Clementi Park unit makes $1.88 mil profit

/ EdgeProp Singapore |
Ask Buddy
Condo projects with most unprofitable transactions
Condo projects with most profitable transactions
Compare price trend of HDB vs Condo vs Landed
Landed transactions with the highest profits in the past year
Compare price trend of New sale condo vs Resale condo
Condo projects with most unprofitable transactions
Condo projects with most profitable transactions
Compare price trend of HDB vs Condo vs Landed
Landed transactions with the highest profits in the past year
Compare price trend of New sale condo vs Resale condo
SINGAPORE (EDGEPROP) - The sale of a five-bedroom unit at Clementi Park, a 796-unit condo in District 21, was the most profitable transaction during the week of Sept 10 to 17. The 3,401 sq ft, ground-floor unit changed hands for $3.34 million ($983 psf) on Sept 12. It had been bought for $1.46 million ($429 psf) in 2001. Thus, the seller walked away with a profit of $1.88 million (129%), or an annualised profit of 5% over 18 years.
The sale of the 3,401 sq ft, five-bedroom unit at Clementi Park was the most profitable transaction during the week of Sept 10 to 17 (Picture: Albert Chua/EdgeProp Singapore)
Clementi Park is a freehold condo developed by City Developments Ltd, and was completed in 1986. Located at the end of Sunset Way, off Clementi Road, the condo borders the Pan-Island Expressway, Clementi Avenue 6, and a landed housing estate.
The second most profitable deal during the week in review occurred at Morimasa Gardens, a freehold 38-unit development on Gilstead Road in prime District 11. A 1,873 sq ft, three-bedroom unit there was sold on Sept 17 for $2.9 million ($1,548 psf), realising a gain of $1.84 million (174%) or an annualised profit of 7% over 14 years. The seller had purchased the unit in 2005 for $1.06 million ($566 psf).
Advertisement
Meanwhile, the most unprofitable resale transaction during the week occurred at Miro, a freehold condo on Lincoln Road. On Sept 17, a 1,249sq ft, two-bedroom unit there was sold for $1.82 million ($1,458 psf). The seller had purchased the unit for $2.4 million ($1,922 psf) in 2013, which means he recorded a loss of $580,000 (24%) on the sale, which translates into an annualised loss of 4% over 6½ years.
MIRO - A 1,249 sq ft, two-bedroom unit at Miro was sold at a loss of $580,000 on Sept 17
A 1,249 sq ft, two-bedroom unit at Miro was sold at a loss of $580,000 on Sept 17 (Picture: EdgeProp Singapore)
Elsewhere, the sale of an 861 sq ft, two-bedroom unit at the 99-year leasehold The Sail@Marina Bay recorded the second highest loss after it changed hands for $1.63 million ($1,891 psf) on Sept 11. The seller incurred a loss of $404,821 on the sale, as he had bought the unit for $2.03 million ($2,361 psf) in 2011.
For price trends, recent transactions, other project info, check out these projects' research page: Clementi Park, Morimasa Gardens, Miro, The Sail @ Marina Bay
Read also:
Ask Buddy
Condo projects with most unprofitable transactions
Condo projects with most profitable transactions
Compare price trend of HDB vs Condo vs Landed
Landed transactions with the highest profits in the past year
Compare price trend of New sale condo vs Resale condo
Condo projects with most unprofitable transactions
Condo projects with most profitable transactions
Compare price trend of HDB vs Condo vs Landed
Landed transactions with the highest profits in the past year
Compare price trend of New sale condo vs Resale condo

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More