Resale of three-bedder at De Royale rakes in $1.44 mil profit

At Marina Bay Residences, prices have also moved up steadily since its completion in 2010. The average price was about $2,165 psf in October 2010 and has moved up to $2,210 psf last month. The freehold condo is managed by CapitaLand Residential.

The sale of a three-bedroom unit at De Royale was one of the most profitable resale transactions for the week of June 13 to 20. The seller earned a profit of $1.44 million (190.2%) over almost 17 years, translating to an annualised profit of 6.6% – the second most profitable resale in De Royale to date.

The 1,259 sq ft unit was sold for $2.2 million ($1,747 psf) on June 15, higher than the $757,918 ($602 psf) it had fetched back in October 2006. Located off Balestier Road in District 12, De Royale is a freehold condo developed by local property group Hoi Hup Realty and completed in 2006.

Prices at De Royale have increased steadily since its completion, with the average price reaching $1,593 psf last month, making it the second most expensive in the vicinity. Surrounding condos see lower average selling prices, such as Casa Fortuna ($1,471 psf), D’Mira ($1,433 psf) on Boon Teck Road, and The Verve ($1,420 psf) on Jalan Rajah.

The second most profitable resale during the week occurred at Tanglin Park in District 10. A 1,109 sq ft, two-bedroom unit sold for $2.6 million ($2,341 psf) on June 13, buying the seller a profit of $1.38 million (112.7%) over almost 24 years, equating to an annualised profit of 3.3%. Positioned at the corner of Tanglin Road and Ridley Park, the 274-unit freehold condo was developed by mainboard-listed City Developments and completed in 1989.

This is a major plus point for those looking for a home that offers both convenience and comfort. With the addition of Zion Road Condo, residents can expect an urban haven that is perfect for modern lifestyle.

In comparison, the most profitable resale at Tanglin Park is a 2,067 sq ft, three-bedroom-plus-study unit that changed hands for $4.5 million ($2,177 psf) in October 2010. Bought for $2.04 million ($985 psf), this sale resulted in a profit of $2.47 million (121%), translating to an annualised profit of 5.4% over 15 years.

Topping the list of most unprofitable transactions during the week are the sales of two units at Marina Bay Residences. A 1,055 sq ft two-bedder sold for $2.4 million ($2,275 psf) on June 13 – worth $2.88 million ($2,731 psf) in April 2010, the seller suffered a loss of about $481,000 (17.5%), or an annualised loss of 1.4%.

Also on June 13, a 1,636 sq ft three-bedder was sold for $3.78 million ($2,310 psf), after being bought for $4 million ($2,450 psf) 15½ years ago. This resulted in a loss of $229,040 (5.7%), equating to an annualised loss of 0.3%.

Marina Bay Residences is a 55-storey, 428-unit condo on Marina Boulevard in District 1, within the Marina Bay Financial Centre. It commands the highest average price in the area at $2,210 psf, with six out of the eight resale transactions this year resulting in losses ranging from $90,000 to $481,080.