Singaporeans are so inundated with stories of property tycoons, million-dollar profits, and “safe haven” theories, we forget that property can sometimes become a liability. While it’s far from the norm, some property owners do get burned when it comes to resale gains; and the losses can be more substantial than expected. Consider the following properties which, despite 2024 still being a fairly high point in the market, managed to rack up losses:
Condos that saw the biggest losing transactions in 2024
| Project |
Bought At |
Bought Date |
Size (Sq Ft) |
Sold At |
Sold Date |
Loss ($) |
Loss (%) |
| THE LUMOS |
$8,220,450 |
8/8/07 |
2,433 |
$5,700,000 |
25/4/24 |
-$2,520,450 |
-31% |
| TURQUOISE |
$5,473,600 |
29/10/07 |
2,164 |
$3,000,000 |
12/1/24 |
-$2,473,600 |
-45% |
| CITYVISTA RESIDENCES |
$8,074,106 |
26/7/07 |
2,809 |
$5,800,000 |
7/5/24 |
-$2,274,106 |
-28% |
| MARINA BAY SUITES |
$7,700,000 |
22/6/15 |
2,691 |
$5,650,000 |
21/5/24 |
-$2,050,000 |
-27% |
| HILLTOPS |
$6,535,442 |
12/10/07 |
1,550 |
$4,600,000 |
21/6/24 |
-$1,935,442 |
-30% |
| SEASCAPE |
$6,800,000 |
24/10/13 |
2,680 |
$5,050,000 |
8/5/24 |
-$1,750,000 |
-26% |
| HELIOS RESIDENCES |
$6,304,100 |
30/7/07 |
1,916 |
$4,600,000 |
10/1/24 |
-$1,704,100 |
-27% |
| THE SCOTTS TOWER |
$2,686,828 |
17/1/13 |
657 |
$1,300,000 |
24/4/24 |
-$1,386,828 |
-52% |
| MARINA BAY SUITES |
$6,288,000 |
23/12/09 |
2,680 |
$5,000,000 |
31/1/24 |
-$1,288,000 |
-20% |
| MARINA BAY RESIDENCES |
$4,050,000 |
24/5/11 |
1,227 |
$2,800,000 |
22/3/24 |
-$1,250,000 |
-31% |
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