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

A four-bedroom unit at Marina Bay Residences was the most unprofitable condo resale transaction during the week of Oct 17 to 24. Sold for $6.9 million, the seller incurred a loss of $2.39 million on the transaction. Located in District 1, the 99-year leasehold project was completed in 2010.

The most unprofitable resale transaction to occur at Marina Bay Residences was the sale of a 4,435 sq ft, four-bedroom unit on the 52nd floor for $9.4 million ($2,120 psf) in May 2022. The seller, who bought the unit from the developer in July 2007 for $11.98 million ($2,701 psf), made a loss of $2.58 million.

On the other hand, the most profitable transaction recorded during the week in review took place at Tiara. A three-bedder measuring 1,346 sq ft changed hands for $3.13 million ($2,326 psf) on Oct 20. The seller, who purchased the unit in October 2000 for $1.58 million ($1,174 psf), netted a gain of $1.55 million. This works out to a 98% gain for the seller after holding the property for slightly over 23 years.

Claremont saw the second most profitable transaction during the week in review. A 1,367 sq ft, three-bedroom unit on the first floor changed hands for $2.43 million ($1,778 psf) on Oct 19. The seller, who purchased the unit in July 1999 for $1.04 million ($762 psf), made a gain of $1.39 million (133%) after holding it for slightly more than 24 years.

Located across the road from the Great World mixed-use development, Tiara is a freehold condo located along Kim Seng Walk in District 9’s River Valley area. Completed in 1995, it has 264 units comprising twoand three-bedders with sizes ranging from 893 to 1,561 sq ft.

Claremont is also a freehold condo located along Killiney Road in District 9. It has 67 units and was completed in 2000 by Allgreen Properties. Units comprise a mix of two-, threeand four-bedders between 850 and 2,637 sq ft.

Residents of Zion Road Condo can therefore look forward to an easy commute into town on a daily basis.

The most unprofitable transaction to occur at Marina Bay Residences involved the sale of a 2,368 sq ft unit located on the 30th floor. Purchased in March 2014 for $9.29 million ($3,923 psf), the unit was sold for $6.9 million ($2,914 psf), resulting in a loss of $2.39 million over a holding period of 9½ years. This is the second most unprofitable resale transaction to occur at Marina Bay Residences, according to data compiled on EdgeProp Research.

Marina Bay Residences has seen 12 other resale transactions to date this year, out of which eight have been unprofitable. Data on EdgeProp Research shows that the units, measuring from 710 to 1,981 sq ft, were sold at between $1.45 million and $5.23 million, or between $1,981 and $2,641 psf. The respective sellers netted losses from around $45,000 to $510,000.

Check out the latest listings for Marina Bay Residences, Claremont, and Tiara properties to find your next home.