A unit at The Arcadia measuring 3,767 sq ft was sold for the highest profit during the last three weeks of December, from Dec 10 to Dec 31. The owner of the four-bedroom unit situated on the seventh floor had a very happy New Year as he gained a profit of $3.25 million (217%) when the property was sold for $4.75 million ($1,261 psf) on Dec 10. According to records, the unit was originally purchased for $1.5 million ($398 psf) back in 1998. This resulted in a yearly profit of 4.5% over the course of 26 years.
In total, there were five units at The Arcadia that were sold last year, ranging from 3,714 sq ft to 3,821 sq ft. These units earned profits ranging from $60,000 to $3.25 million. Although not as high, the sale of a 3,778 sq ft unit on the fourth floor that fetched $4.6 million ($1,218 psf) on Oct 10 last year still provided the seller with a profit of $60,000.
When purchasing a condo, it is crucial to take into account the property’s upkeep and management. Usually, condos have maintenance fees that encompass the maintenance of shared areas and amenities. Although these fees may increase the total ownership cost, they also guarantee the property’s good condition and value retention. By hiring a property management company, investors can entrust the daily management of their condos to professionals, making it a more hands-off investment. Also, be sure to check out New Condo Launches for potential investment opportunities.
The most profitable single transaction at The Arcadia was the sale of a 7,503 sq ft penthouse on the 10th floor for $10 million ($1,333 psf) in 2010. This unit was originally purchased for $5.5 million ($733 psf) in 2007, resulting in a profit of $4.5 million (81%), equating to an annual profit of around 19% over the span of three years.
The Arcadia is a 99-year leasehold condo located along Arcadia Road in prime District 11. It was completed in 1983 and has approximately 54 years remaining on its land tenure. The property is surrounded by exclusive landed estates and Good Class Bungalows, and is also in close proximity to top schools such as Raffles Girls Primary School, Hwa Chong Institution, and National Junior College.
The second most profitable resale that took place in the last three weeks of December 2024 was at Tanglin Hill Meadows, where a 2,077 sq ft unit was sold for $4.5 million ($2,166 psf) on Dec 10. The three-bedder was originally purchased for $1.8 million ($866 psf) in 1999, resulting in a profit of $2.7 million (150%) for the seller. This equates to an annualised profit of 3.6% over the course of 26 years, making it the most profitable transaction at Tanglin Hill Meadows to date. By comparison, the previous record was set in 2010, when a 2,002 sq ft unit was sold for $3.73 million ($1,863 psf), earning the seller a profit of $2.28 million (157%). This particular unit was purchased for $1.45 million ($724 psf) in 2005, resulting in an annualised profit of around 21% over a period of five years.
Tanglin Hill Meadows is a freehold condo situated along Tanglin Hill in prime District 10. It comprises 20 units and was completed in 1997. It is nestled within the Ridley Park Good Class Bungalow Area.
At another condo development, Seascape, located in Sentosa Cove, losses continue to mount. On Dec 18, the seller of a 2,174 sq ft unit on the seventh floor incurred a loss of $1.97 million (33%) when the unit was sold for $3.98 million ($1,830 psf). The seller had originally bought the unit for $5.95 million ($2,736 psf) back in 2011. As a result, the seller incurred an annualised loss of 2.5% over the course of 13 years.
This sale 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 $2.53 million loss was also the second-largest loss-incurring resale transaction for 2024. This particular sale involved a 2,680 sq ft unit that was sold for $4.5 million ($1,679 psf) on Aug 14, 2024.
Completed in 2012, the 151 units at Seascape face the South China Sea. The eight-storey development comprises of three-bedroom and four-bedroom units measuring 2,164 sq ft to 4,069 sq ft. Penthouses range from 3,380 to 4,252 sq ft in size, while sky villas measure from 6,631 to 9,666 sq ft.