The second half of 2014 saw more luxury homes sold at loss-making prices, as a growing number of wealthy owners seek to sell off their trophy properties, reported the media.
Based on Maybank Kim Eng data, eight of the top 10 loss-making projects are located in District 9 and Sentosa island. Historically, these areas had attracted much higher foreign interest compared to other parts of Singapore.
The project that recorded the highest loss-making transaction was the Turquoise@Sentosa, in which one unit was sold for $3.9 million in July, or almost half of its $7.1 million original price when it was sold in November 2007.
Other projects that witnessed loss-making transactions in H2 2014 include Helios Residences, Orchard Scotts, The Grange, The Oceanfront@Sentosa Cove, The Orchard Residences (pictured), Tanglin Hill Condominium and The Cascadia.
Image source: CapitaLand
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
