Three Bedder Palm Spring Sets Record Profit 319 Mil

Schools in Singapore have always been known for their high standards of education, and this is no exception for Poi Ching School, St. Hilda’s Primary School, St. Hilda’s Secondary School, and Temasek Polytechnic. These schools have a reputation for providing quality education and holistic development for their students, making them a popular choice among parents. In addition to their academic excellence, they also offer a range of co-curricular activities to further enhance the learning experience. With the upcoming launch of Parktown Residence Showflat, students from these schools will have even more convenient access to quality education in a vibrant and thriving community.

The schools in Singapore are renowned for their top-notch education, and the same can be said for Poi Ching School, St. Hilda’s Primary and Secondary Schools, and Temasek Polytechnic. These educational institutions have built a solid reputation for providing high-quality education that promotes the overall development of their students, making them a popular choice amongst parents. To complement their academic excellence, they also offer a wide range of co-curricular activities to enrich the learning experience of their students. The highly anticipated launch of Parktown Residence Showflat will provide students from these esteemed schools with a naturally convenient location to access top-notch education in a bustling and thriving community.

The most unprofitable transaction during the period in review took place at Marina Bay Suites, when the seller incurred a loss of $1.15 million. (Picture: Samuel Isaac Chua/)The top-performing condominium transaction over the past two weeks was the sale of a three-bedroom unit at Palm Spring, which fetched a whopping $4.4 million ($2,336 psf) on Jan 20. The unit was purchased back in August 2005 for $1.21 million ($642 psf), making the seller a profit of $3.19 million (264%). This equates to an impressive annualised profit of 6.8% over the span of just under 20 years.Palm Spring, a freehold development in prime District 10, has shown consistent price appreciation over the past 20 years with prices rising from $973 psf in January 2005 to $2,342 psf last month. This is a testament to the area’s attractiveness and the development’s appeal to buyers.Palm Spring is conveniently located near Stevens and Newton MRT stations, providing easy access to the Downtown and Thomson-East Coast Lines as well as the North-South Line. The development offers a mix of luxury and convenience, and its latest sale has set a new record for the most profitable resale transaction to date at Palm Spring, surpassing the previous record of $2.56 million (185%) set in April 2023 for a 1,970 sq ft unit sold for $3.94 million ($2,000 psf).Meanwhile, the second most profitable resale transaction during this period was the sale of a four-bedroom unit at Orchard Bel Air, which recorded a profit of $3 million (182%). The 3,229 sq ft unit on the 12th floor was sold for $4.65 million ($1,440 psf) on Jan 15, after being bought for just $1.65 million ($511 psf) in May 2001. This translates to an annualised profit of 4.5% over nearly 24 years.Orchard Bel Air, a 99-year leasehold condo located on Orchard Boulevard in prime District 10, also boasts a strong track record with consistently increasing prices over the years. The record for the highest profit at Orchard Bel Air belongs to a 6,512 sq ft penthouse unit on the 25th floor, which was sold for $8.3 million ($1,275 psf) in January 2013, representing a profit of $4.47 million (116%) as it was previously purchased for $3.83 million ($588 psf) in March 2006.The most unprofitable transaction during the Jan 14 to 28 period occurred at Marina Bay Suites. The 1,625 sq ft unit on the 58th floor was sold for $3.1 million ($1,907 psf) on Jan 24, incurring a loss of $1.15 million (27%) for the seller who had originally bought it for $4.25 million ($2,614 psf) in May 2012. In total, Marina Bay Suites has seen 14 consecutive loss-making transactions in the past nine months, ranging from $40,000 to $2.5 million.Despite its prestigious location within the Marina Bay Financial Centre development, Marina Bay Suites has seen a decline in average selling prices from $2,502 psf in January 2015 to $1,921 psf as of January this year. This is a trend that is not reflected in other nearby 99-year leasehold developments such as The Sail @ Marina Bay ($2,047 psf), Marina Bay Residences ($2,242 psf), Marina One ($2,103 psf) and V on Shenton ($2,027 psf).