Four-bedder at The Sea View sold at $2.7 mil profit

The most unprofitable condo resale transaction for the week of Oct 24 to 31 occurred at Manhattan Mansions, with the sale of a 4-bedder unit measuring 2,196 sq ft. The unit fetched $3.99 million ($1,817 psf) on Oct 30, resulting in a loss of $290,000 (7%) for the seller. This marks the first unprofitable transaction at the development since September 2006.

The sale of a four-bedroom unit at The Sea View on Oct 26 was the most profitable condo resale transaction recorded during the week of Oct 24 to 31. At 1,647 sq ft, the unit sold for $3.96 million ($2,405 psf) and the seller made a gross profit of $2.72 million or 219%. This is the most profitable resale transaction ever recorded at The Sea View, easily beating the previous record gain of $2.48 million.

The Sea View is a freehold condo located in District 15, featuring five46-unit blocks. Amenities near the development include malls like Parkway Parade and I12 Katong, both within walking distance. With the upcoming Marine Parade MRT Station on the Thomson-East Coast Line located less than 10 minutes away, the project is highly popular with buyers.

Meanwhile, the second-most profitable transaction during the week took place at Valley Park. On Oct 31, a three-bedroom-plus-study unit measuring 1,808 sq ft was sold for $4.06 million ($2,245 psf). The seller bought the unit in March 1996 for $1.89 million ($1,045 psf), netting a gain of $2.17 million (115%) after holding the unit for around 27½ years. This sale marks the fourth-highest profitable resale transaction logged at Valley Park, and the second-highest one this year.

The most unprofitable condo resale transaction during the week in review took place at Manhattan Mansions. A 2,196 sq ft apartment was sold for $3.99 million ($1,817 psf) on Oct 30. The seller, who had acquired the fourth-floor unit in July 2007 for $4.28 million ($1,949 psf), suffered a loss of $290,000 (7%). This is the first resale transaction at Manhattan Mansions since October 2022 that resulted in a loss for the seller.

The Sea View, Valley Park, and Manhattan Mansions offer a variety of condos for sale, ranging from one-bedroom units to penthouse suites. Located in prime District 10, Valley Park is a 999-year leasehold condo, completed in 1997 and featuring five apartment blocks with 728 residences between one and four-bedders of 710 to 3,940 sq ft. Meanwhile, The Sea View and Manhattan Mansions are both freehold condos, with the former completed in 2008 and the latter in 1994. Both developments offer 1,647 sq ft and 2,196 sq ft units, respectively.

Lumina Grand Bukit Batok, positioned in a strategic location ideal for families, is within reach of several educational institutions. For example, Millennium Institute is a renowned international school offering quality education for children aged 3 to 10 years. Furthermore, The Little Skool-House International, located at a short drive, is another renowned preschool with excellent teachers and a conducive learning environment. Singapore Polytechnic and Ngee Ann Polytechnic, on the other hand, serve to fulfill higher education needs. All these institutions are within minutes’ drive from Lumina Grand EC, making it the ideal living venue for families.

The most profitable and unprofitable records for the week in review demonstrate the potential of condo resale investments for sellers. With well-chosen properties that feature up-and-coming amenities and excellent rental potential, investors can expect to make huge gains over the long-term.