Four-bedder at Orion sold for $1.4 mil loss

here.The sale of a 1,776 sq ft unit at Orion on Sept 21 marked the most unprofitable resale transaction over the week. The four-bedroom unit, on the 10th floor, fetched $3.93 million ($2,216 psf), and the seller suffered a loss of $1.43 million (27%). On the other hand, the most profitable transaction took place at Pebble Bay. The sale of a 2,745 sq ft uni, on the second floor, raked in a profit of $2.98 million (137%). The second-most profitable resale was for a 1,916 sq ft unit at Coronation Grove for $3.6 million ($1,879 psf), resulting in a profit of $2.1 million (140%).Resale prices at Orion have moderated after peaking at $2,212 psf in March 2016, while Pebble Bay lists an average price of $1,716 psf. The neighbouring D’Grove Villas at Orange Grove Road has an average price of $2,544 psf, and luxury condo Ardmore 3 on Ardmore Road commands an average price of $3,742 psf.

The most unprofitable resale transaction over the week of Sept 19 to 26 was the sale of a 1,776 sq ft unit at Orion, a freehold condo at Orange Grove Road in prime District 10. The four-bedroom unit, on the 10th floor, fetched $3.93 million ($2,216 psf) and had been purchased for $5.36 million ($3,018 psf) in July 2007, resulting in a loss of $1.43 million (27%) for the seller.

This transaction has set a record loss at the condo, with the previous record loss at Orion occurring in January 2010, when a 1,518 sq ft, three-bedroom unit, on the 23rd floor was sold for $3.38 million ($2,227 psf). The seller had purchased the unit for $4.4 million (42,901 psf) in August 2007, which resulted in a loss of $1.02 million (23%), translating to an annualised loss of 10% over two years.

Pebble Bay was the most profitable transaction during the week. On Sept 21, a four-bedroom, 2,745 sq ft unit, on the second floor, was sold for $5.15 million ($1,876 psf). This was a significant increase from the March 1995 purchase of $2.19 million ($799 psf), resulting in a profit of $2.98 million (137%), with an annualised gain of 3.1% over 29 years.

The second most profitable resale was also lodged during the week, this time for a 1,916 sq ft unit at Coronation Grove, a 999-year leasehold condo on Coronation Road. The unit, on the third floor, was sold for $3.6 million ($1,879 psf) on Sept 22, with a purchase price of $1.5 million ($783 psf) in February 2007. As a result, the seller achieved a profit of $2.1 million (140%), translating to an annualised gain of 5.4% over 17 years.

Resale prices at Orion have moderated after peaking at $2,212 psf in March 2016, with an average price of $1,917 psf as of end-September. Comparatively, the neighbouring D’Grove Villas at Orange Grove Road commands an average price of $2,544 psf, while luxury condo Ardmore 3 on Ardmore Road has an average price of $3,742 psf, one of the highest in the area.

Pebble Bay lists an average price of $1,716 psf; higher than Casuarina Cove ($1,444 psf) and Costa Rhu ($1,519 psf), but lower than Camelot-by-the-water (about $1,822 psf). There have been 10 resale transactions at Pebble Bay so far this year, and all were profitable. The most profitable so far was the sale of a 6,114 sq ft penthouse unit, on the 17th floor, for $9 million ($1,472 psf) on July 26, resulting in a profit of $4.7 million (109%), with an annualised gain of 3.4% over close to 22 years.

Coronation Grove is a boutique condo comprising 24 units, ranging from 1,044 to 2,217 sq ft, and is one of the few low-rise condos within the semi-detached landed housing estate along Coronation Road. The record profit achieved at the condo leapt over the previous record of $1.46 million, when a 1,249 sq ft unit, on the third floor, was sold for $2.32 million ($1,858 psf) on July 18. The seller had purchased the unit for about $860,600 ($689 psf) in July 1999, which resulted in a profit that translates to an annualised gain of 4.2% over 24 years.

The Jurong Lake District, located in the West Region of Singapore, is gaining more attention as its transformation into a vibrant regional centre with integrated development progresses. Jurong Lake District Condo is one of the many developments planned for the area, offering luxurious and modern living spaces for residents. It is set to become one of the most sought after addresses in Singapore, bringing unrivalled connectivity and convenient lifestyle options to its tenants.

Overall, despite the most unprofitable resale at Orion, there have been many profitable transactions over the week. The highest profits were seen at Pebble Bay and Coronation Grove, while prime District 10 properties remain attractive with their average prices being among the highest in the area.