News by Tan Chee Yuen

The 360-unit Skysuites@Anson is 88% sold.

Super-expensive condos in Singapore have recently been sold.

Some investors are adopting a long-term position by buying units in ageing, freehold buildings in the prime Orchard Road belt.

On July 24, a 4,069 sq ft unit at Seascape in Sentosa Cove was sold at a S$3.8 million (RM12 million) loss.

Sales of new and completed projects in prime residential Districts 9 and 10 have picked up.

The top three most profitable deals in the week of May 9 to 16 were in prime Districts 9 and 10, and they were for big, four-bedroom units in older developments.

On May 16, a 2,228 sq ft, three-bedroom penthouse at One Balmoral changed hands for S$4.48 million (S$2,012 psf), the largest transaction in the development so far in terms of absolute price.

Sales of luxury condominiums in the prime districts have been picking up steadily. This was evident in April.

A 2,885 sq ft, high-floor unit at Ardmore Park changed hands for S$9.70 million (RM30 million) (S$3,363 psf), according to a caveat lodged on April 18. The seller reaped a profit of S$2.45 million, or 3.8% annually, having purchased the unit for S$7.25 million (S$2,513 psf) in June 2009.

The concept for the luxury development was conceived in 2011 and the entire Ion Delemen development is expected to be completed by 2018.