Penthouse Orchid Mansion Amber Road Fetches Record Profit 258 Mil

As outlined in the URA’s comprehensive master plan, Tampines is set for a significant transformation to solidify its position as a self-sustaining regional hub. This ambitious initiative entails a range of improvements such as expanding transportation options, establishing new commercial amenities, and introducing lifestyle and community-centered developments to enhance the overall quality of life for its residents. With the eagerly-awaited Aurelle of Tampines EC in the picture, residents can expect a future where convenience is heightened, property values are boosted, and the community thrives in a dynamic and thriving environment. Aurelle of Tampines is poised to be a key player in this exciting chapter of Tampines’ growth.

The sale of a three-bedroom penthouse unit at Orchid Mansion, a freehold condo on Amber Road in District 15, on December 31 has resulted in an impressive profit of $2.58 million, making it the most profitable resale transaction from December 31, 2024 to January 7, 2025. This marks a significant 112% increase from the previous purchase price of $2.3 million for the 2,842 sq ft unit on the 21st floor in March 2009. With an annualized profit of 4.9% over a period of 16 years, this sale has also set a new record as the most profitable resale transaction at Orchid Mansion, surpassing the previous record of $1.15 million (72.6%) for a 1,507 sq ft three-bedroom unit on the seventh floor, which was sold for $2.73 million ($1,812 psf) in July 2022. This unit had been bought for $1.58 million ($1,050 psf) in June 2007. The penthouse at Orchid Mansion was sold for $4.88 million on Dec 31. The 20-year-old condo is located at 11 Amber Road and comprises a 21-story residential tower with a mix of two- and three-bedroom units ranging from 1,346 sq ft to 2,002 sq ft. There are also two penthouses, measuring 2,842 sq ft and 2,734 sq ft, respectively. The second most profitable resale transaction during the week took place at Villa Marina, when a three-bedroom unit on the ground floor was sold for $2.35 million ($1,446 psf) on January 3. The unit, measuring 1,625 sq ft, had been purchased for a significantly lower price of $630,500 ($388 psf) in September 2006, making it a profitable resale transaction with a profit of $1.72 million (273%) for the seller. This translates to an annualized profit of 7.6% over a period of 18 years. This sale also beat the previous record of $1.58 million (219%) for a 1,916 sq ft unit on the fourth floor, which was sold for $2.3 million ($1,200 psf) in July last year. That unit had previously been purchased for $720,416 ($376 psf) in November 1998. Villa Marina is a 99-year leasehold development located at Jalan Sempadan in District 15. Completed in 1999, the condo comprises 27 low-rise residential blocks with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The 460,685 sq ft site surrounds the Masjid Kampong Siglap mosque and is in close proximity to Siglap MRT station along the Thomson-East Coast Line and East Coast Park. Several primary schools, such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School, and Tao Nan School, are also located within 1km of the development. On the other hand, the least profitable resale transaction of the week was the sale of a 1,130 sq ft unit at Marina Bay Residences for a loss of $386,000 (16%) on Jan 2. This two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf), but it had been purchased for $2.49 million ($2,200 psf) in November 2007. This translates to an annualized loss of 1% over a period of 17 years. In comparison, Marina Bay Residences recorded 25 resale transactions last year, of which 13 were unprofitable, with losses ranging from $43,600 to $1.25 million. The most unprofitable resale transaction involved a 1,227 sq ft unit sold for $2.8 million ($2,282 psf) on March 22, 2024. According to resale caveats at Marina Bay Residences, the average resale price at the condo last month was $2,242 psf, which is higher than the average price at nearby condos such as The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf), and Marina One Residences ($2,133 psf). Marina Bay Residences, a 428-unit development on Marina Boulevard, recently underwent a $5 million revamp from January 2022 to September 2023, which saw improvements to resident facilities and common spaces throughout the 15-year-old condo. It is one of two 99-year leasehold luxury condos in Marina Bay Financial Centre (MBFC), which also comprises three Grade-A office towers, Marina Bay Residences, and the 221-unit Marina Bay Suites.