The three-bedroom unit at The Windsor sold for $2.7 million profit

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Read related article: Private house prices fell 0.2% year on year in 2Q2023, the first drop since 1Q2020

Private house prices fell 0.2% year on year in 2Q2023, the first drop since 1Q2020

The sale of a 3-bedroom house located at the Windsor proved to be the best-performing resales of condos in the week of August 15-22 in accordance with caveats filed with URA. The 2,454 square feet unit was sold in the amount of $3.41 million ($1,389 per sq ft) on August 16. The unit was purchased at $750,000 by the owner in August of 2005. ($306 per sq ft) and they made an income in the amount of $2.66 million. This is 355% for a time duration of just 18 years.

This is the highest-profit deal for resales that has occurred on the premises of The Windsor to date. It is higher than the previous record that was set in June of 2020, in which a 2,497 sq feet unit sold for $2.45 million ($981 per square foot). The seller purchased the property for $860,000 ($344 per square foot) on August 5, 2005. This means they earned $1.59 million.

Windsor Windsor is a freehold property situated on Onatorio Avenue, off Upper Thomson Road in District 20 which was finished in the year 1987. The Windsor is home to 159 residents, which includes nine townhouses with a total of 2,497 sq feet each, three-bedroom apartments that range between 936 and 1,797 sq feet, and maisonettes that range from 1,819 to 3,853 square feet each. Apart from the one that was that was sold on the 16th of August the Windsor has had one other resales transaction in The Windsor to date this year. In March the 2,013 square feet unit sold for $2.95 million ($1,466 per square foot).

The second-highest profiting condo resale deal during the week of analysis was the purchase of three bedrooms in an condo in Melrose Park. The 1,292 sq ft apartment on the 8th floor was purchased at $3.3 million ($2,555 per square foot) on August 18. The seller bought the property at the expense of developer at $1.206 million ($934 per square foot) at the beginning of February. They thereby made an increase of $2.094 million, or 174% during a time that lasted 24, 1/2 years.

This is the sixth-highest profitable resale deal recorded by Melrose Park, based on caveats that were lodged. The most profitable sale took place in September 2021 when a 5,231 square foot penthouse was purchased at $7.39 million ($1,412 per sq ft). The seller purchased it in the month of June by selling it to developer developer in June 1999 for $4.3 million ($822 per square foot) and had a profit of $3.089 million.

Melrose Park is an leasehold of 999 years property from CapitaLand situated at Kellock Road, off River Valley Road in District 10. The development of 170-units was completed in the year 2000. It is located in the River Valley residential enclave, situated across the street from the Great World City shopping center, which is connected by the Great World MRT Station on the Thomson East Coast Line. The development consists of two 19-storey blocks of residential units and the mix of units includes three-to-four-bedroom apartments with sizes ranging from 1,292 – 3,412 square feet. Each block has six penthouse units located on the 19th floor which are ranging from 3,606 – 5,231 square feet.

On the other hand the least profitable transaction of the week under review occurred in The Oceanfront @ Sentosa Cove. A three-bedder with 1,733 square feet was sold at $3.73 million ($1,731 per square foot) on August 15. The buyer purchased the vendor at $3.73 million ($2,152 per square foot) on July 7, 2007. This resulted in the loss of $730,000, which is 20% after having the property for a little more than 16 years.

The Oceanfront @ Sentosa Cove is a 99-year leasehold condo located in Sentosa Cove, a prestigious Sentosa Cove residential enclave. A joint venture between City Developments and TID (a joint venture that is a joint venture between Hong Leong Holdings and Mitsui Fudosan) The project was completed in the year. The waterfront condo comprises 5 floors of 264 homes, which are housed in towers that range from 12 to 15 storeys tall. The residences comprise three-, twofour-bedders ranging from 1,216 – 4,284 square feet. There are penthouses ranging from 2,745 to 8,095 square feet.

The change has seen a variety of transactions take place lower than the purchase price over the past year, due to caveats that were lodged. The data compiled by EdgeProp Research shows that The Oceanfront @ Sentosa Cove has registered 10 such transactions (including the one that occurred on August 15) from January 2022. The units, ranging between 1,480 and 1,731 square feet, suffered losses that ranged from $51,120 and $1.87 million. The least profitable resale deal reported in The Oceanfront @ Sentosa Cove was the sale of a 3,025 sq. ft unit in November of 2020 at $5.66 million ($1,871 per sq ft) and incurred the company a $2.205 $2.5 million profit.