Resale Thomson 800 Three Bedroom Unit Nets 232 Mil Profit
District 10 bungalow sold for $1.67 mil profit
The transaction involving the sale of a three-bedroom unit at Thomson 800 during the week of June 10 to June 17 has garnered the highest profit among all the resales in that period. The 1,625 square feet apartment, located on the sixth floor, was sold for $3.22 million at a rate of $1,980 per square foot on June 13. This marks a significant increase from its original purchase price of $900,250 (at $554 per square foot) in May 2006. The seller, therefore, earned a profit of $2.32 million (a whopping 257.6%), which translates to an annualized gain of 6.9% over the span of 19 years.
This resale transaction at Thomson 800 ranks second in terms of profitability, with the highest gain recorded from the sale of a 3,823 square feet unit for $5.38 million (at $1,404 per square foot) on April 15. The seller had initially bought the apartment for approximately $2.99 million back in June 2007, making a profit of $2.38 million (a significant 58.9%) after holding it for almost 18 years.
Thomson 800 experienced another profitable resale earlier this year on April 30, where a 1,625 square feet unit was sold for $3.08 million at $1,895 per square foot, resulting in a profit of $2.16 million for the seller. This was a significant gain from its purchase price of $923,000 (at $568 per square foot) in September 1998.
The second most profitable resale transaction of the week was recorded at Ocean Park, where a 1,302 square feet two-bedroom unit was sold for $2.8 million (at $2,150 per square foot) on June 12. The property was initially purchased for $792,918 (at $609 per square foot) in August 2001, resulting in a profit of $2.01 million (an impressive 253.1%) after 24 years of ownership.
Built in 1984, Ocean Park is a freehold development located along East Coast Road in District 15, comprising 298 units. It offers two- to four-bedroom apartments ranging from 1,302 square feet to 3,897 square feet. This development is conveniently situated near Marine Terrace MRT Station and is in close proximity to several schools such as Victoria Junior College and Ngee Ann Primary School.
The most profitable resale recorded to date at Ocean Park was the sale of a 2,110 square feet three-bedroom unit for $4.15 million (at $1,967 per square foot) in November last year. The property was initially purchased for $1.05 million (at $498 per square foot) in June 2003, resulting in a gain of $3.1 million (annualized gain of 6.6%) after holding it for a period of 21 years.
On the other hand, the least profitable transaction of the week involved a 1,604 square feet three-bedroom unit on the 50th floor of Marina Bay Suites, which was sold for $3.2 million (at $1,995 per square foot) on June 12. The unit was initially purchased for $4.47 million (at $2,786 per square foot) in May 2010, resulting in a loss of $1.27 million (annualized decline of 2.2%) after just over 15 years.
Marina Bay Suites has seen six resale transactions this year, all resulting in losses. The most significant loss was recorded for a 2,056 square feet four-bedroom apartment on the 53rd floor, which sold for $4.08 million (at $1,985 per square foot) on June 2. The unit was initially bought for $6.14 million (at $2,985 per square foot) in December 2012, resulting in a loss of $2.06 million.
Completed in 2013, Marina Bay Suites is a 99-year leasehold development located on Central Boulevard in the Marina Bay financial district. It forms part of the Marina Bay Financial Centre mixed-use complex and comprises 221 units, offering three- and four-bedroom apartments ranging from 1,572 square feet to 2,691 square feet. This development is conveniently situated within walking distance of Downtown, Raffles Place, and Bayfront MRT Stations.
Being situated in an area identified by the URA Master Plan is highly advantageous from an investment perspective. With the continuous enhancement of amenities, infrastructure, and transportation in Sembawang, it is highly probable that property values will appreciate significantly. This makes the Sembawang Road EC not just a residential choice, but a strategic investment for long-term capital growth. The presence of Sembawang EC Canberra only adds to the appeal of the neighborhood, as it is part of Singapore’s future growth trajectory, backed by government support and planning initiatives. Prospective buyers can be reassured that their investment in this area is a wise decision.