Gains and losses for the weeks of July 12 to 26 (Source: EdgeProp Singapore)
SINGAPORE (EDGEPROP) - Large four-bedroom apartments and penthouses in the prime districts dominated the leaderboard in the most profitable and unprofitable deals over the two-week period from July 12 to 26. The transaction that marked the biggest price gain was for the biggest unit at Top Ten, an 11-unit, six-storey, freehold apartment block at Emerald Hill Road, built in 1978.
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The biggest capital gain was seen when a four-bedroom apartment at Top Ten, an apartment block at Emerald Hill Road changed hands for $5.2 million, at $3.43 million above the original purchase price 23 years earlier (Credit: Google Map)
The 3,143 sq ft, four-bedroom penthouse at Top Ten changed hands for $5.19 million ($1,650 psf), according to a caveat on July 19. The unit was previously purchased for $1.75 million ($557 psf) in August 1999. It translates to a capital gain of $3.44 million or 196% after a 23-year holding period.
The Top Ten apartment block is located at 134 Emerald Hill Road, amid the conservation shophouses on Emerald Hill Road, just off Orchard Road on one side and Cairnhill Road on another. The project is located within prime District 9.
The second-most profitable deal for July 12 to 26 was located at The Shelford. The transaction was for a 2,174 sq ft, four-bedroom penthouse on the top floor of one of the development’s five-storey blocks. The unit was purchased 13 years ago for $1.93 million ($888 psf), and recently changed hands for $4.15 million ($1,909 psf). For the seller, it translates to a gain of $2.22 million.
The 215-unit, freehold condominium, situated on Shelford Road in prime District 11, was developed by CapitaLand and completed in 2005. The project is popular with families with school-going children, given its proximity to schools such as Anglo-Chinese School (Junior), St Margaret’s Secondary School, Anglo-Chinese School (Primary) and Raffles Girls’ Primary School.
A 7,503 sq ft, penthouse at The Arcadia became the most unprofitable transaction for Jul 12-26, when it was sold for $7.7 million, $2.3 million lower than its $10 million purchase price 12 years ago (Source: Samuel Isaac Chua/ The Edge Singapore)
Meanwhile, the most unprofitable transaction was for a 7,503 sq ft, five-bedroom penthouse at The Arcadia. The penthouse recently changed hands for $7.7 million ($1,026 psf), based on a caveat lodged on July 14. The unit was purchased in August 2010 for $10 million ($1,333 psf), which translates to a $2.3 million loss over a 12-year holding period.
The Arcadia is a 10-storey condominium project with just 164 units. Three-bedroom units are sized from 3,466 to 3,735 sq ft, while four-bedroom units are sized from 3,714 to 4,672 sq ft. Meanwhile, penthouses are 7,503 sq ft, five-bedroom simplexes. The 99-year leasehold condo has a lease from 1979, with the project completed in 1983.
The project is located on Arcadia Road, off Adam Road in prime District 11.
Meanwhile, the second most unprofitable deal took place at the 70-unit, freehold CityVista Residences. Located at Peck Hay Road, just off Clemenceau Avenue in prime District 9, the 20-storey condominium block was completed in 2010.
The most recent transaction was for a 2,626 sq ft, four-bedroom unit on the 12th floor that was sold for $4.95 million ($1,885 psf) on July 19. The unit was last purchased for $6.83 million ($2,600 psf) at the peak of the last property boom in 2007. Hence, the seller saw the price for the unit marked down by $1.88 million.
Check out the latest listings near Top Ten, The Shelford, The Arcadia, CityVista Residences, Anglo-Chinese School (Junior), St Margaret’s Secondary School, Anglo-Chinese School (Primary), Raffles Girls’ Primary School