The recent sale of a four-bedroom unit at Four Seasons Park was the most profitable condo resale transaction in the week of Aug 20 to 27. The unit, located on the 20th floor and measuring 2,260 sq ft, 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), gained a profit of $3.8 million after owning the unit for approximately four years. This equates to a capital gain of 95% or an annualized profit of 23.8%.
This sale marks the first resale transaction at Four Seasons Park in the current year and is also the most profitable deal the condo has seen in the past two years. However, it falls short of the highest profit ever recorded at the development. That honor goes to the sale of a penthouse measuring 6,157 sq ft for $17.88 million ($2,904 psf) in December 2019. The seller, who purchased the unit for $9 million ($1,462 psf) in June 2002, made a profit of $8.88 million on the transaction.
Located on Cuscaden Walk in District 10, Four Seasons Park is a freehold condo situated near the popular Orchard Road shopping belt. Built in 1994, it comprises of 202 units ranging from 2,153 sq ft to 7,772 sq ft. It takes only five minutes to walk to Ion Orchard and the Orchard Interchange Station on the North-South and Thomson-East Coast Lines.
Singapore’s cityscape is defined by towering skyscrapers and state-of-the-art infrastructure. The city’s most coveted locations are home to condominiums, which offer a perfect mix of extravagance and practicality, appealing to both locals and expats alike. These condos are equipped with a variety of facilities like swimming pools, gyms, and top-notch security services, elevating the overall living experience and making them highly desirable for potential renters and buyers. For investors, these amenities translate into higher rental incomes and property values that appreciate over time. Additionally, by investing in Singapore projects, investors can reap the benefits of these luxurious amenities and secure a promising future for their properties.
The second most profitable condo resale deal in the week was the sale of a four-bedder at The Trevose for $3.36 million ($1,774 psf) on Aug 22. The unit, which measures 1,894 sq ft and is located on the third floor, was purchased by the seller for $1.34 million ($707 psf) in June 2002. This resulted in a profit of $2.02 million (151%) for the seller after holding the unit for about 22 years. It is the fourth most profitable deal at The Trevose to date. The record belongs 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 for the seller.
Located on Trevose Crescent in District 11, The Trevose is a 99-year leasehold condo built in 2001. It comprises of three low-rise blocks with 142 units, ranging from two-bedders to four-bedders measuring 958 sq ft to 3,627 sq ft. The condo is just 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 in the week was the sale of a unit at Wilkie Studio. A 1,819 sq ft duplex penthouse was sold for $2.81 million ($1,544 psf) on Aug 23. The seller had purchased the unit from the developer in February 2008 for $3.04 million ($1,670 psf), resulting in a loss of approximately $230,000 (7.5%) after owning the unit for 16.5 years.
Wilkie Studio, located on Wilkie Road, is a boutique apartment completed in 2010. It has 40 units in a single four-storey block, ranging from one-bedroom-plus-study to four-bedroom units measuring 743 sq ft to 2,906 sq ft.
The recent sale of the 1,819 sq ft unit marks the third resale transaction at Wilkie Studio this year. The first unit was sold for $1.65 million ($1,892 psf) on July 2, resulting in a gain of $310,000 for the seller who bought the unit in August 2017 for $1.34 million ($1,537 psf). On July 12, a 1,163 sq ft unit fetched $2.29 million ($1,969 psf), allowing the seller to make a profit of approximately $550,000 after acquiring the unit in June 2018 for $1.74 million ($1,496 psf).
Check out the latest listings for Four Seasons Park, The Trevose, and Wilkie Studio properties to see what other opportunities await you.