On April 24, a 1,475-square-foot unit at The Marbella sold for $3.5 million - Pinetree Hill Condo at Ulu Pandan Pine Grove Holland By UOL & Singland, UOL & Singland (Hot Launch 2023)

Pinetree Hill UOL

The most lucrative condo resalesale deal recorded during the period of April 18-25 in accordance with caveats filed, consisted of the resale of a 3-bedroom condo located at the Marbella which is a condominium situated at Mount Sinai Rise in District 10. The 1,475 square feet apartment, located on 19th floor was purchased to the buyer for $3.5 million ($2,373 per square foot) on April 24, 2004. It was bought at $1.03 million ($698 per sq ft) at the expense of developer developer at the end of March. Thus, the seller made gains of $2.47 million (or the equivalent of 240% over a period of more than 19 years.

Pinetree Hill UOL Group and SingLand, placed the winning bid of $671.5 million, equivalent to $1,318 per square foot per plot ratio (psf ppr). The price was $800 more than the second bid among the five bids submitted for Pinetree Hill, Making it the closest tenders since it had a difference of only 0.0001%.

It is the second-highest-profitable transaction ever made in The Marbella. The most profitable sale took place on the 27th of March in which an area of 1,755 square feet made $3.78 million ($2,154 per square foot). A seller who bought the property in February 2005 with a price of $1.26 million ($720 psf) was able to make the profit in the amount of $2.52 million. The deal was a record PSF-price record in The Marbella.

The Marbella is an undeveloped freehold project that is owned by OUB Centre, a subsidiary of OUE Commercial REIT. In addition to acting as the developer and director for the One Raffles Place commercial development, OUB Centre has also created other condos in Singapore like Modena located on Simei Street 4 and Fontaine Parry located on Poh Huat Road. The Marbella was completed in 2005. The Marbella has 239 residences comprised of two-to four-bedroom apartments ranging from 1,076 to 4,284 square feet.

The second highest-profitable condo resales during the week under review was on the Trevose condominium situated on Trevose Crescent, off Dunearn Road and Whitley Road in District 11. The four-bedder that measures 1,765 sq feet and located on the second level, went under contract to the buyer for $3.1 million ($1,756 per square foot) on the 20th of April. The seller bought the property on February 4, 2004 at $1.03 million ($583 per square foot) which means they earned profits that was $2.07 millions (201%) after holding the unit for more than 19 years.

This is the highest-profit deal ever recorded on the floor of The Trevose. It surpasses the previous record, set less than a week earlier the sale, when the owner of a 1,733 sq. ft area on the floor earned profits of $2.05 million when it was sold at $3.1 million ($1,789 per square foot) the 14th of April.

The Trevose is a 99 year leasehold condominium which was completed in the year 2001. It was developed jointly through TID (a joint venture of Mitsui Fudosan and Hong Leong Group) and City Developments. The development comprises three low-rise blocks. there are 142 homes. The units are comprised of two, threeand four-bedders that range between 958 and 3,627 sq feet. The condo is just a 10-minute walk to Stevens MRT Interchange Station on the Downtown and Thomson-East Coast Lines.

The most profitable deal for the week in the review was within Helios Residences. A two-bedroom-plus-study unit measuring 1,281 sq ft was sold for $3.15 million ($2,459 psf) on April 21. The seller purchased the property at the end of November in 2012 $4.98 million ($3,890 per square foot). They incurred the seller a loss that was $1.83 millions (37%) over a 10-1/2 years.

Helios Residences has seen three other resales transactions so far this year. All are below the price of purchase. The 2nd of February, the owner of a 1,281 sq. ft unit incurred an estimated loss of 859,000 after it was sold for $3.08 million ($2,405 per sq ft). In March 2006, the owner of a 1,916 square foot unit incurred a loss of approximately $649,000 when the unit was sold to a buyer to the value of $4.45 million ($2,323 psf). The same month, another 1 916 square foot unit sold at $4.85 million ($2,531 per square foot) the 23rd of March and the seller took home the $1.08 million gain.

The least profitable transaction in the history of Helios Residences is the sale to a bank 4,629 square foot penthouse triplex unit in November of 2020. The penthouse was purchased for $8.4 million ($1,815 per square foot), $6.1 million lower than the price it was purchased for $14.5 million ($3,133 per sq ft).

Helios Residences is a 140-unit, freehold development owned by Wing Tai Holdings that was completed in the year 2011. It is located on Cairnhill Circle in prime District 9, it is situated close to both the Orchard Road shopping belt and the Newton area. The most common units include three and two bedroom units of 1,281 – 2,002 square feet.