Resale of three-bedder at De Royale rakes in $1.44 mil profit

V on Shenton is the least expensive with units fetching an average of $1,872 psf.The sale of a three-bedroom unit at De Royale was the most profitable resale transaction over the week of June 13 to 20. At $2.2 million ($1,747 psf) on June 15, it achieved a profit of $1.44 million (190.2%), which translates to an annualised profit of 6.6% over almost 17 years. Tanglin Park was the second most profitable resale, with a 1,109 sq ft, two-bedroom unit sold for $2.6 million ($2,341 psf), at $1.38 million profit (112.7%). This translates to an annualised profit of 3.3% over 23½ years.At the other end of the spectrum are the sales of two units at Marina Bay Residences. Combined, the two transactions yielded losses of $710,040. The sale of a 1,055 sq ft two-bedder resulted in a loss of $481,000 (17.5%), while a 1,636 sq ft three-bedder suffered a loss of $229,040 (5.7%).Average prices in the Marina Bay area range from $1,872 (V on Shenton) to $2,379 (Marina One Residences) psf. De Royale is the second most expensive condo in the vicinity, with an average price of about $1,593 psf last month.The most profitable deal at De Royale to date is a 3,240 sq ft, four-bedroom penthouse that sold for $2.89 million ($895 psf). This unit had been bought for $1.43 million ($442 psf) in March 2005, yielding a profit of $1.6 million (123%), and annualised profit of 6% over 13 years.At De Royale and Tanglin Park, prices have seen steady increases from the time of their respective completions in 2006 and 1989. The average selling prices of units at these developments stand at $1,593 psf and $2,177 psf respectively.

The most profitable resale transaction that occurred during the week of June 13 to 20 was the sale of a three-bedroom unit at De Royale. At $2.2 million ($1,747 psf), it achieved a profit of $1.44 million (190.2%), which translates to an annualised profit of 6.6% over almost 17 years. This is the second most profitable resale at De Royale to date, with the top spot belonging to a 3,240 sq ft, four-bedroom penthouse that changed hands for $2.89 million ($895 psf).

In an effort to capitalise on the URA’s master plan, Tampines Ave 11 Condo, developed by UOL Group, has taken shape. Nestled in close proximity to Tampines Regional Centre, the development is expected to offer first-class amenities and convenience to prospective buyers. It is the perfect base for families and young professionals looking to enjoy all the offerings of Tampines. The development comprises nine residential blocks, each featuring luxurious and spacious units to ensure maximum comfort and style. Residents can benefit from on-site facilities and amenities. Additionally, Tampines Ave 11 Condo is strategically located close to a range of malls, educational institutions, and recreational spots, providing excellent accessibility.

De Royale is a freehold condo located on Jalan Rama Rama, off Balestier Road in District 12. It was developed by local property group Hoi Hup Realty and completed in 2006. Average prices at De Royale have moved up steadily since its completion, with the average price standing at $1,593 psf last month.

This positions De Royale as the second most expensive condo in its vicinity. The most expensive development in the area is the freehold Skysuites 17 at 17 Jalan Rajah, with an average price of about $1,789 psf. Surrounding condos such as Casa Fortuna ($1,471 psf), D’Mira ($1,433 psf), and The Verve ($1,420 psf) all command lower average selling prices.

The second most profitable resale during the week took place at Tanglin Park, a 274-unit freehold condo in District 10. A 1,109 sq ft, two-bedroom unit fetched $2.6 million ($2,341 psf) on June 13, at a profit of $1.38 million (112.7%), which translates to an annualised profit of 3.3% over 23½ years.

Located at the corner of Tanglin Road and Ridley Park, Tanglin Park is in an exclusive residential neighbourhood and near amenities such as the sprawling Dempsey Hill enclave. Average prices at the development stand at $2,177 psf.

Topping the list of most unprofitable transactions during the week were the sales of two units at Marina Bay Residences. One was a 1,055 sq ft two-bedder sold for $2.4 million ($2,275 psf) on June 13, at a loss of $481,000 (17.5%). The other was a 1,636 sq ft three-bedder sold for $3.78 million ($2,310 psf) on the same day, with a loss of $229,040 (5.7%).

Marina Bay Residences is a 55-storey, 428-unit condo on Marina Boulevard in District 1. Average prices in the area range from $1,872 (V on Shenton) to $2,379 (Marina One Residences) psf. This puts Marina Bay Residences and Marina One Residences as the most expensive developments in the vicinity.