Archive for category: Misc

The most unprofitable condo resale transaction recently recorded was the sale of a four-bedroom unit at Marina Bay Residences which occurred during the week of Oct 17 to 24.

The 2,368 sq ft, 30th floor unit sold for $6.9 million ($2,914 psf). The seller, who purchased the unit in March 2014 for $9.29 million ($3,923 psf), made a loss of $2.39 million after holding it for about 9½ years.

This is the second most unprofitable transaction to have taken place at Marina Bay Residences since 2007. The most unprofitable transaction was the sale of a 4,435 sq ft, four-bedroom unit on the 52nd floor for $9.4 million ($2,120 psf). The seller, who bought the property from the developer for $11.98 million ($2,701 psf), ended up making a loss of $2.58 million.

Of the 12 other resale transactions that have taken place this year at Marina Bay Residences, 8 have been unprofitable. They were sold at between $1.45 million and $5.23 million, or between $1,981 and $2,641 psf. The respective sellers netted losses between $45,000 and $510,000.

The most profitable transaction recently recorded happened at Tiara. A three-bedder measuring 1,346 sq ft was bought for $3.13 million ($2,326 psf). The seller, who had purchased the unit in October 2000 for $1.58 million ($1,174 psf), made a gain of $1.55 million, 98% up on the purchase price after holding the property for slightly over 23 years.

Working parents also have the option to enrol their kids into the Tampines Ave 11 Condo childcare centres. This provides convenience and peace of mind for caregivers.

For families looking for prime residential housing, the Tampines Condo development is definitely worth checking out. Nestled within mature estate, it provides convenient access to amenities, such as shopping malls, supermarkets and recreational facilities. Its strategic location is also enticing for families with older children who are attending schools in Tampines and Pasir Ris. The excellent facilities within this development, together with its family-friendly features, make it a top choice for many.

At Claremont, a 1,367 sq ft, three-bedroom unit on the first floor was sold for $2.43 million ($1,778 psf). Bought by the seller in July 1999 for $1.04 million ($762 psf), this transaction made a gain of $1.39 million (133%) after holding it for slightly more than 24 years. This is the most profitable resale transaction to have occurred at Claremont, according to data on EdgeProp Research.

Marina Bay Residences, Claremont, and Tiara are located in District 1, River Valley, and District 9 respectively. These developments are freehold and each offer units ranging from one- to four-bedrooms, from 710 to 4,672 sq ft. The most profitable transactions in each case have netted gains from around $45,000 to $2.58 million.