On June 15, the 1,259-square-foot unit sold for $2.2 million ($1,747 psf)

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Marina View Residences IOI Properties

The purchase of a three-bedroom apartment at De Royale was the most profitable resale deal in the week from June 13 through 20. The 1,259 square feet unit was purchased at $2.2 million ($1,747 per square foot) in June 15. This is more than $757,918 ($602 per sq ft) it was sold for in October of 2006. In the end, the seller made a profit of $1.44 million (190.2%), which is equivalent to an annualized income that was 6.6% over almost 17 years.

Marina View Residences IOI Properties is earmarked for residential and hotel use. The 0.78 ha or 84,000 sq ft site enjoys a maximum GFA of 1.09 million sq. ft.

It is the second highest-profitable resale of a property at De Royale to date. The most profitable deal was that of the 3,240 square feet four-bedroom penthouse which went under the hammer at $2.89 million ($895 per sq ft). The property was purchased at $1.43 million ($442 per sq ft) on March 5, 2005. The seller earned profits from $1.6 million (123%), which amounts to an annualised gain that was 6% over the course of 13 years.

Royale Royale is a freehold condominium located on Jalan Rama Rama, off Balestier Road in District 12. The Balestier area is serviced with Balestier Road is served by the Pan Island Expressway, Balestier Road and Thomson Road.

De Royale was developed by local property group Hoi Hup Realty, and was completed in the year 2006. The entire development comprises twin 36-storey blocks with a mix of two-bedroom-plus-study units to four-bedroom penthouses. The units range from 1,055 sq ft to 3,240 square feet.

Based on a compilation of URA restrictions from EdgeProp Singapore, the prices for De Royale have moved up gradually since the completion of the project. As an example, typical cost was around $1,175 psf in June 2013, and it increased to $1,593 this month.

This places De Royale as the second highest priced condo within the vicinity, behind that of the freehold Skysuites 17 located at 17 Jalan Rajah, which commands the most expensive average of around $1,789 per sq ft. The condos in the vicinity have lower average selling prices like Casa Fortuna ($1,471 per square foot) located on Ah Hood Road, D’Mira ($1,433 psf) located on Boon Teck Road, and The Verve ($1,420 per square foot) located on Jalan Rajah.

The second-highest profit sale of the week was on Tanglin Park in District 10. The 1,109 square feet 2-bedroom apartment sold for $2.6 million ($2,341 per sq ft) on 13 June. The unit was purchased at $1.22 million ($1,100 per square foot) at the beginning of February. The seller earned $1.38 millions (112.7%), which is equivalent to an annualized gain that was 3.3% over 23 1/2 years.

In comparison, the most profitable resale at Tanglin Park is for a 2,067 sq ft, three-bedroom-plus-study unit that changed hands for $4.5 million ($2,177 psf) in October 2010. The property was bought with $2.04 million ($985 per square foot). The seller earned profits that was $2.47 millions (121%), which amounts to an annualized gain that was 5.4% over 15 years.

It is situated at the corner between Tanglin Road and Ridley Park located at the corner of Ridley Park and Tanglin Road, 274 units Tanglin Park was built by Mainboard-listed property firm City Developments, and completed in 1989. The freehold condo consists of twelve five-storey blocks of residential units that comprise a variety of twoto four-bedroom apartments which range from 1,023 sq ft to 2,067 square feet.

Tanglin Park is located in the exclusive Tanglin residential area. The nearby facilities include the expansive Dempsey Hills retail and lifestyle enclave along with malls and hotel establishments in the vicinity of Tanglin Road. Queenstown Elementary School can be found located within 1km of the property as well as nearby schools like Alexandra Primary School, Crescent Girls’ School as well as Queenstown Secondary School.

On top of the list for most profitable transactions of this week are sales of two units in Marina Bay Residences. Two-bedders with 1,055 square feet was auctioned off to a buyer for $2.4 million ($2,275 per sq ft) the 13th of June. The previous price was $2.88 million ($2,731 per square foot) in April of 2010. The seller incurred the loss of around $481,00 (17.5%), or an annualized decrease in the range of 1.4% over 13 years.

On June 13 one of the three beds was purchased at $3.78 million ($2,310 per square foot). It was bought at $4 million ($2,450 per square foot) at the end of November. The seller incurred the deficit of $229,040 (5.7%), or an annualized decrease that was 0.3% over 15 1/2 years.

The Marina Bay Residences have had eight resales transaction within Marina Bay Residences so far this year. Six have resulted in losses that range between $90,000 and $481,080.

Marina Bay Residences is a 55-storey 428-unit condominium located on Marina Boulevard in District 1. This is the first of five high-rises comprising three Grade-A office towers as well as two residential towers which make up Marina Bay Financial Centre. The development also comprises Marina Bay Link Mall in the basement that connects Raffles Place and Marina Bay MRT Interchange Stations.

There’s only a handful of condos along this section along Marina Boulevard: The Sail @ Marina Bay, Marina Bay Suites, V on Shenton Marina One Residences, and V on Shenton.

Based on a table of resale caveats compiled by EdgeProp Singapore, Marina Bay Residences and Marina One command the highest average prices for the area at $2,187 per square foot and $2,379 per sq ft and $2,379 psf, respectively. In addition, The Sail @ Marina Bay offers units for an average of $1925 per square foot. In contrast, units in Marina Bay Suites fetch an average of $1,919 for a psf.