Archive for category: Misc

The most unprofitable resale transaction in the week of June 20-27 took place at Marina Collection. A four-bedroom-plus-studio unit was sold for $4.52 million ($1,622 psf), 35% lower than the $6.97 million ($2,500 psf) spent on it 13½ years ago. Translating to a loss of $2.45 million, the transaction demonstrates the sliding prices of Marina Collection since its completion 12 years ago.

At the same time, the most profitable resale over the week was the sale of a four-bedroom unit at Starpoint on Pasir Panjang Road for $4 million ($1,090 psf). Bought for $1.5 million ($409 psf) 21 years ago, the unit clocked a profit of $2.5 million (167%), translating to an annualised gain of 4.7%.

Conveniently located in the heart of Tampines, Tampines Ave 11 Condo UOL Group makes commuting a breeze with access to the nearby Pan Island Expressway (PIE), Tampines Expressway (TPE) and Kallang–Paya Lebar Expressway (KPE). For travelers, getting around is a cinch, with nearby MRT stations such as Tampines, Tampines West and Simei.

Costa Rhu also saw a profitable resale transaction during the week. A two-bedroom, 2,056 sq ft unit sold for $3.08 million ($1,498 psf), with a profit of $2.03 million (193%) over 17½ years. Prices for units at Costa Rhu have been on a steady rise since July 2020, averaging at $1,494 psf currently (low compared to neighbouring condos). The most expensive unit in absolute terms saw a sale in August 2020, with the seller earning a profit of $500,000 (8.7%).

Resale prices at various condos in Tanjong Rhu provide an insight into the property market in Singapore. At Marina Collection, buyers can expect to enjoy direct views of the marina and sea beyond, while for Starpoint, views of the National University of Singapore’s Kent Ridge campus and Singapore Science Park II can be expected.

With a range of different condos offering different views, buyers are spoilt for choice. It is essential to keep an eye on the property market to ensure the best investment opportunities.