A five-bedroom penthouse at Horizon Towers has emerged as the most profitable resale deal for the week of Aug 12–19. Sold for $6.6 million with a record profit of $5.1 million (340%), the seller walked away with a significant gain of $1,283 per square foot. The penthouse, which spans 5,145 square feet, was previously purchased in 2004 for just $1.5 million, resulting in an annualized gain of 7.1% over a 21.5-year holding period.
This transaction has broken the previous record at Horizon Towers, which was set in March this year. That deal involved a 2,616 square feet unit on the 10th floor that was sold for $3.7 million, resulting in a profit of $2.7 million (270%) for the seller who had bought the apartment for $999,312 in 2004. This translated to an annualized return of 6.5% over 20 years.
This year, all 12 resale transactions at Horizon Towers have been profitable, with gains ranging from $118,818 to $5.1 million. Notable deals include a 2,486 square feet unit on the fifth floor sold for $3.4 million and a 2,583 square feet unit on the 14th floor that fetched $3.75 million. The average price at Horizon Towers, based on a compilation of resale caveats by EdgeProp Singapore, is about $1,370 per square foot.
Meanwhile, the second most profitable transaction for that week was the sale of a three-bedroom unit at Maple Woods, which was purchased for $1.28 million in 1995 and sold for $4.06 million ($2,272 psf) in 2025. This resulted in a profit of $2.78 million (212%), translating to an annualized gain of 3.9% over a 30-year holding period. All 10 resale transactions at Maple Woods this year have been profitable, with the highest profit recorded at $5.45 million for a 2,551 square feet unit.
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On the other end of the spectrum, the most unprofitable transaction for the week was at Marina Bay Residences, where the seller of a 2,379 square feet unit on the 17th floor incurred a loss of $3.23 million (39%). The unit was sold for $5.1 million ($2,144 psf) on Aug 15, having previously been purchased for $8.33 million ($3,500 psf) in June 2022. This translates to an annualized loss of 14% over a three-year holding period.
Marina Bay Residences is located in the Marina Bay Financial Centre, which also features the Marina Bay Suites, three Grade-A office towers, and the Marina Bay Link Mall. With an average price of $2,260 per square foot, based on a compilation of caveats by EdgeProp Singapore, it is slightly higher than Marina Bay Suites’ average of $1,970 psf.
In conclusion, the condominium market in District 9 and Marina Bay is showing strong demand, with profitable transactions even for properties that are more than 20 years old. This is despite the fact that Horizon Towers, completed in 1984, has 53 years left on its lease. The market also sees potential in new developments in the area, with the selling of 54% of units at One Marina Gardens at an average price of $2,958 psf since its launch in April. However, there are also unprofitable transactions, as seen in the loss incurred for the sale of a unit at Marina Bay Residences.