Three-bedder at Costa Rhu sold for $2.03 mil profit

Topping the list of most profitable condo resale deals during the period of Jan 18 to 27 is the sale of a three-bedroom unit at Costa Rhu, a 99-year leasehold condo in District 15. The 1,647 sq ft unit on the seventh floor was transacted for $2.8 million ($1,700 psf) on Jan 20. It was purchased for more than $765,800 ($465 psf) in June 2005. As a result, the seller made a profit of $2.03 million (265.6%), which translates to an annualised gain of 6.5% over more than 20½ years.

The latest deal marks the sixth most profitable resale transaction at Costa Rhu to date. The record profit belongs to a four-bedroom unit, which was sold for $4.3 million ($2,059 psf) in April 2025. The seller, who bought the 2,088 sq ft unit on the third floor for $1.5 million ($718 psf) in November 2006, scored a profit of $2.8 million over a holding period of almost 18½ years.

The 1,647 sq ft three-bedder at Costa Rhu was sold for $2.8 million ($1,700 psf) on Jan 20 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Completed in 1997, Costa Rhu is a waterfront condo in Tanjong Rhu with unobstructed views of the Kallang River. The 737-unit development houses a mix of two- to four-bedroom units of 990 to 2,551 sq ft.

Based on lodged caveats, the development has seen two other resale transactions this year, both of which were profitable. The units, which span 1,970 and 1,399 sq ft, netted gains of about $681,000 and $1.43 million, respectively.

The second most profitable resale transaction during the period in review was the sale of a 1,539 sq ft unit at Cote D’Azur. The four-bedroom unit on the fourth floor fetched $2.84 million ($1,844 psf) on Jan 20. The seller acquired the unit for around $841,800 ($547 psf) in July 2002. Thus, they raked in a gain of close to $2 million (237.1%), or an annualised profit of 5.3% over 23½ years.

A four-bedroom unit at Cote D’Azur fetched $2.84 million ($1,844 psf) on Jan 20, resulting in a gain of close to $2 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Completed in 2004, Cote D’Azur is a 99-year leasehold condo along Marine Parade Road in District 15. The 612-unit development comprises five residential blocks, offering a mix of one- to five-bedroom units. The condo is located next to Parkway Parade shopping centre, and is within a three-minute walk of Marine Parade MRT Station on the Thomson-East Coast Line.

The record profit for a unit at Cote D’Azur was set four years ago. A 3,412 sq ft apartment on the 22nd floor changed hands for $4.8 million ($1,407 psf) in September 2021, resulting in a profit of $2.72 million. This unit had been bought for $2.08 million ($610 psf) in April 2006.

At the other end, the most unprofitable transaction during the period took place at Cuscaden Reserve when a 936 sq ft unit changed hands for $3.04 million ($3,248 psf) on Jan 26. The two-bedder on the 25th floor had previously been transacted at $3.56 million ($3,807 psf) in September 2021. Thus, the seller suffered a loss of about $523,200 (14.7%), which translates to an annualised loss of 3.6% over more than four years.

A two-bedroom unit at Cuscaden Reserve incurred a loss of about $523,200 when it was transacted for $3.04 million ($3,248 psf) on Jan 26 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Completed in 2023, Cuscaden Reserve is a 99-year leasehold development along Cuscaden Road in prime District 10. The luxury condo offers a mix of one- to three-bedroom units spanning 700 to 1,163 sq ft, as well as six 2,099 sq ft, four-bedroom apartments from the 21st to 26th floors. The development also houses a sole duplex penthouse of 3,755 sq ft.

The development recorded 13 resale deals in 2025. Based on data compiled on EdgeProp Research, the units, which span from 700 to 2,099 sq ft, transacted at prices of between $1.96 million and $7.11 million.

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