Rewritten:
The Arcadia recently saw the most successful resale transaction between December 10 to 31, with a four-bedroom unit on the seventh floor being sold for a record-breaking profit of $3.25 million (217%). The unit, measuring 3,767 sq ft, was purchased in 1998 for $1.5 million ($398 psf) and was sold on December 10 for $4.75 million ($1,261 psf). This translates to an annualized profit of 4.5% over a span of 26 years.
In the past year, five units at The Arcadia, ranging from 3,714 sq ft to 3,821 sq ft, were sold for profits ranging from $60,000 to $3.25 million. Another unit, measuring 3,778 sq ft and located on the fourth floor, was sold on October 10 for a profit of $60,000, fetching a price of $4.6 million ($1,218 psf).
The record for the most profitable transaction at The Arcadia is currently held by a penthouse unit measuring 7,503 sq ft on the tenth floor. This unit, purchased in 2007 for $5.5 million ($733 psf), was sold in 2010 for a whopping $10 million ($1,333 psf). This translates to a profit of $4.5 million (81%), which is equivalent to an annualized gain of 19% over a period of three years.
The Arcadia, located in prime District 11, is a 99-year leasehold condo along Arcadia Road. It has 164 units and was completed in 1983, with around 54 years left on its land tenure. The property is surrounded by landed estates and prestigious schools such as Raffles Girls Primary School, Hwa Chong Institution, and National Junior College.
Another notable transaction that took place from December 10 to 31 was the sale of a unit at Tanglin Hill Meadows on December 10. The unit, measuring 2,077 sq ft, was sold for $4.5 million ($2,166 psf) after being purchased in 1999 for $1.8 million ($866 psf). This resulted in a profit of $2.7 million (150%), which is equivalent to an annualized gain of 3.6% over a span of 26 years. This transaction also set a new record for the most profitable resale at Tanglin Hill Meadows, surpassing the previous record of $2.28 million (157%) when a unit measuring 2,002 sq ft was sold for $3.73 million ($1,863 psf) in 2010. This unit was purchased in 2005 for $1.45 million ($724 psf), resulting in an annualized profit of 21% over a five-year period.
Obtaining proper financing is a crucial factor when making a condo investment. In Singapore, there are various mortgage choices available. However, it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework, which sets a cap on the amount of loan a borrower can take based on their income and current debt commitments. To ensure wise financial decisions and prevent over-borrowing, it is vital for investors to familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, keeping an eye on New Condo Launches can also provide investors with more financing options to consider.
Tanglin Hill Meadows is a freehold condo situated along Tanglin Hill in prime District 10. It has 20 units and was completed in 1997, nestled within the Ridley Park Good Class Bungalow Area.
However, the trend of losses continued at Seascape, a 99-year leasehold condo in Sentosa Cove, where a unit measuring 2,174 sq ft on the seventh floor was sold on December 18 for a loss of $1.97 million (33%). The unit, which has three bedrooms, was sold for $3.98 million ($1,830 psf) after being purchased for $5.95 million ($2,736 psf) in 2011. This results in an annualized loss of 2.5% over a 13-year period.
This marks the third resale transaction at Seascape last year, all of which recorded losses ranging from $1.75 million to $2.53 million. The transaction that resulted in the highest loss was the sale of a unit measuring 2,680 sq ft, which fetched $4.5 million ($1,679 psf) when it was sold on August 14, 2024.
Seascape, completed in 2012, has 151 units that overlook the South China Sea. Its units range from three to four bedrooms and are between 2,164 to 4,069 sq ft. Penthouse units are between 3,380 to 4,252 sq ft, while sky villas are between 6,631 to 9,666 sq ft.