Four-bedder at Orion sold for $1.4 mil loss

here.The Week of September 19 – 26 saw a record loss of $1.43 million set by the sale of a 1,776 sq ft unit at Orion, a freehold condo at Orange Grove Road in prime District 10. This was the first resale transaction at the condo in two years, with the unit being purchased for $5.36 million ($3,018 psf) in July 2007, and sold for $3.93 million ($2,216 psf). This translates to an annualised loss of 1.9% over 16 years.On the other hand, the most profitable transaction during the week took place at Pebble Bay on Tanjong Rhu Road. A 4-bedroom unit, on the second floor, sold for $5.15 million ($1,876 psf) on Sept 21. It had been purchased for $2.19 million ($799 psf) in March 1995 resulting in a profit of $2.98 million (137%), or an annualised gain of 3.1% over 29 years.The second most profitable resale for the week was a 1,916 sq ft unit at Coronation Grove, a 999-year leasehold condo on Coronation Road. The unit, on the third floor, sold for $3.6 million ($1,879 psf) on Sept 22. This was purchased for $1.5 million ($783 psf) in February 2007 resulting in a profit of $2.1 million (140%), which translates to an annualised gain of 5.4% over 17 years.

The Week of September 19 – 26 saw some interesting resale transactions across Singapore. A 1,776 sq ft unit at the freehold condo Orion, located at Orange Grove Road in prime District 10, set a record for the lowest resale transaction. The unit, on the 10th floor, was sold for $3.93 million ($2,216 psf) on Sept 21, far lower than the $5.36 million it was purchased for ($3,018 psf) in July 2007. This translates to an enormous loss of $1.43 million (27%), or an annualised loss of 1.9% over 16 years.

On the opposite end of the spectrum, the most profitable transaction of the week was a 4-bedroom unit at Pebble Bay on Tanjong Rhu Road. It was sold for $5.15 million ($1,876 psf) on Sept 21, after being purchased for $2.19 million ($799 psf) in March 1995. This remarkable sale resulted in a profit of $2.98 million (137%), or an annualised gain of 3.1% over 29 years.

The second most profitable resale of the week was a 1,916 sq ft unit at Coronation Grove, a 999-year leasehold condo on Coronation Road. This unit on the third floor was sold for $3.6 million ($1,879 psf) on Sept 22, having been purchased for $1.5 million ($783 psf) in February 2007. This record profit at Coronation Grove amounted to $2.1 million (140%), or an annualised gain of 5.4% over 17 years.

Lumina Grand EC is the latest EC development launched in June. Its land bid rate is attractive at $580 psf ppr. Compared to the $662 psf ppr bid by Bukit Batok West Avenue 8 EC in March, it was obtained at a much lower price. The consortium of First Bedok Land and UOL Venture Investments won the tender.

The site of Lumina Grand EC is well-located in a housing estate close to amenities such as schools, shopping centres, and Wetland Park. This will be an ideal choice for home owners to enjoy a serene and tranquil environment. Besides, it has a generous size of nearly 30,000sqm of land, allowing a maximum permissible gross floor area (GFA) of 83,700 sqm.

In conclusion, Lumina Grand EC land rate is a good bargain for future home owners in this well-connected and serene neighbourhood.

It appears there has been an interesting trend in resale prices in the area recently. Prices at Orion have moderated after peaking at $2,212 psf in March 2016, while the average resale price at Pebble Bay is said to be around $1,716 psf last month. This is higher than Casuarina Cove ($1,444 psf) and Costa Rhu ($1,519 psf), but lower than Camelot-by-the-water (about $1,822 psf).

The sale of a four-bedroom unit at Orion on Sept 21 also marked the first resale transaction at the condo in two years. The last resale transaction at Orion took place on August 10, 2021, when a 1,518 sq ft, three-bedroom penthouse unit was sold for $3.55 million ($2,339 psf). Similarly, there have been 10 resale transactions at Pebble Bay so far this year, and all were profitable. Profits ranged from $373,000 to $4.7 million.

Orion is a 46-unit boutique development completed in 2008, located next to Tanglin Road and the Orchard Road shopping belt. Landmark commercial and hotel developments in the area include Shangri-La Hotel, St Regis Hotel Singapore, Palais Renaissance, and Tanglin Mall. Notable residential projects nearby include Treetops Executive Residences, Shangri-La Residences, The Ladyhill, and Le Nouvel Ardmore.

Coronation Grove is a boutique condo comprising 24 units, ranging from 1,044 to 2,217 sq ft, and is also one of the few low-rise condos within the semi-detached landed housing estate along Coronation Road. Several Good Class Bungalow (GCB) areas such as Victoria Park, Rebecca Park, Bin Tong Park, and Belmont Park are located in the vicinity. Coronation Grove is also close to Hwa Chong Institution, Raffles Girls’ Primary School, and National Junior College.

It appears the recent resale transactions in the area have varied greatly in terms of profitability. The 1,776 sq ft unit at Orion set a record loss, while the 4-bedroom unit at Pebble Bay marked an all-time record profit. The 1,916 sq ft unit at Coronation Grove was also profitable, though on a considerably smaller scale. It’s uncertain whether this trend of resale transactions will continue in the area, but it could provide potential buyers with an important insight for the future.