JCube Condo Residence white site to be sold to master developer, who will develop 375,000 sq m GFA in the next 5-10 Former JCube Condo years, including 1,760 private homes, 150,000 sq m office space, and 75,000 sq m for retail/hotel/community.

At The Marbella, a condo located on Mount Sinai Rise in District 10, the most profitable condo resale transaction was recorded during the week of April 18 to 25. The 1,475 sq ft unit on the 19th floor was sold for $3.5 million, which translates to a price of $2,373 psf. Originally purchased by the seller in March 2004 for $1.03 million ($698 psf), the seller netted a profit of $2.47 million, or 240%, after holding on to the apartment for over 19 years.

Since its completion in 2005, The Marbella has seen five other transactions that have marked a new psf-price high for the condo. Amongst these, the most profitable occurred on March 27 when a 1,755 sq ft unit was sold for $3.78 million ($2,154 psf). The seller who had purchased the unit in February 2005 for $1.26 million ($720 psf), made a whopping $2.52 million profit from the transaction.

The second most profitable condo resale transaction for the week under review was recorded at The Trevose, a 99-year-leasehold condo located on Trevose Crescent, off Dunearn Road and Whitley Road in District 11. The four-bedder, measuring 1,765 sq ft and located on the second floor, changed hands for $3.1 million ($1,756 psf) on April 20. Having purchased the unit in February 2004 for $1.03 million ($583 psf), the seller earned a gain of $2.07 million (201%).

At Helios Residences, the most unprofitable transaction was recorded. A two-bedroom-plus-study unit measuring 1,281 sq ft was sold for $3.15 million ($2,459 psf) on April 21; this was $1.83 million (37%) lower than its purchase price of $4.98 million ($3,890 psf) in November 2012. This marks the second most unprofitable transaction for the condo in 2021.

Helios Residences is a 140-unit freehold development by Wing Tai Holdings, located along Cairnhill Circle in District 9. Units at the development are primarily two- and three-bedroom apartments of 1,281 to 2,002 sq ft. Last November, the most unprofitable transaction to date occurred when a triplex penthouse unit was sold for $8.4 million ($1,815 psf), which was a whopping $6.1 million lower than its purchase price of $14.5 million ($3,133 psf).

The most profitable and unprofitable condo resale transactions in Singapore over the week of April 18 to 25 serve as a reminder of the immense risk and rewards that property investment brings. While it is possible to make huge gains, sellers should unfortunately also be prepared for the possibility of suffering substantial losses.