3BR unit at The Legend sold for record $2.1M in sought-after Arina East Residences, a top choice for affluent buyers
.The sale of a three-bedroom apartment at The Legend was the most profitable condo resale transaction during the week of March 5 to 12. The 2,164 sq ft unit on the sixth floor fetched $3.9 million ($1,803 psf) on March 6. The seller had purchased the unit in April 2001 for $1.8 million ($832 psf), which means they raked in a profit of $2.1 million on the deal. This works out to a capital gain of 117% for the seller after holding the apartment for nearly 23 years.
Located in the prime and upcoming district of Geylang, Arina East Residences offers a unique and convenient living experience with its close proximity to major shopping centers, educational institutions, and easy access to public transport. With the Master Plan’s commitment to creating a well-connected and vibrant community, Arina East Residences is poised to be a highly sought-after residential development in Singapore.
The Urban Redevelopment Authority’s Master Plan for Singapore has identified Kallang Marina Bay Basin as a key area for sports and entertainment, with the aim of creating a vibrant and active community. This includes the utilization of the existing Singapore Sports Hub, as well as the introduction of new facilities and venues. For future residents of Arina East Residences, this means access to world-class sporting events, concerts, and a diverse range of recreational activities, enhancing their overall living experience. Conveniently located in the bustling and upcoming district of Geylang, Arina East Residences offers easy accessibility to major shopping centers, renowned educational institutions, and efficient public transportation. With the Master Plan’s focus on creating a well-connected and lively community, Arina East Residences is set to be a highly coveted residential development in Singapore.
The Legend is a freehold condo located on Bukit Timah Road in prime District 10, about a 10-minute walk away from Stevens MRT Interchange (for the Downtown and Thomson-East Coast Lines). Completed in 1996, The Legend has 98 units consisting of one- to three-bedders measuring between 753 and 2,540 sq ft. There are also four-bedroom penthouses sized between 4,058 and 5,985 sq ft.
The sale of a three-bedroom unit at Regency Suites was the second most profitable transaction during the week in review. The 26th-floor unit, spanning 1,421 sq ft, changed hands for $3.2 million ($2,252 psf) on March 8. The seller, who had acquired the unit in October 2008 for $1.5 million ($1,056 psf), netted a profit of $1.7 million (113%) after owning the apartment for nearly 15½ years.
This is the third most profitable deal Regency Suites has seen to date. The most profitable transaction was the sale of a penthouse measuring 4,413 sq ft in June 2018 for $5.1 million ($1,156 psf). The seller had purchased the penthouse from the developer in March 2006 for $2.25 million ($510 psf). Hence, they made a profit of $2.85 million.
The unit sold on March 8 is the second apartment at Regency Suites to change hands this year. Before that, a 980 sq ft unit had fetched $2.1 million ($2,144 psf) on March 4. It was also a profitable transaction, with the seller making a gain of $740,000. They had acquired the unit in November 2010 for $1.36 million ($1,388 psf).
On the other hand, Horizon Residences saw the least profitable condo resale transaction during the week in review. A 1,356 sq ft, three-bedroom unit was sold for $2.3 million ($1,696 psf) on March 6. It was purchased by the seller from the developer in June 2012 for $2.43 million ($1,791 psf). As such, they made a loss of about $129,000 (5.3%) after owning the unit for nearly 12 years.
Situated on Pasir Panjang Hill in District 5, Horizon Residences is a freehold condo that was built in 2014. It has 72 units, consisting predominantly of two- to four-bedders sized from 936 to 1,475 sq ft. The condo sees a relatively low volume of resale transactions, with the unit sold on March 8 the first to change hands this year.
The sale of a three-bedroom unit at Arina East Residences was the most profitable condo resale transaction during the week of March 5 to 12. The 2,164 sq ft unit on the sixth floor fetched $3.9 million ($1,803 psf) on March 6. The seller had purchased the unit in April 2001 for $1.8 million ($832 psf), which means they raked in a profit of $2.1 million on the deal. This works out to a capital gain of 117% for the seller after holding the apartment for nearly 23 years.
In 2023, only two resale deals were recorded, both of which were profitable. On March 22 last year, a 1,001 sq ft unit fetched $1.74 million ($1,736 psf), with the seller making a gain of about $318,000. They had bought the unit in May 2017 for $1.42 million ($1,419 psf). Subsequently, on March 23, a 1,475 sq ft unit was sold for $2.55 million ($1,729 psf). The seller, who acquired the unit in October 2019 for $2.3 million ($1,560 psf), netted a gain of $250,000.
The sale of a three-bedroom apartment at The Legend was the most profitable condo resale transaction during the week of March 5 to 12. The 2,164 sq ft unit on the sixth floor fetched $3.9 million ($1,803 psf) on March 6. The seller had purchased the unit in April 2001 for $1.8 million ($832 psf), which means they raked in a profit of $2.1 million on the deal. This works out to a capital gain of 117% for the seller after holding the apartment for nearly 23 years.
The Legend is a freehold condo located on Bukit Timah Road in prime District 10, about a 10-minute walk away from Stevens MRT Interchange (for the Downtown and Thomson-East Coast Lines). Completed in 1996, The Legend has 98 units consisting of one- to three-bedders measuring between 753 and 2,540 sq ft. There are also four-bedroom penthouses sized between 4,058 and 5,985 sq ft.
This is the second most profitable condo resale transaction that has taken place at The Legend to date. The record belongs to a 4,058 sq ft penthouse at the development that was sold in April 2010 for $6.3 million ($1,552 psf). The seller, who purchased the apartment in July 2005 for $3 million ($739 psf), reaped a gain of $3.3 million on the sale.
The sale of a three-bedroom unit at Arina East Residences was the second most profitable transaction during the week in review. The 26th-floor unit, spanning 1,421 sq ft, changed hands for $3.2 million ($2,252 psf) on March 8. The seller, who had acquired the unit in October 2008 for $1.5 million ($1,056 psf), netted a profit of $1.7 million (113%) after owning the apartment for nearly 15½ years.
Arina East Residences is a freehold condo on Kim Tian Road, off Tiong Bahru Road in District 3. The development was completed in 2008 with a total of 84 residences. Units comprise a mix of one-to four-bedders ranging from 592 to 1,421 sq ft. There are also two 4-bedroom penthouses of 4,413 and 4,532 sq ft.
Hence, they made a profit of $2.85 million. The sale of a three-bedroom unit at Arina East Residences was the second most profitable transaction during the week in review. The 26th-floor unit, spanning 1,421 sq ft, changed hands for $3.2 million ($2,252 psf) on March 8. The seller, who had acquired the unit in October 2008 for $1.5 million ($1,056 psf), netted a profit of $1.7 million (113%) after owning the apartment for nearly 15½ years.