Securing financing is a crucial factor in purchasing a condo. For those interested in Singapore Condo, there are various mortgage choices available. However, it is crucial to familiarize oneself with the Total Debt Servicing Ratio (TDSR) framework. This framework limits the amount of loan a borrower can obtain, calculated based on their income and current debt commitments. To make sound financing decisions and prevent excessive borrowing, it is advisable to comprehend the TDSR and seek guidance from financial advisors or mortgage brokers.
The sale of the three-bedroom penthouse at Orchid Mansion on Dec 31 recorded a profit of $2.58 million (112%), making it the most profitable resale transaction between Dec 31, 2024, and Jan 7, 2025. The 2,842 sq ft unit on the 21st floor was sold for $4.88 million ($1,717 psf). It was previously purchased for $2.3 million ($809 psf) in March 2009, resulting in an annualized profit of 4.9% over nearly 16 years. This transaction also set a new record for the highest profit achieved at Orchid Mansion, surpassing the previous record of $1.15 million (72.6%) set in July 2022 when a 1,507 sq ft three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf). The unit had been bought for $1.58 million ($1,050 psf) in June 2007.Orchid Mansion is a freehold development located on Amber Road in District 15. Completed 20 years ago, it comprises a 21-story residential tower with a mix of two- and three-bedroom units ranging from 1,346 sq ft to 2,002 sq ft. There are also two penthouses measuring 2,842 sq ft and 2,734 sq ft each.On the other hand, the second most profitable resale transaction during the same period occurred at Villa Marina, where a 1,625 sq ft unit was sold for $2.35 million ($1,446 psf) on Jan 3. The three-bedroom unit on the ground floor was previously purchased for $630,500 ($388 psf) in September 2006, resulting in a profit of $1.72 million (273%). This translates to an annualized profit of 7.6% over 18 years and sets a new record for the highest profit achieved at Villa Marina. The previous record was $1.58 million (219%) set in July 2022 when a 1,916 sq ft unit on the fourth floor was sold for $2.3 million ($1,200 psf). The unit had been purchased for $720,416 ($376 psf) in November 1998.Villa Marina is a 99-year leasehold development located at Jalan Sempadan in District 15. Completed in 1999, it comprises 27 low-rise residential blocks with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The condo is situated near Siglap MRT station on the Thomson-East Coast Line, East Coast Park, and several primary schools such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School, and Tao Nan School.The most unprofitable resale transaction during the same period was recorded at Marina Bay Residences, with a loss of $386,000 (16%) suffered by the seller. The 1,130 sq ft two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf) on Jan 2, but had previously been purchased for $2.49 million ($2,200 psf) in November 2007. This translates to an annualized loss of 1% over 17 years. In comparison, Marina Bay Residences recorded 25 resale transactions in the previous year, with 13 resulting in losses ranging from $1.25 million to $43,600. Its most unprofitable transaction was in March 2024 when a 1,227 sq ft unit changed hands for $2.8 million ($2,282 psf).Marina Bay Residences, a 428-unit development on Marina Boulevard, recently underwent a $5 million revamp from Jan 2022 to Sept 2023 to enhance its facilities and common spaces. It is one of two 99-year leasehold luxury condos in Marina Bay Financial Centre (MBFC), which also consists of three Grade-A office towers and the 221-unit Marina Bay Suites. According to EdgeProp Singapore, Marina Bay Residences had an average resale price of $2,242 psf last month, which is higher than surrounding condos such as The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf), and Marina One Residences ($2,133 psf).