Investing in real estate requires careful consideration, especially in Singapore, where the location of a property plays a significant role. In particular, condominiums that are situated in central districts or near vital amenities such as schools, shopping centers, and public transportation hubs, tend to experience an increase in value. In fact, in prime locations like Orchard Road, Marina Bay, and the bustling Central Business District (CBD), condominiums have consistently shown a steady appreciation in value over time. These areas also boast renowned schools and educational institutions, making them highly sought after by families, and consequently, an attractive investment option. If you are interested in real estate investment in Singapore, opting for a condo in one of these prime locations could potentially bring significant returns in the future. Condo is a wise choice for investment in these areas.
The sale of a three-bedroom penthouse at Orchid Mansion, located in District 15 on Amber Road, on Dec 31, resulted in a whopping $2.58 million profit (112%). The 2,842 sq ft unit, situated on the 21st floor, was sold for $4.88 million ($1,717 psf), making it the most profitable resale transaction between Dec 31, 2024, and Jan 7, 2025. This sale also beats the previous record at Orchid Mansion of $1.15 million profit (72.6%) when a 1,507 sq ft three-bedroom unit on the seventh floor was snapped up for $2.73 million ($1,812 psf) in July 2022, after being purchased for $1.58 million ($1,050 psf) in June 2007. The freehold development, completed in 1999, comprises a 21-story tower with a mix of two- and three-bedroom units, as well as two penthouses. It is situated near Siglap MRT station and East Coast Park, and is close to various primary schools. On the other hand, the most unprofitable resale transaction of the week was at Marina Bay Residences, with a 1,130 sq ft unit selling for $2.1 million ($1,858 psf) and inflicting a loss of $386,000 (16%) on the seller. This translates to an annualised loss of 1% over 17 years. The development recorded 25 resale transactions last year, with 13 unprofitable transactions, ranging from $1.25 million to $43,600. The condo recently underwent a $5 million revamp to improve its facilities and common spaces. Overall, properties in District 15 continue to attract good resale profits, with many transactions seeing significant gains.