Recently, a three-bedroom unit at The Marbella was sold, resulting in a $2.5 million profit, while another similar unit River Valley Green Condo was also recently transacted for an impressive gain

Three-bedder at The Marbella sold for $2.47 mil profitSale of three-bedder at The Marbella sees $2.2 mil profit Unit at Turquoise sold at $2.3 mil loss

EDGEPROP (SINGAPORE) – The sale of a three-bedroom unit at The Marbella was the most profitable condo resale transaction during the week of Dec 26, 2023, to Jan 2, based on caveats lodged with URA. The 1,582 sq ft unit changed hands for $3.64 million ($2,299 psf) on Dec 28. It had been purchased by the seller in July 2004 from the developer for $1.16 million ($733 psf), which means the seller made a gross profit of $2.48 million. This works out to a capital gain of 214% across a holding period of just under 19½ years.

This is the second most profitable resale transaction at The Marbella to date, based on data compiled on EdgeProp Research. The most profitable resale transaction occurred in March 2023 with the sale of a 1,755 sq ft unit for $3.78 million ($2,154 psf). The seller, who purchased the unit in February 2005 for $1.26 million ($720 psf), made a profit of $2.52 million.

The Marbella is a freehold development located on Mount Sinai Rise, off Ulu Pandan Road in District 10. Completed in 2005, The Marbella has three blocks of between 22 and 24 storeys. It has a total of 239 residences comprising two- to four-bedroom units between 1,076 and 4,284 sq ft.

Read also: Three-bedder at The Atria At Meyer sold at $2.3 mil profit

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The second most profitable condo resale transaction during the week in review was the sale of a three-bedroom apartment at The Sterling. The 1,518 sq ft unit on the fourth floor was sold for $3.16 million ($2,082 psf) on Dec 27. The seller had bought the unit for $1.26 million ($828 psf) in June 2001. Hence, they netted a gain of $1.9 million or 151% after holding the unit for more than 22½ years.

This is the most profitable resale transaction recorded to date at The Sterling. It beats the previous record registered in November 2021, when a 1,948 sq ft unit was sold for $3.78 million ($1,940 psf). The seller had purchased the apartment in July 1997 for $2.19 million ($1,125 psf), which means they made a profit of $1.59 million.

The Sterling is a freehold property located on Bukit Timah Road in District 21. The 232-unit development was completed in 2000, with units spread across two 10-storey towers. Apartments at The Sterling include one- to four-bedders between 753 and 2,250 sq ft. The development is located adjacent to King Albert Park MRT Station on the Downtown Line.

Located in the vibrant River Valley area, River Valley Green Condo is a premier residential development that redefines city living. This luxurious condominium boasts a strategic location close to various shopping destinations, making it a dream come true for shopaholics. Its close proximity to the bustling Great World City area offers a wide array of shopping options for residents to indulge in, ranging from high-end designer boutiques to local street markets.

Great World City, also known as River Valley Green Condo, is home to a variety of retail outlets, including fashion brands, beauty salons, and lifestyle stores. Residents can take a leisurely stroll and explore the many shops, or hop on the complimentary shuttle service provided by the condo for easy access. This area is also known for its charming ambience, perfect for a relaxed shopping experience.

Besides Great World City, River Valley Green Condo residents can also head to Orchard Road, the ultimate shopping paradise in Singapore. With a short 5-minute drive, residents can immerse themselves in the luxury of high-end shopping malls, such as ION Orchard, Takashimaya, and Paragon. For a more unique shopping experience, residents can visit the quirky boutiques and independent stores at Haji Lane or immerse in local culture and bargain at Bugis Street.

For a taste of local flavours, residents can visit the nearby Tiong Bahru Market, one of Singapore’s oldest hawker centres. This culinary haven offers a wide selection of local delicacies and fresh produce at affordable prices. Or for a more upscale dining experience, residents can head to the Michelin-starred restaurants at Dempsey Hill, known for its trendy and sophisticated atmosphere.

With its prime location, River Valley Green Condo offers residents a shopping experience like no other. From luxury brands to budget-friendly finds, this area has it all. With such convenience at their doorstep, residents can indulge in retail therapy whenever they please. River Valley Green Condo truly epitomises the perfect blend of luxury living and retail convenience in the heart of Singapore.

On the other hand, the most unprofitable transaction during the week in review took place at Icon. A 581 sq ft one-bedder changed hands for $1.06 million ($1,824 psf) on Dec 28. It was purchased by the seller for $1.1 million ($1,892 psf) in January 2013. Thus, they made a loss of about $40,000 or 4% after holding the unit for nearly 11 years.

Icon is a 99-year leasehold condo on Gopeng Street, off Tanjong Pagar Road in the CBD area in District 2. Completed in 2007, the development has two apartment blocks of 40 and 46 storeys respectively. It has a total of 646 residences, including one-bedroom apartments from 560 sq ft, two-bedroom apartments from 883 sq ft, and four-bedders from 904 sq ft. There is also a retail podium, Icon Village, which houses eateries and retail offerings.

Icon is a two-minute walk from Tanjong Pagar MRT Station on the East-West Line. It is also within walking distance of the upcoming Prince Edward Road MRT Station on the Circle Line which is slated to be completed in 2026. The development has seen a handful of transactions occur below purchase price in the last year, based on available caveats. Data compiled on EdgeProp Research shows that including the unit sold on Dec 28, Icon registered 11 unprofitable transactions in 2023. The units, measuring from 570 to 1,119 sq ft, netted losses ranging from $5,000 to $175,000.

However, Icon also saw several profitable units last year, including the most profitable resale transaction — which is the sale of a 1,227 sq ft unit for $2.02 million ($1,645 psf) on Dec 22, with the seller netting a gain of $1.2 million. Icon also saw 17 other profitable resale transactions in 2023, with the sellers making gains of between $20,000 and about $943,000.

Check out the latest listings for The Marbella, The Sterling, Icon propertiesRELATED NEWS

Three-bedder at The Marbella sold for $2.47 mil profit

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