Unit at Marina Bay Residences turns in $5.47 mil profit

By Charlene Chin / EdgeProp Singapore | September 22, 2021 12:34 PM SGT
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - The seller of a unit at Marina Bay Residences on Marina Boulevard made the top gain of $5.47 million over the week of Sept 5 to 14. The 4,489 sq ft unit on the 51st floor was bought for $13.88 million ($3,092 psf) in October 2013 and sold for $19.35 million ($4,311 psf) on Sept 7. The seller therefore made a 39% profit, or an annualised profit of 4% over almost eight years.
Marina Bay Residences - EDGEPROP SINGAPORE
The 4,489 sq ft unit on the 51st floor at Marina Bay Residences was sold for $19.35 million ($4,311 psf) on Sept 7 (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located in District 1, Marina Bay Residences was completed in 2010 and has 428 units on a 99-year leasehold. It is a four-minute walk to Downtown MRT Station on the Downtown Line.
The second top gain made over the week — a 106% profit of $1.8 million — was at Grand Duchess at St Patrick’s, on St Patrick’s Road. The 2,573 sq ft unit on the fifth floor was purchased for $1.7 million ($661 psf) in October 2008 and sold for $3.5 million ($1,360 psf) on Sept 14. This means that the seller made an annualised profit of 6% over 13 years.
ADVERTISEMENT
Grand Duchess at St Patrick’s, in District 15, comprises 121 freehold units and was completed in 2010. It is a two minute walk to the upcoming Marine Terrace MRT Station on the Thomson-East Coast Line.
A unit sold at Aspen Heights, on River Valley Road in District 9, made the third largest gain over the week, netting a 138% profit of $1.72 million for the seller. The 1,324 sq ft unit on the eighth floor was bought in July 2002 for $1.25 million ($944 psf), and sold for $2.97 million ($2,243 psf) on Sept 13. The seller therefore made an annualised profit of 5% over 19 years.
Aspen Heights comprises 606 units on a 999-year leasehold and was completed in 1998. It is an eight-minute walk to Fort Canning MRT Station on the Downtown Line.
Reflections at Keppel Bay - EDGEPROP SINGAPORE
Having sold a unit at Reflections at Keppel Bay for $11 million ($1,560 psf) on Sept 10, the seller suffered a 39% loss of $6.95 million (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 7,050 sq ft unit at Reflections at Keppel Bay in District 4. Having sold the property for $11 million ($1,560 psf) on Sept 10, the seller suffered a 39% loss of $6.95 million. The unit was purchased in May 2007 for $17.95 million ($2,550 psf). Over a holding period of more than 14 years, this translates into an annualised loss of 3%.
ADVERTISEMENT
Reflections at Keppel Bay, located on Keppel Bay View, comprises 1,129 units on a 99-year leasehold and was completed in 2011. It is a seven-minute walk to Telok Blangah MRT Station on the Circle Line.

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter