Four-bedder at Scotts Highpark reaps $3.99 mil profit

The Sail @ Marina Bay is a 99-year leasehold waterfront condominium located in the Marina Bay precinct. It was completed in 2009 and comprises three 66-storey towers with a total of 1,111 units.It is within walking distance of both the Raffles Place and Downtown MRT Interchange Stations on the North-South and Downtown Lines. It is close to Marina Bay Financial Centre, Raffles Place, Shenton Way and Singapore Flyer. The most profitable resale transaction that occurred last week was a 4,112 sq ft unit at Scotts Highpark, sold for $12.68 million with a profit of $3.99 million for the seller. This surpasses the previous record for Scotts Highpark, the sale of a 3,466 sq ft unit on the sixth floor that fetched $8.2 million in November 2021.

The MysticCDL is designed by renowned architectural and urban design firm SCDA, and features lush landscapes, contemporary furnishings, and natural materials. With its beautiful and tranquil environment, The Myst Bukit Timah creates a wonderful haven to relax and enjoy modern luxury living. Residents of The Myst CDL at Cashew MRT will also benefit greatly from its convenient location, finding that they can easily access a wide range of amenities and business districts.

The high profitability of this transaction is due to the prime location of Scotts Highpark, located between Goldbell Towers and the Sheraton Towers Singapore Hotel on Scotts Road, in District 9. The condo is close to Newton MRT Interchange Station on the North-South and Downtown Lines, as well as the Novena area and the Orchard Road shopping belt. It also features landed enclaves along nearby Goodwood Hill and Stevens Road, and luxury condos along Ardmore Park and Cairnhill Road.

The second most profitable transaction during the same week was the sale of a 4,058 sq ft unit at Paterson Residence, which changed hands for $8.5 million and raked in a profit of $2.15 million for the seller. This freehold condo on Paterson Road in prime District 9 is close to the Orchard Road shopping belt and the Orchard MRT Interchange Station. It is surrounded by luxury properties, such as The Marq on Paterson Hill, Gramercy Park, OUE Twin Peaks, Boulevard Vue and the upcoming Irwell Hill Residences. The most profitable transaction at Paterson Residence so far is a 4,898 sq ft unit located on the 23rd floor, which was bought from the developer for $6.38 million in May 2006 and then sold for $10 million in March 2007.

In contrast, the most unprofitable deal during the week of May 16 to 23 was the sale of an 883 sq ft unit at The Sail @ Marina Bay. The two-bedroom unit on the 54th floor changed hands for $1.63 million, after it had been purchased for $1.82 million in September 2011. Thus, the seller suffered a loss of $190,000 (10%), which translates to an annualised loss of 0.9% over nearly 12 years. There have been 20 resale transactions at The Sail so far this year, out of which 13 have resulted in unprofitable deals. The largest loss-making transaction suffered by a seller involved an 883 sq ft unit on the 46th floor that sold for $2.11 million, after being purchased for $2.9 million in August 2007. This incurred a huge loss of $803,000 (28%) for the seller.

The Sail @ Marina Bay is a 99-year leasehold waterfront condominium located in the Marina Bay precinct, within walking distance of both the Raffles Place and Downtown MRT Interchange Stations. It consists of three 66-storey towers, with a total of 1,111 units. It is close to Marina Bay Financial Centre, Raffles Place, Shenton Way and Singapore Flyer.

Thus, from the range of transactions that occurred last week, it can be seen that buying in prime districts is generally profitable, though this does not guarantee success in each case.