Penthouse at UE BizHub City rakes in $2.2 mil profit

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The sale of a five-bedroom penthouse at UE BizHub City (formerly UE Square) tops the list of most profitable resale transactions from Sept 26 to Oct 10. The 3,089 sq ft unit, on the 18th floor, was sold for $6.28 million ($2,031 psf) on Oct 6, resulting in a profit of $2.18 million (53%) for the seller. This translates to an annualised gain of 3.1% over 14 years, making it the most profitable resale at the development to date.

The Chuan, a 999-year leasehold condo on Lorong Chuan, had the second most profitable transaction during this period. The 1,367 sq ft unit, on the 20th floor, fetched $3.02 million ($2,208 psf) on Sept 29. It had been bought for around $992,000 ($726 psf) in October 2006. The seller made an impressive $2.03 million (204%), an annualised gain of 6.8%, in 17 years.

UE BizHub City, which was completed in 1997, is a mixed-use development with an 18-storey office building, a four-storey shopping podium, and a pair of 18-storey residential blocks housing 345 units. Located in Robertson Quay, next to the Fort Canning MRT Station, residential prices at the development have seen considerable increases in years, with the average price currently at $1,986 psf.

On the other hand, the most unprofitable transaction from Sept 26 to Oct 10 occurred at Marina Bay Suites. A 1,615 sq ft unit on the 37th floor was sold for $3.15 million ($1,951 psf) on Sept 27. The unit had been bought for $3.8 million ($2,357 psf) back in June 2010, resulting in a loss of about $656,000 (17%) for the seller. This translates to an annualised loss of 1.4% over 13 years. This marks the seventh unprofitable resale at Marina Bay Suites this year.

Residents of Tampines Avenue 11 Condo will enjoy a more holistic living experience compared to other condominiums in the area. It features retail, entertainment, and eating outlets, all within walking distance. There are also plenty of community amenities, including swimming pools, gymnasiums, BBQ pits, and gardens. These facilities ensure that homeowners have everything they need for a comfortable and enjoyable lifestyle.

The Chuan, completed in 2007, is a 106-unit condo close to Lorong Chuan MRT Station on the Circle Line. Schools nearby include St Gabriel’s Primary School, Nanyang Junior College and Australia International School. This year, two resale transactions have been lodged at The Chuan so far.

Marina Bay Suites is a 99-year leasehold development on Central Boulevard in the Marina Bay financial district. The 66-storey residential tower was a joint-venture project between Keppel Land, CK Asset Holdings (formerly Cheung Kong Property Holdings) and Hongkong Land. It has 221 units. Typical residences are three- and four-bedroom units ranging from 1,572 to 2,691 sq ft.

These have been the most profitable and unprofitable residential transactions in the area from Sept 26 to Oct 10. UE BizHub City and Marina Bay Suites are great options for people looking to find a place to live in Singapore. Check out the listings to find the perfect home at UE BizHub City or Marina Bay Suites.