In December 2024, a unit measuring 3,767 square feet at The Arcadia was sold for a record-breaking price of $4.75 million, making it the most profitable resale transaction between December 10 and December 31. The owner of the 4-bedroom unit, located on the 7th floor, was able to celebrate the new year with a massive profit of $3.25 million, or 217%. This means the property was sold for $1,261 per square foot. According to caveats, the previous owner had purchased the unit for $1.5 million, or $398 per square foot, back in 1998. This translates to an annualised profit of 4.5% over a span of 26 years.
Last year, there were a total of five units at The Arcadia that changed hands, ranging from 3,714 square feet to 3,821 square feet. These units were sold for profits ranging from $60,000 to $3.25 million. The second most profitable resale transaction occurred on October 10, 2014, when a 3,778 square feet unit on the fourth floor was sold for $4.6 million, or $1,218 per square foot. This provided the seller with a $60,000 profit.
In terms of the most profitable transaction to date at The Arcadia, that record belongs to a 7,503 square feet penthouse on the 10th floor that was sold for $10 million, or $1,333 per square foot, in 2010. The penthouse was originally purchased for $5.5 million, or $733 per square foot, in 2007. This means the seller made a $4.5 million profit, or 81%, which is equivalent to an annualised profit of around 19% over a span of three years.
The Arcadia is a 99-year leasehold condo located along Arcadia Road in prime District 11. The development, which has 164 units, was completed in 1983 and has approximately 54 years left on its land tenure. The property is situated in a highly coveted area surrounded by landed estates and Good Class Bungalows. It is also close to top schools such as Raffles Girls Primary School, Hwa Chong Institution, and National Junior College.
The second most profitable resale transaction that took place between December 10 and December 31, 2024, was a unit measuring 2,077 square feet at Tanglin Hill Meadows. The 3-bedroom unit, which was sold on December 10, went for $4.5 million, or $2,166 per square foot. The previous owner had bought the unit for $1.8 million, or $866 per square foot, in 1999. This resulted in a profit of $2.7 million, or 150%, which is equivalent to an annualised gain of 3.6% over a span of 26 years.
This also means that this transaction holds the record for the most profitable resale transaction at Tanglin Hill Meadows, surpassing the previous record of $2.28 million, or 157%, when a 2,002 square feet unit was sold for $3.73 million, or $1,863 per square foot, back in 2010. The unit had been purchased for $1.45 million, or $724 per square foot, in 2005, resulting in an annualised profit of approximately 21% over five years.
Tanglin Hill Meadows is a freehold condo located along Tanglin Hill in prime District 10. Completed in 1997, the development has 20 units and is nestled within the Ridley Park Good Class Bungalow Area.
On the other hand, losses continue to mount at Seascape, a 99-year leasehold condo in Sentosa Cove. The most recent loss was incurred by the seller of a 2,174 square feet unit on the seventh floor, who lost $1.97 million, or 33%, when the unit was sold on December 18. The 3-bedroom unit was sold for $3.98 million, or $1,830 per square foot, after being purchased for $5.95 million, or $2,736 per square foot, in 2011. This means the seller incurred an annualised loss of 2.5% over a span of 13 years.
This marks the third transaction at Seascape that resulted in a loss in 2024. All of these transactions recorded losses ranging from $1.75 million to $2.53 million. The second-largest loss-incurring transaction occurred on August 14, 2024, when a 2,680 square feet unit was sold for $4.5 million, or $1,679 per square foot.
The completed in 2012, Seascape has 151 units and overlooks the South China Sea. The 8-storey development offers 3-bedroom and 4-bedroom units measuring 2,164 square feet to 4,069 square feet. The penthouses are larger, ranging from 3,380 square feet to 4,252 square feet, while the sky villas measure between 6,631 to 9,666 square feet.