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

At The Marbella, a condo located on Mount Sinai Rise in District 10, the most profitable condo resale transaction of the week of April 18 to 25 was recorded. On April 24, a three-bedroom unit measuring 1,475 sq ft on the 19th floor was sold for $3.5 million ($2,373 psf). The seller had purchased the unit in March 2004 for $1.03 million ($698 psf) and pocketed a profit of $2.47 million over a 19-year-hold period.

Residents of The Myst condo The Myst can easily access the Bukit Panjang Integrated Transport Hub, which offers convenient access to the Downtown Line and Bukit Panjang LRT, as well as a variety of bus services for exploring Singapore.

This was the second most profitable transaction at The Marbella, as the previous highest profit was made at a 1,755 sq ft unit, which was sold on March 27 for $3.78 million ($2,154 psf). The seller had bought the property in February 2005 for $1.26 million ($720 psf).

The Marbella is a freehold development by OUB Centre, a subsidiary of OUE Commercial REIT. It was completed in 2005 and offers 239 residences, comprising two- to four-bedroom units of 1,076 to 4,284 sq ft.

The second most-profitable condo resale transaction for the week was at The Trevose, a condo on Trevose Crescent, off Dunearn Road and Whitley Road in District 11. On April 20, a four-bedder unit measuring 1,765 sq ft on the second floor sold for $3.1 million ($1,756 psf). The seller had bought it for $1.03 million ($583 psf) in February 2004 and made a profitable gain of $2.07 million (201%) over a 19-year-hold period.

This marked the most profitable transaction at The Trevose to date. A 1,733 sq ft unit on the same floor had fetched $3.1 million ($1,789 psf) the week before and netted the seller a profit of $2.05 million. The Trevose is a 99-year leasehold condo that houses three low-rise blocks and 142 residences, all with a mix of two-, three- and four-bedders of 958 to 3,627 sq ft.

The most unprofitable transaction for the week in review occurred at Helios Residences. On April 21, a two-bedroom-plus-study unit measuring 1,281 sq ft was sold for $3.15 million ($2,459 psf). This was $1.83 million (37%) lower than the purchase price of $4.98 million ($3,890 psf) in November 2012.

Helios Residences has seen three other resale transactions to date this year, all of which were below the original purchase price. The most unprofitable of all was in November 2020, when a 4,629 sq ft triplex penthouse unit was sold for $8.4 million ($1,815 psf), marking a $6.1 million loss. Helios Residences is a freehold development by Wing Tai Holdings, built in 2011 and offering 140 two- and three-bedroom apartments of 1,281 to 2,002 sq ft.