Archive for category: Misc

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The week of September 19 to 26 saw the unprofitable sale of a 1,776 sq ft unit at Singapore’s prime District 10 – Orion, a freehold condo at Orange Grove Road. On the 10th floor, the four-bedroom unit fetched $3.93 million ($2,216 psf) on Sept 21; however, it had been purchased for $5.36 million ($3,018 psf) in July 2007. As a result, the seller suffered a loss of $1.43 million (27%), equivalent to an annualised loss of 1.9% over 16 years.

This record loss at Orion easily eclipses the previous mark it set in January 2010, when a 1518 sq ft three-bedroom unit was sold for $3.38 million ($2,227 psf). It had been purchased for $4.4 million (42,901 psf) in August 2007, resulting in a loss of $1.02 million (23%) to the seller, which translates to an annualised loss of 10% over two years.

This transaction marks the first resale in two years at the boutique project, completed in 2020. It comprises 46 residential units and is close to several exclusive residential neighbourhoods, the Orchard Road shopping belt and landmarks such as the Shangri-La Hotel, St. Regis Hotel Singapore, Palais Renaissance, and Tanglin Mall.

Comparing resale prices in the area, D’Grove Villas at Orange Grove Road stands at an average of $2,544 psf, while luxury condo Ardmore 3 on Ardmore Road commands an average of $3,742 psf – one of the highest in the area. Meanwhile, with the exception of a peak of $2,212 psf in March 2016, resale prices at Orion have moderated to an average of $1,917 psf as of the end of September.

The most profitable transaction of the week occurred at Pebble Bay on Tanjong Rhu Road. Here, a four-bedroom unit on the second floor sold for $5.15 million ($1,876 psf) on Sept 21. It had been purchased for $2.19 million ($799 psf) in March 1995 – resulting in a profit of $2.98 million (137%) to the seller, equating to an annualised gain of 3.1% over 29 years.

Pebble Bay is a 99-year leasehold condo completed in 1997, and one of the few riverfront developments fronting the Kallang River. Among its neighbours along the river are Casuarina Cove, Camelot-by-the-water, and Costa Rhu. The sale of the six-thousand-plus sq ft penthouse unit on the 17th floor for $9 million ($1,472 psf) on July 26 also contributed to the impressive list of profitable transactions at Pebble Bay; this was purchased for $4.29 million ($703 psf) in September 2001, yielding a profit of $4.7 million (109%) for the seller, with an annualised gain of 3.4% over close to 22 years.

Residents of Tampines North MRT Condo are also spoilt for choice of recreational activities. The tranquil neighbourhood provides a vast array of amenities, such as eateries, cafes and shopping malls, for a dynamic lifestyle. Visit Tampines Hub or Tampines Mall for a shopping spree, while Tampines Round Market is the ideal spot for evening delicacies! Keep up your fitness goals at the various fitness studios close by as well.

Coronation Grove is another 999-year leasehold condo worth mentioning. Located on Coronation Road, a 1,916 sq ft unit on the third floor was sold for $3.6 million ($1,879 psf) on Sept 22. It had been purchased for $1.5 million ($783 psf) in February 2007, giving the seller a profit of $2.1 million (140%), equivalent to an annualised gain of 5.4% over 17 years. This is a record profit at Coronation Grove, surpassing the previous record of $1.46 million set when a 1249 sq ft unit was sold for $2.32 million ($1,858 psf) on July 18.

Coronation Grove comprises 24 units, ranging from 1044 to 2217 sq ft, offering an alternative to the semi-detached housing estate and Good Class Bungalow (GCB) areas that surround it. It is also close to Hwa Chong Institution, Raffles Girls’ Primary School, and National Junior College.

If you’re looking to invest, do check out the latest listings for Orion properties!