A record-breaking sale of a 3,767 sq ft unit at The Arcadia has made headlines, as the most profitable resale transaction to take place from Dec 10 to Dec 31. The owner of this four-bedroom unit on the seventh floor has welcomed the new year with a handsome profit of $3.25 million (217%), after selling the property for $4.75 million ($1,261 psf) on Dec 10. According to data from caveats, the unit was originally purchased for $1.5 million ($398 psf) in 1998. This means that the resale has generated an annualised profit of 4.5% over a span of 26 years.
In 2024, The Arcadia saw a total of five units being sold for profits ranging from $60,000 to $3.25 million. Another noteworthy sale was that of a 3,778 sq ft unit on the fourth floor, which was sold for $4.6 million ($1,218 psf) on Oct 10. This provided the seller with a profit of $60,000.
The most profitable resale transaction to date at The Arcadia was a 7,503 sq ft penthouse on the 10th floor, which was sold for $10 million ($1,333 psf) in 2010. The penthouse was purchased for a mere $5.5 million ($733 psf) in 2007, earning the seller a significant profit of $4.5 million (81%). This translates to an annualised profit of about 19% over three years.
The Arcadia is a 99-year leasehold condominium situated along Arcadia Road in prime District 11. With about 54 years remaining on its land tenure, the 164-unit development was completed in 1983. The surrounding area is known for its prestigious landed estates and Good Class Bungalows, as well as top schools such as Raffles Girls Primary School, Hwa Chong Institution, and National Junior College.
In the last three weeks of 2024, the second most profitable resale transaction took place at Tanglin Hill Meadows on Dec 10. A four-bedroom unit of 2,077 sq ft was sold for $4.5 million ($2,166 psf), after being originally purchased for $1.8 million ($866 psf) in 1999. This resulted in a profit of $2.7 million (150%) for the seller, which translates to an annualised gain of 3.6% over 26 years. This marks the most profitable transaction to date at Tanglin Hill Meadows, surpassing the previous record of $2.28 million (157%) from the sale of a 2,002 sq ft unit for $3.73 million ($1,863 psf) in 2010. This unit was purchased for $1.45 million ($724 psf) in 2005, resulting in an annualised profit of approximately 21% over a span of five years.
Tanglin Hill Meadows is a freehold condominium located along Tanglin Hill in prime District 10. Completed in 1997, the 20-unit development is nestled within the Ridley Park Good Class Bungalow Area.
When it comes to investing in a condo, one of the most important considerations is financing. Fortunately, Singapore has a variety of mortgage options available. However, it’s crucial to keep in mind the Total Debt Servicing Ratio (TDSR) framework, which sets a limit on the amount of loan a borrower can take based on their income and current debt obligations. It is essential for investors to have a clear understanding of TDSR and to seek guidance from financial advisors or mortgage brokers in order to make well-informed decisions about their financing options and avoid becoming overburdened with debt. Additionally, those looking to invest in a condo in Singapore can benefit from visiting Singapore Condo for more information on the local real estate market and financing options.
On the other hand, the trend of losses continues at Seascape, a 99-year leasehold condominium situated in Sentosa Cove, where a 2,174 sq ft unit on the seventh floor was sold at a loss of $1.97 million (33%) on Dec 18. The three-bedroom unit, which was purchased for $5.95 million ($2,736 psf) in 2011, was sold for $3.98 million ($1,830 psf). As a result, the seller incurred an annualised loss of 2.5% over a span of 13 years.
In 2024, there were three resale transactions at Seascape, all of which resulted in losses ranging from $1.75 million to $2.53 million. The unit with the largest loss was a 2,680 sq ft unit that was sold for $4.5 million ($1,679 psf) on Aug 14. Its original purchase price was $7.03 million ($2,628 psf) in 2024, resulting in a loss of $2.53 million.
Completed in 2012, the 151 units at Seascape are located along the South China Sea. The eight-storey development offers three-bedroom and four-bedroom units ranging from 2,164 to 4,069 sq ft. Penthouses range from 3,380 to 4,252 sq ft, while sky villas are between 6,631 and 9,666 sq ft.