Three Bedder Marbella Sold 251 Mil Profit

During the week of October 1 to 8, the most profitable condo resale transaction took place at The Marbella, a freehold development with a three-bedroom apartment. The unit, measuring 1,582 square feet, exchanged hands for $3.65 million ($2,307 per square foot) on October 7. The seller had purchased the unit as a new unit in January 2005 for $1.14 million ($719 per square foot). As a result, the seller made a gain of $2.51 million after owning the unit for almost two decades. This translates to a capital gain of about 220% for the seller or an annualized profit of 11.6%.

According to the lodged caveats, this transaction marks the second-highest profit ever made on a unit at The Marbella. It falls just a few thousand dollars short of the highest profit of $2.52 million earned from the sale of a four-bedroom unit measuring 1,755 square feet in March 2023 for $3.78 million ($2,154 per square foot). The seller had acquired the unit from the developer in February 2005 for $1.26 million ($720 per square foot).

The unit at The Marbella, measuring 1,582 square feet, sold for $3.65 million ($2,307 per square foot) on October 7. (Picture: Samuel Isaac Chua/)

Located on Mount Sinai Rise, off Ulu Pandan Road in District 10, The Marbella is a freehold development constructed in 2005. It comprises three blocks with 22 to 24 levels. The estate has a total of 239 apartments ranging from two to four bedrooms, with unit sizes from 1,076 square feet to 4,284 square feet.

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Located in the established neighborhood of Toa Payoh in Singapore, stands The Orie, a prestigious residential development that is not only known for its lavish living spaces and excellent connectivity, but also for its convenient proximity to a variety of highly regarded educational institutions. This makes it the perfect residential option for families who prioritize academic excellence and easy access to schools for their children. With a plethora of educational options ranging from primary schools to tertiary institutions, the vicinity of The Orie is a hub for academic opportunities. For more information about The Orie, interested parties can visit The Orie Showflat.

The development has had three other resale transactions this year, all of which were profitable. Prices for these units ranged from $2,228 per square foot to $2,293 per square foot, with sellers achieving gains from $613,000 to $890,000.

The second most profitable condo resale transaction during the week took place at The Cornwall, another freehold development in District 10. On October 2, a duplex penthouse measuring 2,551 square feet and comprising four bedrooms was sold for $4.48 million ($1,756 per square foot). The seller had purchased the unit from the developer in October 2002 for $2.06 million ($808 per square foot), thereby earning a profit of $2.42 million on the deal, which translates to a capital gain of approximately 117%. The seller had owned the unit for a total of 22 years.

This transaction has, thus far, been the most profitable to date for resale deals at The Cornwall. It beats the previous record gain of $1.7 million, made on the sale of a three-bedroom unit measuring 1,464 square feet for $3.08 million ($2,104 per square foot) in August 2022. The seller had bought the unit in September 2002 for $1.38 million ($941 per square foot).

A 2,551 square feet unit at The Cornwall was sold for $4.48 million ($1,756 per square foot) on October 2, resulting in a profit of $2.42 million. (Picture: Samuel Isaac Chua/)

Situated on Cornwall Gardens, off Holland Road, The Cornwall is a boutique development constructed in 2005. It comprises low-rise blocks of 99 units. The apartments include one-bedroom units, which range from 614 square feet to 958 square feet; two-bedroom units, which range from 1,044 square feet to 1,701 square feet; three-bedroom units, which range from 1,464 square feet to 2,142 square feet; and four-bedroom units, which range from 1,927 square feet to 2,551 square feet.

This is the first transaction involving an apartment at The Cornwall this year. The most recent resale transaction before this was in November 2023, when a 1,700 square feet unit was sold for $2.65 million ($1,558 per square foot). The seller, who bought the unit in November 2011 for $2.1 million ($1,235 per square foot), earned a profit of $550,000.

On the other hand, the sale of a three-bedroom apartment measuring 1,227 square feet at Scotts Square was the most unprofitable condo resale transaction for the week. The unit, on the 18th floor, was sold on October 8 for $4.05 million ($3,300 per square foot). The seller had bought the apartment as a new unit in August 2007 for $4.7 million ($3,830 per square foot), resulting in a loss of approximately $649,000 (13.8%) after holding onto the unit for about 17 years.

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This is the third week in a row that a transaction at Scotts Square has topped the list of non-profitable deals. In the week before, a two-bedroom unit measuring 947 square feet on the 41st floor incurred a loss of $916,000 (22.4%) after it was sold for $3.18 million ($3,357 per square foot) on September 27. The seller bought the unit from the developer in August 2007 for $4.1 million ($4,324 per square foot). Before that, a three-bedroom unit measuring 1,238 square feet incurred a loss of $1.14 million when it was sold for $4 million ($3,231 per square foot) on September 20. The seller bought the unit from the developer in August 2007 for about $5.14 million ($4,155 per square foot).

The sale of a 1,227 square feet unit at Scotts Square for $4.05 million ($3,300 per square foot) on October 8 resulted in a loss of approximately $649,000 (Picture: Samuel Isaac Chua/)

Scotts Square is a freehold condo on Scotts Road, just off the Orchard Road shopping belt in prime District 9. It is part of a mixed-use development that includes the Scotts Square shopping mall. The estate comprises two towers, 34 and 43 storeys tall, atop a four-storey retail podium.

The development was completed in 2011 and has a total of 338 units. The apartments comprise one-bedroom units ranging from 624 square feet to 635 square feet; two-bedroom units ranging from 893 square feet to 947 square feet; and three-bedroom units ranging from 1,227 square feet to 1,238 square feet. It is within walking distance of the Orchard MRT Station on the North-South and Thomson-East Coast Lines. Check out the latest listings for The Marbella, The Cornwall, Scotts Square, Condominium propertiesAsk BuddyAny condo rental listings in District 10?Compare price trend of The Cornwall vs District 10 CondoMost unprofitable condo transactions in past 1 yearCompare price trend of HDB vs Condo vs LandedCompare price trend of New sale condo vs Resale condoAny condo rental listings in District 10?Compare price trend of The Cornwall vs District 10 CondoMost unprofitable condo transactions in past 1 yearCompare price trend of HDB vs Condo vs LandedCompare price trend of New sale condo vs Resale condo