The most unprofitable condo resale transaction that took place during the week of April 18 to 25 was recorded at Helios Residences. A two-bedroom-plus-study unit that measured 1,281 sq ft was sold for $3.15 million ($2,459psf) on April 21. The seller had purchased the unit in November 2012 for $4.98 million ($3,890psf), and therefore, suffered a loss of $1.83 million (37%) over a holding period of 10½ years.

Helios Residences has seen three other resale transactions so far this year, all of which have occurred below the original purchase price. On Feb 2, the seller of a 1,281 sq ft unit made a loss of around 859,000 when it fetched $3.08 million ($2,405psf). On March 6, the seller of a 1,916 sq ft unit suffered a loss of approximately $649,000 when their unit changed hands for $4.45 million ($2,323psf). Again, on March 23, another 1,916 sq ft unit was sold for $4.85 million ($2,531psf) and the seller made a loss of $1.08 million.

However, the most unprofitable transaction that has occurred at Helios Residences is the bank sale of a 4,629 sq ft triplex penthouse unit that happened in November 2020. The penthouse was sold for $8.4 million ($1,815psf), which was $6.1 million lower than its purchase price of $14.5 million ($3,133psf).

Conversely, the most profitable condo resale transaction for the same week of review took place at The Marbella in District 10. The 1,475 sq ft unit on the 19th floor was sold for $3.5 million ($2,373psf) on April 24. The seller had purchased the unit from the developer in March 2004 for $1.03 million ($698psf) and hence, netted a gain of $2.47 million (240%) across a holding period of over 19 years.

This resale transaction is the second most profitable at The Marbella and follows the recent record that was set on March 27, when a 1,755 sq ft unit was sold for $3.78 million ($2,154psf). The seller, who purchased the unit in February 2005 for $1.26 million ($720psf), made a profit of $2.52 million.

The Marbella is a freehold development by OUB Centre, a subsidiary of OUE Commercial REIT. Besides being the developer and manager of the One Raffles Place commercial development, OUB Centre has also developed other condos in Singapore such as Modena on Simei Street 4 and Fontaine Parry on Poh Huat Road. Completed in 2005, The Marbella has 239 residences comprising two to four-bedroom units of 1,076 to 4,284 sq ft.

CapitaLand’s J’Den Condo is set to replace JCUBE in Singapore’s Jurong East, featuring 40 residential and commercial stories with price tags of S$2,000 J’Den Condo – S$2,100/sqft and expected completion by 2027.

The second most profitable transaction of the week took place at The Trevose in District 11. The four-bedder, measuring 1,765 sq ft on the second floor, changed hands for $3.1 million ($1,756psf) on April 20. The seller had purchased the unit in February 2004 for $1.03 million ($583psf) and made a profit of $2.07 million (201%) after a holding period of over 19 years.

The Trevose is a 99-year leasehold condo that was completed in 2001. Jointly developed by TID and City Developments, it comprises three low-rise blocks and has 142 residences. Units are a mix of two, three and four-bedders ranging from 958 to 3,627 sq ft. The condo is a 10-minute walk from Stevens MRT Interchange Station on the Downtown and Thomson-East Coast Lines.

All in all, the records for the week of April 18 to 25 prove that the property market still holds profits for those looking for resale transactions.