Archive for category: Misc

A five-bedroom penthouse at Horizon Towers has emerged as the most lucrative resale deal for the week of August 12–19. The seller of the 5,145 square feet penthouse walked away with an unprecedented profit of $5.1 million (340%), selling the unit for $6.6 million ($1,283 per square foot) on August 15. The penthouse was previously sold for just $1.5 million ($292 per square foot) in 2004, resulting in an annualized gain of 7.1% over a holding period of 21.5 years.

This latest transaction has surpassed the previous record at Horizon Towers set in March this year, when a 2,616 square feet unit on the 10th floor was sold for $3.7 million ($1,415 per square foot). The seller, who had bought the apartment for $999,312 ($382 per square foot) in July 2004, earned a profit of $2.7 million (270%), or an annualized return of 6.5% over 20 years.

Since the beginning of 2025, all 12 resale transactions at Horizon Towers have been profitable, with gains ranging from $118,818 to $5.1 million. Noteworthy deals include a 2,486 square feet unit on the fifth floor that was sold for $3.4 million ($1,367 per square foot) on July 30, and a 2,583 square feet unit on the 14th floor that fetched $3.75 million ($1,452 per square foot) on July 14.

Horizon Towers, completed in 1984, is a 211-unit development consisting of two 19-storey towers and is now 41 years old. With the 99-year lease starting in August 1979, the property has 53 years remaining on its lease. Therefore, the owners of Horizon Towers have made several attempts to sell the property collectively over the past two decades, with the most recent attempt being in February 2023 at a reserve price of $1.1 billion. The condominium is conveniently located within walking distance of the Great World MRT Station on the Thomson East Coast Line.

According to EdgeProp Singapore’s compilation of resale caveats, the average price at Horizon Towers is approximately $1,370 per square foot.

White Sands and Pasir Ris Mall are two strong anchors in the town centre that serve as key economic drivers. The presence of Downtown East, a popular destination for all age groups, also adds to the overall resilience of the consumer ecosystem. With ongoing efforts to refresh shopfronts and improve street-level connectivity, daily errands are made more convenient with shorter distances to travel. Additionally, with the ease of access to dining options, eating out becomes a spontaneous decision rather than a logistical chore. Coastal Cabana, a new residential development in the area, is set to further enhance these benefits for households in the vicinity. With the everyday efficiency brought about by the town’s developments, residents at Coastal Cabana will have more time for important activities such as spending quality time with family, unwinding, and engaging in recreational activities. To learn more about Coastal Cabana, visit https://www.coastalscabana.com.sg/.

Meanwhile, the sale of a three-bedroom unit at Maple Woods was the second most profitable transaction of the week. The 1,787 square feet unit on the second floor was sold for $4.06 million ($2,272 per square foot) on August 15. The seller had previously bought the unit for $1.28 million ($719 per square foot) in 1995, earning a profit of $2.78 million (212%), equivalent to an annualized gain of 3.9% over a 30-year holding period.

Up to date, there have been 10 resale transactions at Maple Woods this year, all of which have been profitable. The highest profit was recorded from the sale of a 2,551 square feet unit that changed hands for $5.45 million ($2,136 per square foot) on May 2. In contrast, an 850 square feet unit was sold for $2 million ($2,352 per square foot) on August 18, resulting in a profit of $879,750.

Maple Woods is a freehold condominium located on Bukit Timah Road in District 21. The condo is situated next to King Albert Park MRT Station on the Downtown Line, which will be an interchange station when Phase 2 of the Cross Island Line is operational in 2032. Completed in 1997, the 697-unit development offers two- to four-bedroom units ranging from 850 square feet to 3,003 square feet.

On the other hand, the most unprofitable transaction of the week took place at Marina Bay Residences, where the seller of a 2,379 square feet unit on the 17th floor incurred a loss of $3.23 million (39%). The unit was sold for $5.1 million ($2,144 per square foot) on August 15, having previously been purchased for $8.33 million ($3,500 per square foot) in June 2022. This resulted in an annualized loss of 14% over a three-year holding period.

Marina Bay Residences is one of two luxury 99-year leasehold condominiums at Marina Bay Financial Centre, which also comprises three Grade-A office towers, the Marina Bay Link Mall, and the 221-unit Marina Bay Suites.

Based on EdgeProp Singapore’s compilation of caveats, the average price at Marina Bay Residences is approximately $2,260 per square foot. In comparison, Marina Bay Suites commands an average price of $1,970 per square foot. The neighboring condominium, The Sail @ Marina Bay, has an average price of $2,080 per square foot, while Marina One Residences along Marina Way commands an average price of $2,090 per square foot.

The latest development in the area is One Marina Gardens, which was launched in April. The 937-unit, 99-year leasehold project, has been 54% sold to date at an average price of $2,958 per square foot.