SINGAPORE (EDGEPROP) - The sale of a 3,348 sq ft, four-bedroom unit at The Claymore was the most profitable resale transaction during the week of March 29 to April 5. The 26th-floor apartment was sold for $11.18 million ($3,342 psf) on March 31. It had been bought for $5.97 million ($1,785 psf) in July 1995. Thus, the seller earned a profit of $5.2 million (87%), which translates to an annualised profit of 2.4% over almost 27 years.

See also: Unit at Yong An Park reaps $8.7 mil profit

This makes it the third most profitable resale transaction at The Claymore to date. The record is still held by the sale of a 4,919 sq ft unit on the 25th floor for $17 million ($3,456 psf) in April 2020. That unit previously fetched $7.99 million ($1,626 psf) in March 2002. As a result, the seller earned a record profit of $9 million (112%), which translates to an annualised profit of 4.2% over 18 years.

The Claymore is a freehold condominium that was completed in 1985. It has three- to five-bedroom units of 2,680 to 4,919 sq ft. The 146-unit development is along Claymore Road in prime District 9. It faces the American Club and is beside the Royal Thai Embassy. Other luxury residential developments in the vicinity include Sculptura Ardmore, Ardmore Park, and Le Nouvel Ardmore.

The second most profitable resale transaction during the week occurred at Yong An Park, a 288-unit freehold development on River Valley Road. A 1,959 sq ft, three-bedroom unit on the third floor was sold for $4.2 million ($2,144 psf) on April 5. The unit had been bought for $1.44 million ($735 psf) in October 1999. Thus, the seller earned a profit of $2.76 million (192%), which translates to an annualised profit of 4.9% over 22½ years.

This is the second resale transaction recorded at Yong An Park this year. On Jan 20, a 3,229 sq ft, four-bedroom unit on the 20th floor changed hands for $7 million ($2,168 psf). The unit had been purchased for $5.79 million ($1,796 psf) in November 1995. The seller earned a $1.2 million profit (20%), which translates to an annualised profit of 2% over 27 years.

Yong An Park was completed in 1986 and comprises two- to five-bedroom units of 1,022 to 8,331 sq ft. It is beside the future Great World MRT Station on the Thomson-East Coast Line. New and upcoming luxury condominiums in the area include Martin Modern, The Avenir, 8 St Thomas, and Riviere.

On the other hand, the most unprofitable resale transaction during the week was the sale of a 2,852 sq ft, four-bedroom unit at The Orchard Residences. The 44th-floor apartment was sold for $10.25 million ($3,593 psf) on April 1. It was purchased for $11.69 million ($4,099 psf) in August 2010. Thus, the seller suffered a $1.44 million loss (12%), which translates to an annualised loss of 1.1% over 11½ years.

The Orchard Residences is a 175-unit, luxury development that makes up the residential component of Ion Orchard, which also includes the upscale Ion Orchard shopping mall linked to Orchard MRT Station. Developed by CapitaLand and Hong Kong developer Sun Hung Kai Properties, the entire project was completed in 2010.

According to URA caveats, The Orchard Residences has seen a streak of unprofitable transactions over the past two years. There were at least seven resale transactions during this period, and six resulted in unprofitable transactions. Losses ranged from $20,000 to $3.32 million.

This $3.32 million loss involved the sale of a 2,852 sq ft, four-bedroom unit on the 47th floor for $9.67 million ($3,394 psf) in July 2020. The unit had been purchased for $12.99 million ($4,557 psf) in October 2007. Hence, the seller suffered a $3.32 million loss (25%), which is also an annualised loss of 2.2% over 12 years.

Check out the latest listings near The Claymore, Yong An Park, The Orchard Residences, Sculptura Ardmore, Ardmore Park, Le Nouvel Ardmore, Martin Modern, The Avenir, 8 St Thomas, Great World MRT Station, Orchard MRT Station