Mandarin Gardens in Siglap, District 154.88 million700674 https://www.edgeprop.sg/property-news/mandarin-gardens-recorded-most-profitable-condo-resale-transaction-during-feb-7-feb-14
Mandarin Gardens in Siglap, District 15, continues to prove its popularity in the resale market, with the most profitable condo resale transaction recorded between Feb 7 to Feb 14.
A 3,800 sq ft, four-bedroom unit at the development fetched $4.88 million, or $1,284 psf, on Feb 11. The sale resulted in a profit of $3.83 million for the seller, or 364.8% of their original purchase price. This translates to an annualised capital gain of 7.4% over 21½ years.
Mandarin Gardens spans 17 blocks, ranging from nine to 23-storeys tall along Siglap Road in District 15 (Photo: Samuel Issac Chua / EdgeProp Singapore)
The record breaking sale surpasses the previous record of $2.7 million profit recorded for a 3,068 sq ft four-bedroom unit at the condo.
Mandarin Gardens is a 99-year leasehold development located along Siglap Road in District 15. It spans 1.07 million sq ft and comprises 1,006 residential units and 11 strata commercial units.
The project houses a mix of apartments ranging from one to four-bedrooms as well as commercial units. It also boasts a range of amenities including a swimming pool, tennis court, and gym.
Despite a recent stagnation in resale prices, with the average resale price reaching a peak of $1,316 psf in June 2024 before falling slightly to $1,310 psf as of Feb 25, Mandarin Gardens remains a sought-after development for buyers in the resale market.
Schools within 2km of the development include Victoria Junior College, St. Patrick’s School, and East Coast Primary School.
Meanwhile, the second most profitable resale transaction was recorded at Parvis, a freehold condo located along Holland Hill in prime District 10.
On Feb 10, a 2,260 sq ft, three-bedroom unit on the second floor of the development was sold for $4.78 million ($2,115 psf). The unit had last changed hands in December 2009 when it was bought from the developers for $2.78 million ($1,230 psf). Therefore, the sellers made a profit of $2 million (71.9%) from the deal or an annualised gain of 3.6% over 15 years.
Parvis is 12-storey development comprised of 248 residential units (Photo: Samuel Isaac Chua / EdgeProp Singapore)
Parvis is also another development which has consistently shown popularity in the resale market. Despite recording a slight loss in average resale prices over recent years, with the average price per sq ft at $3,398 as of Jan 2022, the development has also recorded plenty of profitable resale transactions.
Since its launch in 2007, 69 unprofitable transactions have been recorded at Parvis, of which 18 have resulted in seven-figure losses.
Schools within 2km of Parvis include Henry Park Primary School along Holland Grove Road, Nanyang Primary School along Coronation Road, New Town Primary School along Tanglin Halt Road and Queenstown Primary School along Margaret Drive. The condo is within walking distance to Holland Village MRT Station on the Circle Line.
The most unprofitable transaction recorded between Feb 7 and Feb 14 was the sale of a two-bedroom unit at freehold condo Scotts Square. The 947 sq ft unit on the 28th floor was sold for $3.08 million ($3,252 psf) on Feb 13. The most recent sale resulted in a $745,880 (19.5%) loss for the seller. This translates to an annualised loss of 1.3% over 17 years.
Scotts Square is a mixed-use freehold development located along Scotts Road in the Orchard shopping belt. Completed in 2011, it has two luxury residential towers of 43 and 34 storeys with a total of 338 apartments and a four-storey retail podium.
The condo boasts a range of luxurious facilities such as a concierge service, gym, swimming pool and sky pool. The condo also has a mix of apartment sizes ranging from one to three-bedrooms, with schools within 2km including Anglo-Chinese School (Junior) and River Valley Primary School.
The depreciation of average resale prices at Scotts Square, from a peak of $4,054 psf in July 2007 to a low of $3,330 psf in August 2020, can be seen in EdgeProp Singapore’s recent price trend chart.
The week from Feb 7 to Feb 14 had a record of 25 unprofitable transactions, the highest recorded since October 2023. In total, the week recorded 520 resale transactions, according to data from EdgeProperty Singapore.
Over the past year, the development with the most unprofitable transactions was Parc Rosewood, a 99-year leasehold condo located in Woodlands, which recorded 436 unprofitable transactions.
When it comes to landed properties, the most profitable transaction was recorded in Eden Residences Capitol, which posted a profit of $3.9 million. Meanwhile, the most unprofitable transaction was recorded in Chee Hoon Avenue, where a landed property recorded a loss of $1.6 million.
Keen on buying an investment property? Check out the latest listings for Parvis properties now.