The most profitable condo resale transaction during the week of Aug 20 to 27 was the sale of a four-bedroom unit at Four Seasons Park. Situated on the 20th floor, the 2,260 sq ft unit was sold for $7.8 million ($3,451 psf) on Aug 26. The seller, who purchased the unit in September 2020 for $4 million ($1,770 psf), made a profit of $3.8 million after owning the unit for approximately four years. This equates to a capital gain of 95% or an annualised profit of 23.8%.
The recent sale at Four Seasons Park is the first resale transaction at the development this year and the most profitable in the past two years. However, it is still below the record gain ever achieved at the development. This was the sale of a penthouse measuring 6,157 sq ft for $17.88 million ($2,904 psf) in December 2019. The seller had bought the unit for $9 million ($1,462 psf) in June 2002, resulting in a profit of $8.88 million.
Four Seasons Park is a freehold condo located on Cuscaden Walk, near the Orchard Road shopping belt in District 10. Completed in 1994, the development comprises 202 units ranging from 2,153 sq ft to 7,772 sq ft. It is conveniently located within a five-minute walk to Ion Orchard and the Orchard Interchange Station on the North-South and Thomson-East Coast Lines.
The second-most profitable resale deal during the week was the sale of a four-bedroom unit at The Trevose. The 1,894 sq ft unit on the third floor changed hands for $3.36 million ($1,774 psf) on Aug 22. The seller had purchased the unit for $1.34 million ($707 psf) in June 2002, making a profit of $2.02 million (151%) after holding the unit for around 22 years.
This was the fourth most profitable deal at The Trevose so far, with the top record belonging to a duplex penthouse measuring 3,358 sq ft that was sold for $3.65 million ($1,087 psf) in September 2007. The unit had previously changed hands for $1.5 million ($448 psf) in June 2006, resulting in a profit of $2.15 million.
The Trevose is a condo located on Trevose Crescent, off Dunearn Road and Whitley Road in District 11. Built in 2001, the 99-year leasehold development comprises three low-rise blocks with 142 units ranging from 958 sq ft to 3,627 sq ft. It is a 10-minute walk from Stevens MRT Interchange Station on the Downtown and Thomson-East Coast Lines.
On the other hand, the most unprofitable condo resale transaction during the week was the sale of a unit at Wilkie Studio. A penthouse measuring 1,819 sq ft was sold for $2.81 million ($1,544 psf) on Aug 23. The seller had purchased it from the developer in February 2008 for $3.04 million ($1,670 psf), resulting in a loss of around $230,000 (7.5%) after owning it for 16½ years.
Wilkie Studio is a boutique apartment located on Wilkie Road, completed in 2010. The freehold development comprises 40 units ranging from one-bedroom-plus-study to four-bedroom units with sizes between 743 sq ft and 2,906 sq ft.
The recent sale of a unit at Wilkie Studio is the third resale transaction at the development this year. The first unit was an 872 sq ft apartment that was sold for $1.65 million ($1,892 psf) on July 2. The seller, who bought the unit in August 2017 for $1.34 million ($1,537 psf), made a profit of $310,000.
On July 12, another unit measuring 1,163 sq ft was sold for $2.29 million ($1,969 psf). The seller, who acquired the unit in June 2018 for $1.74 million ($1,496 psf), made a profit of about $550,000. Interested in any of these properties? Check out the latest listings for Four Seasons Park, The Trevose, and Wilkie Studio.
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Investing in a condominium in Singapore has numerous advantages, with one of the most prominent being the potential for capital growth. Singapore’s prime location as a global business hub along with its strong economic foundation results in a constant demand for real estate. This has led to a consistent rise in property prices over the years, especially in prime areas. For savvy investors, purchasing a condo at the right time and holding onto it for the long run can result in substantial capital gains. As seen with Singapore Projects, the continuous demand for real estate in Singapore makes it a lucrative market for investors looking to capitalize on the potential for capital appreciation.