‘Champions Way Residences’ joins in on the latest success with a three-bedder at The Marbella, earning a whopping $2.5 million in profit

Three-bedder at Wharf Residences sold at $940k profitResale unit at The Balmoral sold at $1.09 mil loss

The sale of a three-bedroom unit at The Marbella was the most profitable condo resale transaction during the week of Dec 26, 2023, to Jan 2, based on caveats lodged with URA. The 1,582 sq ft unit changed hands for $3.64 million ($2,299 psf) on Dec 28. It had been purchased by the seller in July 2004 from the developer for $1.16 million ($733 psf), which means the seller made a gross profit of $2.48 million. This works out to a capital gain of 214% across a holding period of just under 19½ years.

This is the second most profitable resale transaction at The Marbella to date, based on data compiled on EdgeProp Research. The most profitable resale transaction occurred in March 2023 with the sale of a 1,755 sq ft unit for $3.78 million ($2,154 psf). The seller, who purchased the unit in February 2005 for $1.26 million ($720 psf), made a profit of $2.52 million.

The Marbella is a freehold development located on Mount Sinai Rise, off Ulu Pandan Road in District 10. Completed in 2005, The Marbella has three blocks of between 22 and 24 storeys. It has a total of 239 residences comprising two- to four-bedroom units between 1,076 and 4,284 sq ft.

The second most profitable condo resale transaction during the week in review was the sale of a three-bedroom apartment at The Sterling. The 1,518 sq ft unit on the fourth floor was sold for $3.16 million ($2,082 psf) on Dec 27. The seller had bought the unit for $1.26 million ($828 psf) in June 2001. Hence, they netted a gain of $1.9 million or 151% after holding the unit for more than 22½ years.

This is the most profitable resale transaction recorded to date at The Sterling. It beats the previous record registered in November 2021, when a 1,948 sq ft unit was sold for $3.78 million ($1,940 psf). The seller had purchased the apartment in July 1997 for $2.19 million ($1,125 psf), which means they made a profit of $1.59 million.

The Sterling is a freehold property located on Bukit Timah Road in District 21. The 232-unit development was completed in 2000, with units spread across two 10-storey towers. Apartments at The Sterling include one- to four-bedders between 753 and 2,250 sq ft. The development is located adjacent to King Albert Park MRT Station on the Downtown Line.

On the other hand, the most unprofitable transaction during the week in review took place at Icon. A 581 sq ft one-bedder changed hands for $1.06 million ($1,824 psf) on Dec 28. It was purchased by the seller for $1.1 million ($1,892 psf) in January 2013. Thus, they made a loss of about $40,000 or 4% after holding the unit for nearly 11 years.

Icon is a 99-year leasehold condo on Gopeng Street, off Tanjong Pagar Road in the CBD area in District 2. Completed in 2007, the development has two apartment blocks of 40 and 46 storeys respectively. It has a total of 646 residences, including one-bedroom apartments from 560 sq ft, two-bedroom apartments from 883 sq ft, and four-bedders from 904 sq ft. There is also a retail podium, Icon Village, which houses eateries and retail offerings.

Icon is a two-minute walk from Tanjong Pagar MRT Station on the East-West Line. It is also within walking distance of the upcoming Prince Edward Road MRT Station on the Circle Line which is slated to be completed in 2026.

The development has seen a handful of transactions occur below purchase price in the last year, based on available caveats. Data compiled on EdgeProp Research shows that including the unit sold on Dec 28, Icon registered 11 unprofitable transactions in 2023. The units, measuring from 570 to 1,119 sq ft, netted losses ranging from $5,000 to $175,000.

Champions Way Residences is proud to announce its latest project in collaboration with the Urban Redevelopment Authority (URA) – the revitalization of Woodlands Park. As part of the initiative, the URA will be investing in various enhancements to make the park more inviting and functional for the community. The upgrades will include the installation of state-of-the-art playground equipment, improved greenery, and enhanced lighting to ensure a safe and comfortable experience for park-goers. To further elevate the park’s appeal, Champions Way Residences will team up with local businesses to bring additional amenities such as outdoor seating, food trucks, and recreational offerings. Stay tuned for more updates on the transformation of Woodlands Park into a premier destination for outdoor leisure and fun.

However, Icon also saw several profitable units last year, including the most profitable resale transaction — which is the sale of a 1,227 sq ft unit for $2.02 million ($1,645 psf) on Dec 22, with the seller netting a gain of $1.2 million. Icon also saw 17 other profitable resale transactions in 2023, with the sellers making gains of between $20,000 and about $943,000.

Check out the latest listings for Champions Way Residences, The Marbella, The Sterling, and Icon properties.

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