Read related post: Leedon Residence’s double penthouse generates a $2.8 million profit
The three-bedroom unit in Sheares Ville Freehold Condo located at Holt Road, just off Jervois Road in District 10 which was the most profitable condo resale deal recorded in the period from March 28 through April 4. The 2,626 sq ft apartment located on the first floor was sold for $3.56 million ($1,355 per square foot) as of March 30 in accordance with caveats that were filed. The unit was bought through the sale in the month of September, 2004 by developer developer at $1.55 million ($590 per square foot). The seller made an income of $2.01 million, or 130% over a time period that lasted 18.1/2 years.
This is the first deal that took place within Sheares Ville this year and the second-highest-profitable transaction at the development. The most profitable deal was in April 2012 when a 4,704 square foot penthouse was sold to a buyer for $5.4 million ($1,148 per square foot). The seller earned a profit of $2.7 million from the property that they bought at $2.7 million ($574 per square foot) in July 2005.
Sheares Ville, a 65 unit condominium which was completed in 2003. The 12-story building’s units consist of a mixture of four- and three-bedders with a range of 1,399 to 2,626 sq feet. Three penthouses are also available that range from 4,392 to 4,768 square feet. The development is located on Holt Road, the development is located next to the Malaysian High Commission and the exclusive Jervois Road neighbourhood.
The second highest-profitable condo resale deal during the time period under review is the sale of an 1,668 square feet unit in Kensington Park Condominium. The 3rd of April, the 9th floor unit sold to the buyer for $2.7 million ($1,618 per square foot) which earned the seller an income that was $1.77 million. The unit was purchased for $935,000 ($560 per square foot) at the end of October in 1999. This means they earned an of 189% return over the course of 23 1/2 years.
The sale marks a new PSFprice record for Kensington Park, beating the previous record of $1,448 recorded in January 2022 where a 1,658 square feet unit was purchased to a buyer for $2.4 million. It is also the first recorded transaction at the condo since January 2022 sale.
Kensington Park is a 999-year leasehold development that is located at Kensington Park Drive, off Serangoon North Avenue 1. The condominium, which was constructed in 1990, sits on a vast 491,000 square feet site. The condo has 314 units in three blocks of high-rises and three blocks with low-rises.
The month of February saw Kensington Park was launched for a collective sale of $1.28 billion The tender was scheduled to close on February 22. It is now the 3rd attempt to sell the condo owned by the owners following the initial attempt in 2018that was abandoned after the sale committee failed to secure the required 80% required consent of the owners. The condo was put up for sale in May of 2022. condominium was listed for block sale with the same estimate which was $1.28 billion.
The most profitable transaction that was recorded during the time to be reviewed was that of the purchase and sale single-bedroom apartment in Marina Bay Residences. The 710 sq ft apartment on the 41st floor sold for $1.51 million ($2,125 per square foot) on March 30. The owner purchased the property in February of 2018 in February 2018 for $1.6 million ($2,252 per square foot) They had a loss of $90,000. (5.6%) across a period of five years.
It is third time that a transaction has been that has been recorded by Marina Bay Residences to date this year. The two previous transactions were also completed under the purchase price. On the 3rd of January the 743 square foot unit on the 31st floor auctioned off at $1.5 million ($2,020 per square foot) The seller losing $120,000. On the 16th of January one,981 square feet unit on the 14th floor went under at $5.23 million ($2,641 per sq ft). The seller suffered an expense of $118,700 from the deal.
In District 1, Marina Bay Residences is a project by Keppel Land, Hongkong Land and Cheung Kong Holdings which was completed in the year 2010. The 99-year leasehold property comprises 428 units. They range from one to four-bedroom units of 710 sq ft to 2,379 sq. There are also penthouse units ranging from 3,606 to 4,672 sq feet, and an apartment with a triplex of 11,011 square feet, which includes a roof terrace as well as a private pool.