The purchase of a three-bedroom apartment at De Royale was the most profitable resale deal in the week from June 13-20. The 1,259 sq ft apartment was purchased at $2.2 million ($1,747 per square foot) in June 15. This is much higher than $757,918 ($602 per sq ft) it sold for back in October of 2006. The seller made a profit of $1.44 million (190.2%), which is equivalent to an annualized gain in the range of 6.6% over almost 17 years.
It is the second-highest-profitable resale of a property at De Royale to date. The most lucrative deal is that of the 3,240 square feet four bedroom penthouse, which went under the hammer at $2.89 million ($895 per sq ft). The penthouse was bought at $1.43 million ($442 per sq ft) on March 5, 2005. This means that the seller earned an income from $1.6 million (123%), which amounts to an annualised gain that was 6% over the course of 13 years.
Royale Royale is a condo that is freehold situated on Jalan Rama Rama, off Balestier Road in District 12. The Balestier region is served via Thomson Road, the Pan Island Expressway, Balestier Road and Thomson Road.
De Royale was developed by local property group Hoi Hup Realty, and it was completed in. The entire development comprises twin 36-storey blocks with a mix of two-bedroom-plus-study units to four-bedroom penthouses. They range from 1,055 to 3,240 square feet.
Based on a compilation of URA restrictions from EdgeProp Singapore, the prices for De Royale have moved up gradually since the completion of the project. As an example, typical cost was $1,175 per psf in June 2013, and increased to $1,593 this month.
This puts De Royale as the second highest priced condo within the vicinity, behind The freehold Skysuites 17 located at 17 Jalan Rajah, which commands the highest average cost of $1,789 per square foot. Condos around it have less expensive average selling prices, like Casa Fortuna ($1,471 per square foot) located on Ah Hood Road, D’Mira ($1,433 psf) located on Boon Teck Road, and The Verve ($1,420 per square foot) located on Jalan Rajah.
The second highest-profitable sale during the week took place on Tanglin Park in District 10. The 1,109 square feet two-bedroom house sold for $2.6 million ($2,341 per square foot) on 13 June. This property was bought at $1.22 million ($1,100 per sq ft) during February of 2000. In the end, the seller earned $1.38 millions (112.7%), which is equivalent to an annualized income in the range of 3.3% over 23 1/2 years.
In comparison, the most profitable resale at Tanglin Park is for a 2,067 sq ft, three-bedroom-plus-study unit that changed hands for $4.5 million ($2,177 psf) in October 2010. The unit was purchased for $2.04 million ($985 per square foot). The seller earned profits that was $2.47 millions (121%), which is equivalent to an annualized gain that was 5.4% over 15 years.
It is situated at the corner at the intersection of Tanglin Road and Ridley Park located at the corner of Ridley Park and Tanglin Road, 274 units Tanglin Park was built by Mainboard-listed property firm City Developments, and completed in 1989. The freehold condo consists of 12 residential blocks of five stories that comprise a variety of twoto four-bedroom homes which range from 1,023 sq ft to 2,067 square feet.
Tanglin Park is located in the exclusive Tanglin residential area. The nearby facilities include the expansive Dempsey Hills shopping and lifestyle enclave as well as malls as well as Hotels in the vicinity of Tanglin Road. Queenstown Primary School lies located within 1km of the condominium as well as nearby schools like Alexandra Primary School, Crescent Girls’ School and Queenstown Secondary School.
The top of the list of non-profitable deals during this week is the sale of two units in Marina Bay Residences. Two-bedders with 1,055 square feet was purchased at $2.4 million ($2,275 per sq ft) in June 13. It was previously sold for $2.88 million ($2,731 per sq ft) in April of 2010. The seller incurred an estimated loss of 481,000 dollars (17.5%), or an annualized cost in the range of 1.4% over 13 years.
On June 13 one of the three beds was purchased at $3.78 million ($2,310 per square foot). It was bought at $4 million ($2,450 per square foot) during November 2007. This means that the seller was left with an cost of 229,040 (5.7%), or an annualized decrease that was 0.3% over 15 1/2 years.
Eight resales transaction within Marina Bay Residences so far this year. Six have led to losses that range from $90,000 up to $481,080.
Marina Bay Residences is a 55-storey 428-unit condominium located on Marina Boulevard in District 1. The building is among five towers comprising three Grade-A office towers as well as two residential towers which form Marina Bay Financial Centre. The development also comprises Marina Bay Link Mall in the basement that connects Raffles Place and Marina Bay MRT Interchange Stations.
There’s only a handful of condos along this section that is Marina Boulevard: The Sail @ Marina Bay, Marina Bay Suites, V on Shenton Marina One Residences, and V on Shenton.
Based on a calculation of resale caveats compiled by EdgeProp Singapore, Marina Bay Residences and Marina One command the highest average prices in the region at $2,187 per square foot and $2,379 per sq ft in the respective cases. In addition, The Sail @ Marina Bay offers units for an average of $1925 per square foot, while units in Marina Bay Suites fetch an average of $1,919 for a psf.