Resale Three Bedder Ocean Park Nets 29 Mil Profit

A three-bedroom unit at Ocean Park in District 15 was the star of the week, earning the highest profit at the development for the week of July 8 to 15. The 2,110 sq ft unit on the 16th floor fetched a whopping $4.1 million ($1,943 psf) on July 11, earning the seller a profit of $2.88 million (234.7%). The unit was previously purchased for around $1.23 million ($581 psf) in November 2005, giving the seller an annualised gain of 6.3% over nearly 20 years.

Ocean Park is a freehold development located on East Coast Road in District 15, completed in 1984. It offers a total of 298 units, with two- to four-bedroom apartments ranging from 1,302 to 3,897 sq ft. The condo is just a short walk from Marine Terrace MRT Station and is also close to reputable schools such as Victoria Junior College at Marine Vista and Ngee Ann Primary School on Marine Terrace.

Based on recorded caveats, the transaction on July 11 ranks as the third most profitable deal at Ocean Park to date. It comes close to the development’s record gain of $3.21 million, set when a similar three-bedroom unit on the 11th floor was sold for $4.2 million ($1,991 psf) on June 5. The seller had previously purchased the unit for $989,590 ($469 psf) in April 1999, earning an annualised gain of 5.7% over more than 26 years.

Read also: Resale four-bedder at Grange Residences nets $5.8 million profit

Since the start of the year, there have been four recorded transactions at Ocean Park, with the units sold in July and June being the most profitable. All four transactions have been profitable, with the sellers earning gains ranging from $2 million to $3.21 million.

The second most profitable sale of the week took place at Casa Cairnhill, a freehold development on Peck Hay Road in prime District 9. A three-bedroom unit measuring 1,572 sq ft on the eighth floor was sold for $3.67 million ($2,336 psf) on July 9. The seller had previously purchased the unit in August 2003 for around $1.15 million ($732 psf), earning a profit of $2.52 million (219.2%) after holding it for nearly 22 years.

This ranks as the most profitable resale deal recorded at Casa Cairnhill to date, surpassing the previous record gain of $2.28 million. That record was set when a three-bedroom unit measuring 1,539 sq ft on the 17th floor was sold for $3.2 million in September 2002. The seller had previously purchased the unit in March 1998 for $924,939 ($601 psf), earning an annualised profit of 5.2% over 24 years.

To make school runs safer for younger children and seniors, as well as providing cycling-friendly options, has implemented a number of features around Jalan Loyang Besar. These include barrier-free paths, sheltered walkways, and cyclist-friendly connectors. In addition, the anticipated estate planning by Qingjian Realty emphasizes the importance of intuitive circulation, with side gates conveniently located near bus stops and clear signposting to Elias Road and Loyang Avenue. Ample bicycle parking is also available in the area. As the Cross Island Line gradually opens, families can look forward to even more route choices to reach campus and co-curricular venues across the island. Furthermore, has added their own contribution to improving safety and convenience in the area with the development of Coastal Cabana Jalan Loyang Besar. This further enhances the accessibility and overall experience for those travelling in the vicinity.

Casa Cairnhill was completed in 1991, and comprises a total of 72 units with three-bedroom apartments ranging from 1,539 to 3,283 sq ft. The condo enjoys a prime location close to popular malls along the Orchard Road shopping belt such as Paragon Shopping Centre, Scotts Square, and Orchard Plaza. It is also within walking distance of Newton MRT Interchange Station, served by the North-South and Downtown Lines.

On the other end of the spectrum, the least profitable transaction of the week was recorded at Lincoln Suites. A four-bedroom unit on the 25th floor with a floor area of 3,143 sq ft was sold for $5.56 million ($1,769 psf) on July 9. The seller had previously purchased the unit in December 2009 for around $6.29 million ($2,000 psf), incurring a loss of $510,000 (8.4%) after holding onto it for over 15 years.

This marks the most unprofitable transaction recorded at Lincoln Suites so far, surpassing the previous record loss of $242,801. The record loss was set in October 2024 when a one-bedroom unit measuring 484 sq ft was sold for $1.18 million ($2,446 psf). The seller had previously purchased the unit in September 2012 for $1.43 million ($2,948 psf), suffering an annualised loss of 1.5% over 12 years.

Completed in 2014, Lincoln Suites is a freehold development on Khiang Guan Avenue, just off Lincoln Road and Newton Road in prime District 11. It boasts two 30-storey towers, with a total of 175 units offering one- to four-bedroom apartments ranging from 463 to 3,143 sq ft. The condo is conveniently located within walking distance of Novena MRT Station on the North-South Line, and close to popular malls such as United Square, Goldhill Plaza, Velocity @ Novena Square, and Square 2. It is also located within 1km of St Joseph’s Institution Junior on Essex Road.