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

.The most profitable residential sale transaction for the week took place at The Marbella, with the 1,625 sq ft three-bedroom unit sold for $3.45 million ($2,123 psf). This was a 177% profit for the seller, with an annualised profit of 5.7% in more than 18 years. The second most profitable sale was at The Sail @ Marina Bay, with a 1,184 sq ft three-bedroom unit sold for $2.6 million ($2,196 psf). The seller made a 125% profit, with an annualised profit of 4.6%, after owning the property for 18 years.

The Marbella on Mount Sinai Rise in District 10 was the site of the most profitable resale transaction during the week of Jan 24 to 31. A 1,625 sq ft, three-bedroom unit was sold for $3.45 million ($2,123 psf), earning the seller a profit of $2.21 million (177%) over 18 years – an annualised profit of 5.7%. This deal marked the second most profitable resale transaction on record for The Marbella.

The most profitable transaction, however, involved a 4,284 sq ft four-bedroom penthouse unit purchased for $2.33 million ($544 psf) in November 2004, before being sold for $4.65 million ($1,085 psf) in May 2010. This generated a record-breaking $2.32 million (99%) profit for the seller, with an annualised profit of 13% over five years.

The Marbella is a freehold condominium located close to several large-scale residential developments. Notable examples include the 660-unit Pine Grove and the 1,006-unit Pandan Valley, both located off Ulu Pandan Road. Primary schools like Henry Park Primary School, Clementi Primary School, Fairfield Methodist Primary School, Methodist Girls’ Primary School, and Nan Hua Primary School are situated within 2km of the condo. Higher educational institutions within the area include Anglo-Chinese Junior College, the Singapore Institute of Technology, and Yale-NUS College.

The unit mix of the Marbella consists of two to four-bedroom units ranging from 1,076 to 4,284 sq ft. So far this year, there have been three resale transactions in the condo, including the most profitable one. The other two deals saw a 1,367 sq ft unit being Champions Way Condo sold for $2.75 million ($2,011 psf) on January 13, and a 1,582 sq ft unit being sold for $3.38 million ($2,139 psf) on January 5.

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

On Jan 26, the second most profitable resale in the same week occurred at The Sail @ Marina Bay – a 99-year leasehold condo on Marina Boulevard in District One. A 1,184 sq ft three-bedroom unit was sold for $2.6 million ($2,196 psf) after purchasing it for $1.16 million ($976 psf) back in November 2004. This generated a profit of $1.44 million (125%) for the seller, signifying an annualised profit of 4.6% over 18 years.

The Sail @ Marina Bay is located near the CBD, making it close to a selection of transport links, F&B outlets, and amenities. It is situated next to the Downtown MRT Station on the Downtown Line, as well as Raffles Place Interchange and Marina Bay Interchange.

A total of eleven resale transactions have been made at The Sail @ Marina Bay since last year, nine of which were profitable. The most profitable of which saw a 1,798 sq ft unit sold for $3.6 million ($2,003 psf) on Nov 7. The seller managed to make a $1.75 million (94%) profit from the purchase, resulting in an annualised profit of 3.8% over 18 years.

The most unprofitable resale during the week happened at Marina Bay Suites, which is close to The Sail @ Marina Bay. On Jan 27, a 1,625 sq ft unit there was sold for $3.28 million ($2,018 psf), having been bought for $3.78 million ($2,329 psf) in October 2011. This resulted in a loss of $505,000 (13%) for the seller, which translates to an annualised loss of 1.3% over 11 years.

Marina Bay Suites is a 99-year leasehold condo located on Central Boulevard, completed in 2013. It comprises a 66-storey residential tower, with three and four-bedroom units ranging from 1,572 to 2,691 sq ft. So far, twenty seven of the forty-five transactions at the condo have been unprofitable, with losses ranging from $7,000 to $3.25 million. The latter figure was the result of a 2,691 sq ft four-bedroom unit being sold for $5 million ($1,858 psf) on Aug 16 last year, which cost $8.25 million ($3,066 psf) to purchase back in December 2013. This yielded an annualised loss of 5.6% for the seller over eight years.

Check out the latest listings near The Marbella, The Sail @ Marina Bay, Marina Bay Suites, Pine Grove, Pandan Valley, Fontana Heights, The Trizon, The Sail @ Marina Bay, 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.

The most profitable resale transaction during the week of Jan 24 to 31 took place at The Marbella, where a 1,625 sq ft three-bedroom unit was sold at a 177% profit, earning the seller a $2.21 million and an annualised profit of 5.7% over 18 years. The second most profitable was at The Sail @ Marina Bay, with a three-bedroom unit sold for $2.6 million ($2,196 psf), resulting in a $1.44 million (125%) profit and an annualised profit of 4.6% over 18 years. The most unprofitable deal of the week occurred at Marina Bay Suites, where a 1,625 sq ft unit was sold for $3.28 million ($2,018 psf) to incur a loss of $505,000 (13%).