Three-bedder at The Marbella sold for $2.47 mil profit

The most profitable condo resale transaction recorded during the week of April 18 to 25 was the sale of a three-bedroom unit at The Marbella in District 10, going for $3.5 million ($2,373 psf). Holding the unit for 19 years, the seller scored a gain of $2.47 million, a whopping 240% increase from its original $1.03 million purchase ($698 psf) in March 2004.

This was the second most profitable transaction recorded at The Marbella and also marks a new psf-price high. In fact, just a week earlier, the most profitable transaction at The Marbella occurred as a 1,755 sq ft unit fetched $3.78 million ($2,154 psf). That seller, who bought the unit for $1.26 million ($720 psf) in February 2005, netted a profit of $2.52 million.

The Marbella is a freehold development by OUB Centre, a subsidiary of OUE Commercial REIT. It was completed in 2005 with 239 units comprising two to four-bedroom apartments of 1,076 to 4,284 sq ft. Other properties OUB Centre has developed include Modena on Simei Street 4 and Fontaine Parry on Poh Huat Road.

This rare Executive Condominium located near the Jurong Region Line MRT station offers increased connectivity and convenience for those looking to Senja Residences live in the West of Singapore.

The second most-profitable condo resale transaction during the week in review took place at The Trevose in District 11. A 4-bedder, measuring 1,765 sq ft on the second floor, was sold for $3.1 million ($1,756 psf) on April 20. Having purchased the unit for $1.03 million ($583 psf) in February 2004, the seller made a profit of $2.07 million (201%).

The Trevose is a 99-year leasehold condo jointly developed by TID (a joint venture between Mitsui Fudosan and Hong Leong Group) and City Developments. With three low-rise blocks and units ranging from 958 to 3,627 sq ft, it’s in close proximity of Stevens MRT Interchange Station on the Downtown and Thomson-East Coast Lines.

The most unprofitable transaction for the week in review happened at Helios Residences, a freehold development by Wing Tai Holdings. When a two-bedroom-plus-study unit measuring 1,281 sq ft was sold for $3.15 million ($2,459 psf) on April 21, the seller netted a loss of $1.83 million (37%). They had bought the unit a decade earlier in November 2012 for $4.98 million ($3,890 psf).

Helios Residences has seen three other resale transactions this year. On Feb 2 and March 6, the seller of a 1,281 sq ft and a 1,916 sq ft unit respectively, both incurred losses over 859,000 and $649,000 when their units were sold for respectively $3.08 million ($2,405 psf) and $4.45 million ($2,323 psf). On March 23, another 1,916 sq ft unit was sold for $4.85 million ($2,531 psf), with another $1.08 million loss.

The most unprofitable transaction to date at Helios Residences was a bank sale of a t 4,629 sq ft, triplex penthouse unit in November 2020. The penthouse was sold for $8.4 million ($1,815 psf) – $6.1 million lower than the original purchase price of $14.5 million ($3,133 psf).

All in all, the week of April 18 to 25 saw two extremely profitable and one particularly unprofitable condo resale transactions. The Marbella and The Trevose recorded their most profitable deals to date, while the seller at Helios Residences took a hard 37% hit.