Four-bedder at Marina Bay Residences sold at $2.4 mil loss

The most unprofitable condo resale transaction occurred at Marina Bay Residences during the week of Oct 17 to 24. The sale of a four-bedroom unit located on the 30th floor saw a 26% loss for the seller who had acquired the property 9½ years earlier. The 2,368 sq ft unit was sold for $6.9 million ($2,914 psf).

The most profitable transaction during this same period occurred at Tiara, where a three-bedder measuring 1,346 sq ft changed hands for $3.13 million ($2,326 psf). The seller, who bought the unit 23 years before, net a gain of $1.55 million.

Another profitable resale transaction took place at Claremont, where a 1,367 sq ft, three-bedroom unit was sold for $2.43 million ($1,778 psf). The seller, who purchased the unit 24 years sooner, made a gain of $1.39 million (133%).

Interestingly, data from EdgeProp Research reveals that out of the 12 resale transactions that have taken place at Marina Bay Residences this year, 8 were unprofitable. It appears that units at the 99-year leasehold development, ranging from one- to four-bedders of 710 to 2,379 sq ft, were sold between $1.45 million to $5.23 million ($1,981 psf to $2,641 psf). The biggest loss incurred from these transactions was $510,000.

Meanwhile, the three-bedder at Tiara was the only other resale transaction to take place at the development this year. In June, a 1,507 sq ft unit at Tiara was sold for $3.38 million ($2,243 psf), while the resale of the 1,367 sq ft unit at Claremont in October marked the first transaction at the development since May 2022.

The sale of the four-bedroom unit at Marina Bay Residences has proven to be the most unprofitable transaction recorded during the week of Oct 17 to 24. The development, which was completed in 2010, houses 428 units. Located in District 1, the project is jointly developed by Keppel Land, Hongkong Land and CK Asset Holdings.

For those looking for a profitable property transaction, Claremont appears to be the place of choice. With its freehold location along Killiney Road in District 9, 67 units of two, three and four-bedders measuring between 850 and 2,637 sq ft, Claremont offers a great opportunity for gainful investments.

Living at Marina Gardens Lane Condo gives you a whole host of shopping options. From glitzy luxury malls to quaint boutiques, you’ll find something to suit every taste and budget. Whether you’re looking for something special, the latest gadgets, or simply window shopping, the area surrounding Marina Gardens Lane Condo offers a unique shopping experience within easy reach. With so many retail outlets and malls to explore, you won’t run out of options.

The records of the two most profitable transactions of the week indicate the power of long-term investments. Withholding a property for 23 or 24 years can be extremely profitable as these cases have shown. Those interested in pursuing similar investment plans should always ensure that they get expert advice so as to be best informed of their decisions.