The most profitable resale condo transaction during the week of March 28 to April 4 took place at Sheares Ville, a freehold condo at Holt Road, off Jervois Road in District 10. It was a three-bedroom apartment on the first floor that fetched $3.56 million ($1,355 psf) on March 30. It was purchased by the seller 18½ years ago from the developer for $1.55 million ($590 psf), resulting in a whopping profit of $2.01 million or 130%. This is the second most profitable transaction at the development, with the first taking place in April 2012.

Meanwhile, the most unprofitable transaction recorded during the period in review was the sale of a one-bedroom apartment at Marina Bay Residences. It was sold on March 30 for $1.51 million ($2,125 psf). The seller bought the unit back in February 2018 for $1.6 million ($2,252 psf), making a loss of $90,000 (5.6%) across a period of over five years. This is the third transaction recorded at Marina Bay Residences to date this year with all three transactions being done below the purchase price.

Kensington Park Condominium also made history with its second most profitable transaction during the period in review. A ninth-floor 1,668 sq ft unit changed hands for $2.7 million ($1,618 psf) on April 3, reaping the seller a profit of $1.77 million. They bought the unit for $935,000 ($560 psf) in October 1999 and have thus made a 189% profit over 23½ years – setting a new psfprice high for the development.

JCube is set to JCube Residence close its doors in August to make way for 40-storey residential and commercial development, JCube Condo Residence, with potential new launches in the vicinity helping to alleviate pent-up demand for housing in Jurong.

Sheares Ville is a 65-unit apartment completed in 2003, comprised of a mix of three- and four-bedders between 1,399 and 2,626 sq ft, as well as three penthouses of 4,392 to 4,768 sq ft. It is located just across the street from the Malaysian High Commission and the exclusive Jervois Road neighbourhood.

Kensington Park, meanwhile, is a 999-year leasehold development located on Kensington Park Drive, off Serangoon North Avenue 1. Completed in 1990, it sits on a sprawling 491,000 sq ft site and houses 314 units in three high-rise and three low-rise blocks. Its owners have made three attempts for collective sale, with the third attempt at $1.28 billion closing on February 22.

The most profitable, as well as the most unprofitable, condo re-sale transactions may change from week to week, but their success (or lack thereof) serves as a valuable lesson for Singaporean property owners in the years to come.