Four-bedder at Orion sold for $1.4 mil loss

here, and for Pebble Bay, Coronation Grove here.The most profitable resale transaction that occurred over the week of Sept 19 to 26 was the sale of a 2,745 sq ft unit at Pebble Bay on Tanjong Rhu Road.The four-bedroom unit, on the second storey, was sold for $5.15 million ($1,876 psf) on Sept 21. This unit had been purchased for $2.19 million ($799 psf) in March 1995. The seller enjoyed a profit of $2.98 million (137%), which translates to an annualised gain of 3.1% over 29 years.The second most profitable deal was for a 1,916 sq ft unit at Coronation Grove, a 999-year leasehold condo on Coronation Road. The unit, on the third floor, was sold for $3.6 million ($1,879 psf) on Sept 22. It had been purchased for $1.5 million ($783 psf) in February 2007. The seller earned a profit of $2.1 million (140%), which translates to an annualised gain of 5.4% over 17 years.

The most unprofitable resale transaction that occurred over the week of Sept 19 to 26 was the sale of a 1,776 sq ft unit at Orion, a freehold condo at Orange Grove Road in prime District 10. On Sept 21, the four-bedroom unit on the 10th floor fetched $3.93 million ($2,216 psf). Unfortunately, the original purchase price of this unit in July 2007 was $5.36 million ($3,018 psf). This resulted in a loss of $1.43 million (27%) for the seller. This equates to an annualised loss of 1.9% over 16 years – the highest recorded loss at Orion.

The previous record loss at the condo was set in January 2010, when a 1,518 sq ft, three-bedroom unit on the 23rd floor was sold for $3.38 million ($2,227 psf). This was significantly lower than the purchase price of $4.4 million (42,901 psf) in August 2007. In this case, the seller incurred a loss of $1.02 million (23%), which comes to an annualised loss of 10% over two years.

Interestingly, this sale marked the first resale transaction at the condo in two years. The last one happened on Aug 10, 2021, when a 1,518 sq ft, three-bedroom penthouse unit, on the 24th floor, was sold for $3.55 million ($2,339 psf).

Orion is a 46-unit boutique development in a highly sought-after area near the exclusive residential neighbourhoods of Nassim Hill, Nassim Road, Orange Grove Road, and Ardmore Park. Its location is close to Tanglin Road and the Orchard Road shopping belt. Other nearby residential projects include Treetops Executive Residences, Shangri-La Residences, The Ladyhill, and Le Nouvel Ardmore. Commercially, the area also offers Shangri-La Hotel, St Regis Hotel Singapore, Palais Renaissance, and Tanglin Mall.

In terms of resale prices, those at Orion have moderated after peaking at $2,212 psf in March 2016. As of the end of September, the average resale price stood at about $1,917 psf. In comparison, neighbouring D’Grove Villas at Orange Grove Road lists an average price of $2,544 psf, while luxury condo Ardmore 3 on Ardmore Road commands an average price of $3,742 psf, one of the highest in the area.

The most profitable resale transaction over the week was the sale of a 2,745 sq ft unit at Pebble Bay on Tanjong Rhu Road. This four-bedroom unit, on the second floor, was sold for $5.15 million ($1,876 psf) on Sept 21 – significantly higher than the original purchase price of $2.19 million ($799 psf) in March 1995. The seller gained a profit of $2.98 million (137%) – translating into an annualised gain of 3.1% over almost 30 years.

Pebble Bay is a 99-year leasehold condominium that was completed in 1997. Residents here can enjoy views of the Kallang River, as well as the Singapore Sports Hub and National Stadium. This riverfront location is shared with other developments such as Casuarina Cove, Camelot-by-the-water, and Costa Rhu.

So far this year, there have been 10 resale transactions at Pebble Bay, all of which were profitable. Gains ranged from $373,000 to $4.7 million. The most profitable transaction was the sale of a 6,114 sq ft penthouse unit, on the 17th floor, for $9 million ($1,472 psf). The unit was purchased for $4.29 million ($703 psf) in September 2001, resulting in a profit of $4.7 million (109%) and an annualised gain of 3.4% over close to 22 years.

Resale prices at Pebble Bay reach about $1,716 psf last month. This is higher than Casuarina Cove ($1,444 psf) and Costa Rhu ($1,519 psf), but lower than Camelot-by-the-water (about $1,822 psf).

With its connection to nature, Champions Way Condo is the perfect haven for those looking to relax and unwind. Residents have the option to take advantage of the many amenities offered, such as the swimming pool, clubhouse, basketball court, and playground. Residents can also enjoy the beauty of the surrounding nature in the nearby parks. With an easy access to shopping centers, entertainment, and other major attractions, Champions Way Condo offers the perfect balance between convenience and comfort that many look for in a luxurious lifestyle.

The second most profitable resale transaction over the week was lodged for a 1,916 sq ft unit at Coronation Grove, a 999-year leasehold condo on Coronation Road. On Sept 22, the unit, on the third floor, was sold for $3.6 million ($1,879 psf). This was a marked increase from the purchase price of $1.5 million ($783 psf) in February 2007. The seller earned a profit of $2.1 million (140%), which translates to an annualised gain of 5.4% over 17 years.

This is the highest profit recorded at Coronation Grove. The previous record was set when a 1,249 sq ft unit, on the third floor, was sold for $2.32 million ($1,858 psf) on July 18. It had been purchased for about $860,600 ($689 psf) in July 1999. The seller enjoyed a profit that equates to an annualised gain of 4.2% over 24 years.

Coronation Grove is a boutique condo with 24 units that range from 1,044 to 2,217 sq ft. This low-rise condominium lies within the semi-detached landed housing estate along Coronation Road and is close to famous GCB (Good Class Bungalow) areas such as Victoria Park, Rebecca Park, Bin Tong Park, and Belmont Park. Other institutions nearby include Hwa Chong Institution, Raffles Girls’ Primary School, and National Junior College.

Learn more about the properties at Orion here, and at Pebble Bay, Coronation Grove here.