13%) for the seller and an annualised loss of 1.3% over 11 years.

To date, Marina Bay Suites has seen 27 unprofitable resale transactions against nine profitable deals. Losses have ranged from as low as $7,000 to a record of $3.25 million – incurred when a 2,691 sq ft, four-bedroom unit fetched $5 million ($1,858 psf) on Aug 16 last year after being purchased at $8.25 million ($3,066 psf) in December 2013, translating to a loss of $3.25 million (39%) and an annualised loss of 5.6% over eight years.