Four-bedder at Four Seasons Park sold for $3.8 mil profit
/ EdgeProp Singapore |
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The sale of a four-bedroom unit at Four Seasons Park was the most profitable condo resale transaction during the week of Aug 20 to 27. The 2,260 sq ft unit on the 20th floor changed hands for $7.8 million ($3,451 psf) on Aug 26. The seller, who bought the unit in September 2020 for $4 million ($1,770 psf), netted a gain of $3.8 million after owning the unit for about four years. This reflects a capital gain of 95% for the seller or an annualised profit of 23.8%.
The unit sold is the first resale transaction at Four Seasons Park this year. It is also the most profitable deal the condo has seen in the past two years, though it remains well below the top gain ever logged at the development. The most profitable resale deal at Four Seasons Park was the sale of a penthouse measuring 6,157 sq ft for $17.88 million ($2,904 psf) in December 2019. The seller, who bought the unit for $9 million ($1,462 psf) in June 2002, reaped a profit of $8.88 million on the transaction.
The 2,260 sq ft unit at Four Seasons Park changed hands for $7.8 million ($3,451 psf) on Aug 26 (Picture: The Edge Singapore)
Four Seasons Park is a freehold condo located on Cuscaden Walk, near the Orchard Road shopping belt in District 10. Completed in 1994, the freehold development has 202 units with sizes between 2,153 sq ft and 7,772 sq ft. It is about a five-minute walk to Ion Orchard and the Orchard Interchange Station on the North-South and Thomson-East Coast Lines.
The sale of a four-bedder at The Trevose was the second-most profitable resale deal during the week. The 1,894 sq ft unit on the third floor sold for $3.36 million ($1,774 psf) on Aug 22. The seller purchased the unit for $1.34 million ($707 psf) in June 2002, scoring a profit of $2.02 million (151%) after holding the unit for about 22 years.
It is the fourth most profitable deal at The Trevose so far. The record belongs to a duplex penthouse measuring 3,358 sq ft that fetched $3.65 million ($1,087 psf) in September 2007. The unit had previously changed hands for $1.5 million ($448 psf) in June 2006. This means the seller netted a profit of $2.15 million on the deal.
A 1,894 sq ft unit at The Trevose fetched $3.36 million ($1,774 psf) on Aug 22, netting a gain of $2.02 million (Picture: The Edge Singapore)
The Trevose is a condo on Trevose Crescent, off Dunearn Road and Whitley Road in District 11. The 99-year leasehold development was built in 2001 and comprises three low-rise blocks with 142 residences. Units are a mix of two-, three- and four-bedders ranging from 958 sq ft to 3,627 sq ft. The condo is a 10-minute walk from Stevens MRT Interchange Station on the Downtown and Thomson-East Coast Lines.
Meanwhile, the most unprofitable condo resale transaction during the week was the sale of a unit at Wilkie Studio. A duplex penthouse spanning 1,819 sq ft was sold for $2.81 million ($1,544 psf) on Aug 23. The seller had acquired the unit from the developer in February 2008 for $3.04 million ($1,670 psf). They incurred a loss of about $230,000 (7.5%) after owning the unit for 16½ years.
The sale of a 1,819 sq ft penthouse at Wilkie Studio for $2.81 million ($1,544 psf) on Aug 23 incurred a loss of about $230,000 (Picture: Google Maps)
Located on Wilkie Road, Wilkie Studio is a boutique apartment that was completed in 2010. The freehold development has 40 units across a single four-storey block. Residences range from one-bedroom-plus-study to four-bedroom units with 743 sq ft to 2,906 sq ft.
The unit sold on Aug 23 is the third resale transaction at Wilkie Studio this year. The first unit to change hands was an 872 sq ft apartment that sold for $1.65 million ($1,892 psf) on July 2. The seller, who bought the unit in August 2017 for $1.34 million ($1,537 psf), netted a gain of $310,000.
On July 12, a 1,163 sq ft unit fetched $2.29 million ($1,969 psf). The seller, who acquired the unit in June 2018 for $1.74 million ($1,496 psf), made a profit of about $550,000.
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