The sale of the three-bedroom unit at Palm Spring on Jan 20 was the most profitable resale transaction during the period of Jan 14 to 28. According to records, the unit, which measures 1,884 sq ft and is located on the fourth floor, was sold for $4.4 million, achieving a per square foot price of $2,336. The previous owner had purchased the unit back in August 2005 for $1.21 million, which translates to a price per square foot of $642. This means that the seller made a profit of $3.19 million, a significant 264% increase from the purchase price. When calculated on an annualised basis, this translates to a profit of 6.8% over the nearly 20-year period. This resale transaction has also set a new record at Palm Spring for the most profitable sale to date, surpassing the previous record of $2.56 million (185%) set in April 2023 when a 1,970 sq ft unit on the first floor was sold for $3.94 million ($2,000 psf). This unit was originally purchased for $1.38 million ($701 psf) in January 2003.EdgeProp Singapore – a website that provides information on Singapore’s property market – has recorded a consistent increase in prices at Palm Spring over the past 20 years. In January 2021, the average transacted price was approximately $2,342 psf, a considerable increase from $1,439 psf in January 2015. The average price was even lower at $973 psf back in January 2005. Last year, two units at Palm Spring were sold – a 947 sq ft unit for $2.19 million ($2,312 psf) in September and a 1,496 sq ft unit for $3.36 million ($2,246 psf) in October. These transactions resulted in profits of $990,000 and $2.24 million, respectively.Palm Spring is a freehold condominium located on Ewe Boon Road in prime District 10. It was completed in 1997 and is currently 28 years old. The condo boasts a prime location, being close to both Stevens MRT Interchange on the Downtown (DTL) and Thomson-East Coast Lines, as well as Newton MRT Interchange on the North-South Line and DTL. Another plus point is its freehold tenure, which many consider to be a premium in Singapore’s property market.In comparison, the second most profitable resale transaction during this period was the sale of a four-bedroom unit at Orchard Bel Air, which made a profit of $3 million (182%) when it was sold on Jan 15 for $4.65 million ($1,440 psf). The 3,229 sq ft unit is situated on the 12th floor and was purchased back in May 2001 for $1.65 million ($511 psf). This translates to an annualised profit of 4.5% over a period of almost 24 years.Orchard Bel Air is a 99-year leasehold condo on Orchard Boulevard in prime District 10. Completed in 1984, the condo has approximately 54 years left on its land tenure. Next to Orchard Bel Air is a government land sale (GLS) site on Orchard Boulevard that was awarded to UOL-SingLand last February with a winning bid of $428.28 million, a land rate of $1,617 psf per plot ratio. Orchard Bel Air holds the record for the most profitable transaction in its vicinity, with the sale of a 6,512 sq ft penthouse unit on the 25th floor that brought in $8.3 million ($1,275 psf) when it was sold in January 2013. This unit was originally bought for $3.83 million ($588 psf) in March 2006, giving its seller an impressive profit of $4.47 million.Over the past 24 years, Orchard Bel Air has seen a steady increase in prices, with an average transacted price of $3,043 psf. In comparison, its neighbouring 99-year leasehold condo, Cuscaden Reserve, commands an average price of $3,043 psf.Marina Bay Suites was the site of the most unprofitable transaction over the period of Jan 14 to 28. On Jan 24, the seller of a 1,625 sq ft unit on the 58th floor incurred a loss of $1.15 million (27%) when it was sold for $3.1 million ($1,907 psf). The previous transaction occurred in May 2012, when the unit was sold for $4.25 million ($2,614 psf). This means that the seller experienced an annualised loss of 27% over nearly 13 years. This deal is the latest in a series of unprofitable transactions at Marina Bay Suites, with 14 consecutive loss-making deals recorded in the past nine months. The losses from these deals range from $40,000 to $2.5 million. Marina Bay Suites is a 99-year leasehold condo that is part of the larger Marina Bay Financial Centre mixed-use development at Central Boulevard and Marina Boulevard. The 221-unit Marina Bay Suites comprises a 66-storey residential tower with a mix of three- and four-bedroom units. The average selling price at Marina Bay Suites has decreased from $2,502 psf in January 2015 to $1,921 psf as of January. In comparison, other nearby 99-year leasehold condos, such as The Sail @ Marina Bay ($2,047 psf), Marina Bay Residences ($2,242 psf), Marina One ($2,103 psf) and V on Shenton ($2,027 psf), command higher resale prices.This concludes the summary of the most profitable and unprofitable resale transactions over the period of Jan 14 to 28.