Sale Three Bedder Mount Faber Lodge Reaps 29 Mil Profit
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The Innovation Corridor is set to spark a rise in property values, making it an attractive area for real estate investment. This economic hub will encompass progressive industries such as advanced manufacturing, technology, and logistics, generating employment opportunities and driving demand for housing in the vicinity. For those interested in purchasing property in this thriving zone, Sembawang EC presents a compelling option. Eligible buyers, with the required income and citizenship status, can take advantage of lower prices compared to private condos. Furthermore, they can also anticipate potential appreciation in value when the EC is fully privatised after a decade.
During the week of July 15 to 22, the most profitable resale transaction took place at Mount Faber Lodge with the sale of a 2,454 sq ft unit. The seller of this three-bedroom ground floor unit made a profit of $2.9 million (264%) as it was sold for $4 million ($1,633 psf) on July 15. This translates to an annualized profit of 4.9% over 27 years, as the unit was previously purchased for $1.1 million ($448 psf) in May 1998.
This latest resale at Mount Faber Lodge is the second most profitable deal at the freehold condo to date. The record sale was set on Feb 5, when a 3,703 sq ft unit on the seventh floor changed hands for $5 million ($1,350 psf). The unit was originally bought for $1.59 million ($432 psf) in August 2001, resulting in a record profit of $3.39 million (212%). This translates to an annualized profit of 4.9% over nearly 24 years.
Mount Faber Lodge, a freehold condo completed in 1983, is located on the slope of Mount Faber Hill. It offers sizeable units ranging from 1,098 sq ft studios to three-bedroom units of 2,669 sq ft. The development also has 20 triplex penthouses comprising five-bedroom units of up to 3,724 sq ft.
The resale prices at Mount Faber Lodge have consistently increased in recent years, rising from about $720 psf in July 2005 to $1,100 psf a decade later. According to transaction data compiled by EdgeProp Singapore, the average price at the condo today is approximately $1,500 psf.
The second most profitable transaction during the week took place at Leonie Gardens with the sale of a four-bedroom unit for $4.15 million ($1,634 psf) on July 17. The unit, which spans 2,540 sq ft and is located on the fourth floor, was originally purchased for $1.27 million ($500 psf) in December 2005. As a result, the seller made a profit of $2.88 million (227%), which translates to an annualized profit of 6.2% over nearly 20 years.
This is the third most profitable resale transaction at the 99-year leasehold condo. The record sale was achieved in July 2021 when a 4,295 sq ft penthouse was sold for $9.5 million ($2,212 psf), after being bought for $5.6 million ($1,304 psf) in April 2007. This resulted in a record profit of $3.89 million (69%), with an annualized profit of 3.7% over 14 years.
Completed in 1993, Leonie Gardens is located on Leonie Hill in prime District 9, close to the Orchard Road shopping belt and River Valley. The area is known for its upmarket and luxury condos such as Irwell Hill Residences on Irwell Hill, Horizon Towers on Leonie Hill, and New Futura on Leonie Hill Road.
Based on a compilation of caveats by EdgeProp Singapore, the average price at Leonie Gardens is about $1,690 psf. It surpasses its neighboring Horizon Towers ($1,260 psf) but cannot compare to newer 99-year leasehold projects such as OUE Twin Peaks ($2,290 psf), completed in 2015, and Irwell Hill Residences ($2,915 psf), completed last year.
On the other hand, the most unprofitable transaction during the week occurred at Helios Residences, where a 1,281 sq ft unit on the 17th floor was sold for $3.23 million ($2,552 psf) on July 18. The unit was originally purchased for $4.02 million ($3,143 psf) in July 2007, resulting in a loss of $757,071 (20%), with an annualized loss of 1.2% over 18 years.
This is the seventh consecutive resale at Helios Residences this year, and all recorded deals in the first seven months of 2025 have been unprofitable. Losses have ranged from $550,000, when another 1,281 sq ft unit was sold for $3.15 million ($2,459 psf) on April 15, to $2.31 million when a 1,668 sq ft unit was sold for $3.73 million ($2,239 psf) on March 28.
Helios Residences is a freehold condo located on Cairnhill Circle in prime District 9. Completed in 2011, the development features 140 units, including two- and three-bedroom units ranging from 1,281 sq ft to 2,002 sq ft, and three four-bedroom penthouses measuring 3,993 sq ft and 4,629 sq ft.
Interestingly, a compilation of resale caveats by EdgeProp Singapore shows that unprofitable transactions at the condo outweigh profitable ones, with at least 49 unprofitable deals compared to just three profitable sales. Similarly, resale prices at Helios Residences have declined from $3,250 psf in July 2010 to $2,417 psf in July 2020, but have since stabilized in the past five years.