Penthouse Orchid Mansion Amber Road Fetches Record Profit 258 Mil

The record-breaking sale of a three-bedroom penthouse unit at Orchid Mansion, a freehold condo on Amber Road in District 15, on Dec 31, resulted in a staggering profit of $2.58 million (112%). This was the most profitable resale transaction from Dec 31, 2024, to Jan 7, 2025.The unit, spanning 2,842 sq ft on the 21st floor, was sold for $4.88 million, translating to a price per square foot of $1,717. It was originally purchased for $2.3 million ($809 psf) in March 2009. This means that the seller saw an annualized profit of 4.9% over a span of nearly 16 years. This also surpasses the previous record for the most profitable resale transaction at Orchid Mansion, which was a profit of $1.15 million (72.6%) for a three-bedroom unit on the seventh floor, sold for $2.73 million ($1,812 psf) in July 2022. This unit was bought for $1.58 million ($1,050 psf) in June 2007.Read also: Resale four-bedder at The Arcadia records $3.25 million profitThe sale of this penthouse at Orchid Mansion on Dec 31 made headlines for its profit of $2.58 mil. (Picture: Samuel Isaac Chua/)Orchid Mansion, a 20-year-old condo located at 11 Amber Road, boasts a 21-story residential tower with a mix of two- and three-bedroom units ranging from 1,346 sq ft to 2,002 sq ft. It also features two penthouses, each measuring 2,842 sq ft and 2,734 sq ft.The second most profitable resale transaction during the week in review took place at Villa Marina, where a 1,625 sq ft unit was sold for $2.35 million ($1,446 psf) on Jan 3. This three-bedroom unit on the ground floor was originally purchased for $630,500 ($388 psf) in September 2006. As a result, the seller pocketed a profit of $1.72 million (273%), which translates to an annualized profit of 7.6% over a span of 18 years.This sale also breaks the previous record for the most profitable resale transaction at Villa Marina, which was a profit of $1.58 million (219%) for a 1,916 sq ft unit on the fourth floor, sold for $2.3 million ($1,200 psf) on July 16, 2024. This unit was purchased for $720,416 ($376 psf) in November 1998.Villa Marina is a 99-year leasehold development situated at Jalan Sempadan in District 15. The development, which was completed in 1999, comprises 27 low-rise residential blocks and a total of 432 units, with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The 460,685 sq ft site wraps around the Masjid Kampong Siglap mosque and is conveniently located near Siglap MRT station on the Thomson-East Coast Line, as well as East Coast Park. Popular primary schools, such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School, and Tao Nan School, are all within a 1km radius of the development.Meanwhile, the most unprofitable resale transaction during the week in review was the sale of a 1,130 sq ft unit at Marina Bay Residences, which inflicted a loss of $386,000 (16%) on the seller on Jan 2.The two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf), but it had been purchased for $2.49 million ($2,200 psf) in November 2007. This amounts to an annualized loss of 1% over a period of 17 years.This transaction at Marina Bay Residences, which boasts a total of 25 resale transactions last year, also breaks the record for the least profitable resale at the development. The highest loss recorded at the development was $1.25 million, with the lowest being $43,600. The transaction to record the highest loss was the sale of a 1,227 sq ft unit for $2.8 million ($2,282 psf) in March 22, 2024.Read also: JadeScape penthouse sold for $4.35 million profitThe sale of a 1,130 sq ft unit at Marina Bay Residences on Jan 2 resulted in a loss of $386,000. (Picture: Samuel Isaac Chua/)Marina Bay Residences, a 428-unit development located at Marina Boulevard, recently underwent a $5 million revamp from Jan 2022 to Sept 2023 to improve its resident facilities and common spaces. The luxury condo, which is 15 years old, is one of two 99-year leasehold condos in Marina Bay Financial Centre (MBFC). MBFC also comprises three Grade-A office towers, Marina Bay Residences, and Marina Bay Suites, which boasts a total of 221 units.According to recent data on resale caveats at Marina Bay Residences, the average resale price at the development last month was $2,242 psf, which is higher than the average price at other condos in the vicinity, such as The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf), and Marina One Residences ($2,133 psf).For more information on Orchid Mansion, click here.Ask BuddyTenure of Orchid MansionCompare price trend of New sale condo vs Resale condoView sale transactions for Orchid MansionCompare price trend of Condo new sale vs EC new saleCondo projects with most unprofitable transactions in District 15Tenure of Orchid MansionCompare price trend of New sale condo vs Resale condoView sale transactions for Orchid MansionCompare price trend of Condo new sale vs EC new saleCondo projects with most unprofitable transactions in District 15

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