Four-bedder at Marina Bay Residences sold at $2.4 mil loss

In the week of October 17 to 24, a four-bedroom unit at Marina Bay Residences – located on District 1 – sold for $6.9 million ($2,914 psf). Unfortunately for the seller, they had purchased the unit in March 2014 for $9.29 million ($3,923 psf) – resulting in a $2.39 million loss, which works out to a 26% loss over a roughly 9½ year period.

This recorded transaction is the second most unprofitable resale transaction to occur at Marina Bay Residences, according to data compiled on EdgeProp Research.

The most unprofitable transaction took place in May 2022, when a 4,435 sq ft, four-bedroom unit on the 52nd floor was sold for $9.4 million ($2,120 psf).This unit was bought by the seller in July 2007 for $11.98 million ($2,701 psf), recording a loss of $2.58 million.

As of October 31, Marina Bay Residences has seen 12 other resale transactions this year, eight of which have been unprofitable.

Data on EdgeProp Research shows that the units – measuring from 710 to 1,981 sq ft – have been sold at between $1.45 million and $5.23 million, or between $1,981 and $2,641 psf.

The most profitable condo resale transaction during this same week, however, took place at Tiara. A three-bedroom unit measuring 1,346 sq ft changed hands for $3.13 million ($2,326 psf). This is remarkably 98% higher than the price paid for the unit when it was bought in October 2000 – $1.58 million ($1,174 psf). The seller has thus netted a gain of $1.55 million.

Located along Kim Seng Walk in District 9’s River Valley area, Tiara is a freehold condo developed in 1995. It has 264 units composed of two- and three-bedders with sizes ranging from 893 to 1,561 sq ft.

The second most profitable transaction was at Claremont. On October 19, a 1,367 sq ft, three-bedroom unit on the first floor sold for $2.43 million ($1,778 psf). This was purchased by the seller in July 1999 for $1.04 million ($762 psf), thus netting them a profit of $1.39 million (or 133%) after holding the property for slightly more than 24 years.

Located right beside Holland Drive Condo, residents will be able to use the MRT for convenient travelling. Apart from the MRT station, the area is also serviced by various bus routes and even an award-winning bicycle network. This makes travelling around the island with ease from Holland Drive Condo a breeze. With its accessibility and range of amenities, Holland Drive Condo truly provides a great place for those looking to live a comfortable lifestyle.

Claremont is a freehold condo located along Killiney Road in District 9. It has 67 units and was completed in 2000. It is composed of a mix of two-, three-, and four-bedders between 850 and 2,637 sq ft.

Regardless of the outcome of the transactions, the homes at Marina Bay Residences, Tiara, and Claremont offer an excellent opportunity for potential property buyers. Check out the latest listings for these properties to see what’s available.