The sale of a three-bedroom penthouse at the freehold Orchid Mansion on Amber Road in District 15 on December 31, 2024, resulted in a whopping profit of $2.58 million, making it the most profitable resale transaction during that period. The unit was sold for $4.88 million, translating to $1,717 per square foot. This was a significant increase from its purchase price of $2.3 million in March 2009, which was equivalent to $809 per square foot. This transaction, which took nearly 16 years, represents an annualized profit of 4.9%. This sale also sets the record for the most profitable resale transaction at Orchid Mansion, surpassing the previous record of $1.15 million (72.6%) in July 2022, when a 1,507 sq ft three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf). The unit had been bought in June 2007 for $1.58 million ($1,050 psf). The second most profitable resale transaction recorded during the same period was at Villa Marina, where a 1,625 sq ft unit on the ground floor was sold for $2.35 million ($1,446 psf) on January 3, 2025. The three-bedroom unit was purchased in September 2006 for $630,500 ($388 psf), resulting in a profit of $1.72 million (273%) for the seller. This translates to an annualized profit of 7.6% over 18 years. This sale also broke the previous record for the most profitable transaction at Villa Marina, which was a 1,916 sq ft unit on the fourth floor that was sold for $2.3 million ($1,200 psf) on July 16, 2024. The unit was previously purchased for $720,416 ($376 psf) in November 1998. Villa Marina, a 99-year leasehold development at Jalan Sempadan in District 15, comprises 27 residential blocks with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. It is located near Siglap MRT station and East Coast Park, as well as several top primary schools. The most unprofitable resale transaction during the same period was the sale of a 1,130 sq ft unit at Marina Bay Residences, which resulted in a loss of $386,000 (16%). The unit, located on the 17th floor, was sold for $2.1 million ($1,858 psf) on January 2, 2025, but was purchased for $2.49 million ($2,200 psf) in November 2007. This translates to an annualized loss of 1% over 17 years. Based on resale caveats, Marina Bay Residences recorded 25 transactions in 2024, with 13 of them resulting in losses ranging from $1.25 million to $43,600. The condo recently underwent a $5 million renovation from January 2022 to September 2023, and boasts premium facilities and amenities. It is one of two 99-year leasehold luxury condos in Marina Bay Financial Centre, which includes three Grade-A office towers, as well as the 221-unit Marina Bay Suites. With its prime location and numerous amenities, Orchid Mansion remains a highly desirable freehold development in District 15.
