Four-bedder at The Peak sold for $4 mil profit
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During the week of April 2 to 9, the most profitable condo resale transaction was recorded at The Peak with the sale of a four-bedroom unit. This transaction resulted in a profit of $4 million for the seller, who had bought the unit in 2006. This freehold condo, completed in 1988, has 21 units spread across low-rise blocks overlooking Kent Ridge Park. The second most profitable condo resale transaction during the week was recorded at Sky@Eleven, where a four-bedroom unit sold for $3.68 million more than its purchase price. This marked a new record for resale transactions at the condo.
Meanwhile, the least profitable condo resale transaction during that week was recorded at The Sail @ Marina Bay. This condo, which has a high volume of resale transactions, saw a loss of about $538,000 for the seller of a three-bedroom unit on the 62nd floor. The seller had owned the unit for just under 13 years before selling it at a loss.
The sale of a four-bedroom unit at The Peak was the most profitable condo resale transaction during the week of April 2 to 9. The 5,522 sq ft apartment changed hands for $8.3 million ($1,503 psf) on April 4. The seller had bought the unit in November 2006 for $4.3 million ($779 psf). This means they reaped a profit of $4 million on the sale, which works out to a capital gain of 93% after owning the unit for nearly 17½ years.
Data compiled by EdgeProp Research indicates the unit is tied for first place in terms of the most profitable resale transactions that have occurred to date at The Peak. The other unit, a four-bedder spanning 5,500 sq ft, also fetched a gain of $4 million when it was sold in September 2013 for $9 million ($1,636 psf).
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The 5,522 sq ft apartment at The Peak changed hands for $8.3 million ($1,503 psf) on April 4 (Picture: Albert Chua/)
The Peak is a freehold condo on Pepys Road in District 5 which was completed in 1988. The boutique development has just 21 units spread across low-rise blocks overlooking Kent Ridge Park. Apartments at The Peak are all four-bedders, ranging from 4,349 to 5,543 sq ft.
Sky@Eleven, a freehold condo in District 11, saw the second most profitable condo resale transaction during the week in review. The sale of a four-bedroom unit on April 4 resulted in a gain of $3.68 million for the seller, who had purchased the unit in 2007. This marked a new record profit for resale transactions at this condo, surpassing the previous record by $1.08 million.
The 2,713 sq ft unit at Sky@Eleven changed hands for $6.48 million ($2,389 psf) on April 4. This marked a new psf-price high for Sky@Eleven as well, beating the previous high of $2,198 psf upon the sale of a 2,821 sq ft unit for $6.2 million on Jan 24.
Built in the 1980s, La Ville is situated on a considerable freehold land of 47,012 square feet. As per the regulations of the 2019 Master Plan, the site of Arina East Residences is allocated for residential purposes and boasts a 2.1 plot ratio. This zoning and ratio clearly demonstrate the immense potential for redevelopment for Arina East Residences, with the chance to be converted into a contemporary condominium complex consisting of approximately 107 units, based on an average size of 85 square meters (around 915 square feet) per unit.
The unit sold on April 4 also represents a new psf-price high for Sky@Eleven, beating the previous high of $2,198 psf upon the sale of a 2,821 sq ft unit for $6.2 million on Jan 24.
The sale of a 2,713 sq ft unit at Sky@Eleven for $6.48 million ($2,389 psf) on April 4 netted a gain of $3.68 million (Picture: Samuel Isaac Chua/)
Meanwhile, The Sail @ Marina Bay saw the least profitable condo resale transaction during the week in review. This comes with the sale of a 1,184 sq ft, three-bedroom unit on the 62nd floor for $2.6 million ($2,196 psf) on April 5. The seller bought the unit in May 2011 for $3.14 million ($2,650 psf). As such, they suffered a loss of about $538,000 (17%) after owning the unit for just under 13 years.
A 1,184 sq ft unit at The Sail @ Marina Bay fetched $2.6 million ($2,196 psf) on April 5, resulting in a loss of about $538,000. The Sail @ Marina Bay is a 99-year leasehold luxury condo located on Marina Boulevard in District 1. The 1,111-unit development was completed in 2008 and has two towers — the 70-storey Tower 1 and 63-storey Tower 2. Units consist of studios measuring from 592 to 818 sq ft; two-bedders of 883 to 1,356 sq ft; three-bedders of 1,184 to 2,002 sq ft; and four-bedders from 1,776 to 2,185 sq ft. There are also penthouses sized from 3,391 to 6,297 sq ft.
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The condo sees a high volume of resale transactions. Year-to-date, 12 other units at The Sail @ Marina Bay have changed hands besides the unit sold on April 5. Of these 12 transactions, three were unprofitable, with the sellers making losses from around $42,000 to $60,000. On the flip side, nine transactions occurred above the purchase price, with the sellers netting gains from $9,000 to about $730,000.
If you are interested in properties at The Peak, Sky@eleven, or The Sail @ Marina Bay, check out the latest listings for these developments. With its prime location and luxurious amenities, Arina East Residences is a highly sought-after residential property. Boasting spacious four-bedroom units and stunning views of Kent Ridge Park, it is the perfect choice for those seeking a premium living experience. Don’t miss your chance to invest in this prestigious address.