On June 30, the seller of a 2,885 sq ft unit at Ardmore Park raked in a $3.44 million profit. The unit, bought in July 1996 for $5.21 million ($1,807 psf), was sold for $8.65 million ($2,999 psf). The profit works out to 66%, or 2% a year over a holding period of 20.9 years.
Also on June 30, a unit of the same size at Ardmore Park changed hands at a $690,000 loss. This transaction marks the biggest loss at the development so far this year. The seller bought the unit for $9.99 million ($3,463 psf) in April 2011 and sold it for $9.3 million ($3,224 psf). The loss works out to 7%, or 1% annually over 6.2 years.
Ardmore Park has seen significant activity in 2017. According to URA caveat data, there have been seven profitable and two unprofitable transactions at the freehold condominium so far this year.
There have been seven profitable and two unprofitable transactions at Ardmore Park so far this year. Find the most affordable listing in the project here
The most profitable transaction was the sale of a 2,885 sq ft unit for $9.5 million ($3,293 psf) on Feb 9. The seller, who bought the unit for $4.9 million ($1,699 psf) in September 2002, reaped a profit of $4.6 million, which translates into a 93% profit. After a holding period of 14.4 years, the profit works out to 4% a year.
Over at D’Grove Villas, a seller incurred the biggest loss for the period between June 27 and July 4. The 2,702 sq ft unit was purchased in May 2011 for $5.65 million ($2,091 psf) but changed hands on June 29 for $4.52 million ($1,673 psf), at a loss of $1.13 million. This translates into a 20% loss, or 4% annually over a 6.2-year holding period.
The only other transaction at D’Grove Villas this year was a profitable one. On May 11, a unit of the same size was sold for $4.5 million ($1,666 psf). The transaction yielded a $1 million profit for the seller, who bought the unit at $3.5 million ($1,295 psf) in April 1997.
Within the same time frame (June 27 to July 4), a seller made a $500,000 loss on a unit he had held for just a year. A 2,443 sq ft unit at Aalto changed hands on June 28 for $3.5 million ($1,432 psf). It was bought in June 2016 at $4 million ($1,637 psf). The loss works out to 13%, or 12% a year. As the holding period was just one year, the seller was also liable for a 12%, or $420,000, Seller’s Stamp Duty. Including SSD, the seller suffered a $920,000, or 23%, loss.
Aalto, a freehold condominium near the upcoming Tanjong Katong MRT station, has seen five non-profitable and four profitable transactions so far this year. The highest loss of $1.2 million came from the sale of a 2,443 sq ft unit on April 3. The unit changed hands at $4.1 million ($1,678 psf). The seller bought the unit in November 2007 for $5.3 million ($2,183 psf).
On June 14, a 1,443 sq ft unit at Aalto was sold for the largest gain of $222,200 this year. The 1,443 sq ft unit was sold at $2.51 million ($1,740 psf). It was bought in September 2007 at $2.28 million ($1,586 psf).
D’Grove Villas is a 45-unit freehold development located along Orange Grove Road in District 10. Find the most affordable listing in the project here
This article appeared in The Edge Property Pullout, Issue 788 (July 17, 2017) of The Edge Singapore.