Resale Thomson 800 Three Bedroom Unit Nets 232 Mil Profit

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The sale of a three-bedroom unit at Thomson 800 was the most profitable transaction during the week of June 10 to June 17. The 1,625 sq ft apartment on the sixth floor was sold for $3.22 million ($1,980 psf) on June 13. According to records, the unit had been originally purchased for $900,250 ($554 psf) in May 2006. As a result, the seller made a profit of $2.32 million (257.6%), which translates to an annualised gain of 6.9% after holding the unit for over 19 years.

This sale marks the second most profitable resale transaction at Thomson 800 to date. The highest gain was recorded from the sale of a 3,823 sq ft unit for $5.38 million ($1,404 psf) on April 15. Records show that the seller had bought the apartment for around $2.99 million in June 2007, realising a profit of $2.38 million (58.9%) after holding it for nearly 18 years.

Thomson 800 hits a new high with the resale of a 1,625 sq ft unit for $3.22 million on June 13. (Photo: )

Located in District 11, Thomson 800 is a freehold condo situated along Thomson Road. Completed in 1999, the development comprises three 20-storey towers, housing three-bedroom apartments ranging from 1,281 to 1,808 sq ft. It also offers four-bedroom simplex and duplex penthouses of 3,757 sq ft to 5,823 sq ft.

Apart from the two profitable transactions on June 13 and April 15, there were two other profitable resales at Thomson 800 this year. On April 30, a 1,625 sq ft unit was sold for $3.08 million ($1,895 psf), resulting in a profit of $2.16 million for the seller who had bought it in September 1998 for $923,000 ($568 psf). Earlier on Feb 3, a 1,346 sq ft apartment was sold for $2.54 million ($1,888 psf). The seller who had purchased the unit in September 2021 for $2.12 million ($1,576 psf) recorded a gain of $420,000.

The second most profitable condo resale of the week was the sale of a 1,302 sq ft two-bedroom unit at Ocean Park for $2.8 million ($2,150 psf) on June 12. The unit was originally bought in August 2001 for approximately $792,918 ($609 psf), resulting in a gain of $2.01 million (253.1%) after nearly 24 years of ownership.

Built in 1984, Ocean Park is a freehold development located on East Coast Road, comprising 298 units. It offers two- to four-bedroom apartments ranging from 1,302 sq ft to 3,897 sq ft. The development is within walking distance of Marine Terrace MRT Station and in close proximity to schools such as Victoria Junior College and Ngee Ann Primary School.

Please find below the revised version of the article:

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A 1,302 sq ft unit at Ocean Park was resold for $2.8 million on June 12, resulting in a $2.38 million gain. (Photo: Google Streetview)

To date, the most significant gain recorded for a unit at Ocean Park was the sale of a 2,110 sq ft, three-bedroom unit for $4.15 million ($1,967 psf) in November last year. The unit had been purchased for $1.05 million ($498 psf) in June 2003, resulting in a gain of $3.1 million, or an annualised gain of 6.6% over 21 years.

In contrast, the least profitable transaction of the week involved a 1,604 sq ft three-bedroom unit on the 50th floor of Marina Bay Suites. The unit was sold for $3.2 million ($1,995 psf) on June 12. Records show that it was originally purchased for $4.47 million ($2,786 psf) in May 2010. This resulted in a loss of $1.27 million or an annualised decline of 2.2% over just over 15 years.

There have been six resale transactions at Marina Bay Suites this year, including the one on June 12, all resulting in losses. The largest loss was recorded by the seller of a 2,056 sq ft four-bedroom apartment on the 53rd floor, which sold for $4.08 million ($1,985 psf) on June 2. Records show that the unit had been purchased for $6.14 million ($2,985 psf) in December 2012, resulting in a loss of $2.06 million.

Read also: Four-bed unit at The Tessarina sold for $2.4 million profit

Completed in 2013, Marina Bay Suites is a 99-year leasehold development situated on Central Boulevard in the Marina Bay financial district. It comprises of 221 units across two residential towers and offers three- and four-bedroom apartments ranging from 1,572 sq ft to 2,691 sq ft. The development is within walking distance of Downtown, Raffles Place, and Bayfront MRT Stations.