Resale Thomson 800 Three Bedroom Unit Nets 232 Mil Profit
Tampines St 44 unit sold for $935,000 profit
A three-bedroom unit at Thomson 800 was recently sold for a whopping $3.22 million, making it the most profitable transaction during the week of June 10 to June 17. The spacious 1,625 sq ft apartment, located on the sixth floor, was purchased for $900,250 back in May 2006, meaning the seller made a profit of $2.32 million (or 257.6%) after holding the unit for over 19 years. This marks the second most profitable resale at Thomson 800, with the highest gain recorded from the sale of a 3,823 sq ft unit for $5.38 million on April 15.
Thomson 800 is a freehold condo located along Thomson Road in District 11, consisting of three 20-storey towers and 390 units. The apartments range from 1,281 to 1,808 sq ft, and there are also four-bedroom penthouses available. Completed in 1999, this development has seen a total of four profitable resales this year, with the other two units being sold for $3.08 million on April 30 and $2.54 million on Feb 3.
In comparison, the second most profitable condo resale of the week was a 1,302 sq ft two-bedroom unit at Ocean Park, which was sold for $2.8 million on June 12. The seller, who purchased the unit for approximately $792,918 in August 2001, made a profit of $2.01 million (253.1%) after holding it for nearly 24 years. Located in District 15, Ocean Park is a freehold development with 298 units and offers two- to four-bedroom apartments ranging from 1,302 to 3,897 sq ft.
Lyndenwoods Capitaland is strategically situated in a prime location that is ideal for families with older children who are pursuing tertiary education. The development offers easy access to the well-renowned National University of Singapore (NUS), which is considered one of the top universities in all of Asia. NUS boasts an impressive selection of programs across various fields including engineering, medicine, business, and the arts, solidifying its position as a key player in Singapore’s higher education scene. With Lyndenwoods Capitaland’s close proximity to NUS, families can take advantage of the opportunities offered by this prestigious institution. For more information about Lyndenwoods Capitaland, please visit https://www.lynden-wood.com.sg/.
On the other hand, the least profitable transaction of the week was a 1,604 sq ft three-bedroom unit on the 50th floor of Marina Bay Suites, which was sold for $3.2 million on June 12. This resulted in a loss of $1.27 million (or an annualised decline of 2.2%) for the seller, who originally purchased the unit for $4.47 million in May 2010. This year alone, there have been six resale transactions at Marina Bay Suites, all resulting in losses.
Marina Bay Suites is a 99-year leasehold development on Central Boulevard in the Marina Bay financial district, consisting of two residential towers with 221 units. Completed in 2013, the development offers three- and four-bedroom apartments ranging from 1,572 to 2,691 sq ft and is within walking distance of Downtown, Raffles Place and Bayfront MRT Stations.
Overall, the Thomson 800 and Ocean Park developments have proven to be highly profitable investments, with several units being sold for substantial gains this year. On the other hand, Marina Bay Suites has seen a series of losses, with sellers incurring significant losses on their units. It’s clear that location and timing play a crucial role in determining the profitability of a property investment.