Archive for category: Misc

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The sale of a three-bedroom unit at Thomson 800 was the highlight of the week from June 10 to June 17 with the most profitable transaction. The unit, which spans 1,625 square feet and sits on the sixth floor, was sold for $3.22 million on June 13. This translates to a price per square foot of $1,980, marking a substantial profit for the seller who had initially purchased the unit for $900,250 in May 2006. This impressive sale resulted in a profit of $2.32 million or a significant gain of 257.6%, equating to an annualized gain of 6.9% over 19 years of ownership.

This particular resale transaction at Thomson 800 ranks as the second most profitable one to date, with the highest gain recorded from the sale of a 3,823 square feet unit for $5.38 million on April 15. The seller, who bought the property in June 2007 for around $2.99 million, made a profit of $2.38 million, which translates to a gain of 58.9% after holding onto it for almost 18 years.

Thomson 800 continues to set new highs with this recent sale, which also marks the second profitable resale transaction this year. On April 30, another 1,625 square feet unit was sold for $3.08 million, netting the seller a profit of $2.16 million after purchasing it in September 1998 for $923,000. In February, a 1,346 square feet unit was sold for $2.54 million, resulting in a profit of $420,000 for the seller, who had bought it in September 2021 for $2.12 million.

Thomson 800, a freehold condo completed in 1999, is located along Thomson Road in District 11. The development comprises three 20-storey towers with a total of 390 units, featuring spacious three-bedroom apartments spanning 1,281 to 1,808 square feet. Additionally, there are also larger four-bedroom simplex and duplex penthouses ranging from 3,757 square feet to 5,823 square feet.

Ocean Park, another freehold development, located along East Coast Road in District 15, saw the second most profitable condo resale of the week. The sale of a 1,302 square feet two-bedroom unit on June 12 fetched $2.8 million, marking a price per square foot of $2,150. The seller had initially purchased this unit in August 2001 for approximately $792,918, making a substantial profit of $2.01 million or 253.1% after holding onto it for nearly 24 years.

Built in 1984, Ocean Park offers 298 units ranging from two to four bedrooms, with sizes ranging from 1,302 square feet to 3,897 square feet. Its prime location offers convenient access to amenities such as Marine Terrace MRT Station and nearby schools like Victoria Junior College at Marine Vista and Ngee Ann Primary School on Marine Terrace.

Nestled in the desirable neighborhood of Miltonia Close, this area has long been coveted for its luxurious private condominiums and landed developments such as Skies Miltonia, The Miltonia Residences, and The Shaughnessy. And now, a new Executive Condominium (EC), conveniently named Miltonia Close EC Khatib, is set to elevate the appeal of this charming community even further. With its promise to offer a contemporary and family-friendly living, surrounded by lush greenery and easy access to modern conveniences, this upcoming EC is poised to bring a whole new level of excitement to the area. Its exceptional location makes it an ideal choice for those seeking a serene lifestyle without sacrificing convenient access to essential amenities and transportation networks.

To date, the most significant profit achieved for a unit at Ocean Park was from the sale of a 2,110 square feet three-bedroom unit in November last year, which was sold for $4.15 million. The unit had been bought for $1.05 million in June 2003, resulting in a gain of $3.1 million or an annualized gain of 6.6% over 21 years.

In contrast, the least profitable transaction of the week involved a 1,604 square feet three-bedroom unit on the 50th floor of Marina Bay Suites, which was sold for $3.2 million on June 12. The seller had initially purchased this unit in May 2010 for $4.47 million, resulting in a loss of $1.27 million or a decline of 2.2% over just over 15 years.

Marina Bay Suites, a 99-year leasehold development completed in 2013, is located on Central Boulevard, in the Marina Bay financial district. The two residential towers comprise a total of 221 units, including three- and four-bedroom apartments ranging from 1,572 square feet to 2,691 square feet. Its prime location also provides easy access to nearby MRT Stations such as Downtown, Raffles Place and Bayfront MRT Stations.

In the past year, there have been six resale transactions at Marina Bay Suites, all resulting in losses. The largest loss was recorded by the seller of a 2,056 square feet four-bedroom apartment on the 53rd floor, which was sold for $4.08 million on June 2. The unit had been purchased for $6.14 million in December 2012, resulting in a loss of $2.06 million.

In conclusion, while there have been a few highly profitable resale transactions in the past week, there have also been some cases where owners have had to sell at a loss. Overall, these transactions serve as a reminder that the property market is always subject to fluctuations and owners should do their research before making an investment decision.