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Four-bedroom unit at Goldenhill Park rakes in $1.67 mil profit

/ EdgeProp Singapore |

January 13, 2022 5:30 AM SGT

SINGAPORE (EDGEPROP) - The sale of a 1,539 sq ft, four-bedroom unit at Goldenhill Park Condominium was the most profitable resale transaction recorded during the week of Dec 28, 2021, to Jan 4, 2022. The unit fetched $2.75 million ($1,787 psf) on Dec 29 last year. It had been purchased for $1.08 million ($703 psf) in May 2001. As a result, the seller earned a profit of $1.67 million (154%), which translates to an annual profit of 4.6% over nearly 21 years.

Read also: Clementi Park unit makes $1.88 mil profit

Another unit at this freehold development that was sold during the week also made it into the most profitable list as the third highest profitable resale deal. It involved the sale of a 1,335 sq ft, three-bedroom unit that changed hands for $2.43 million ($1,821 psf) when it was sold on Jan 3. The unit had been bought for $1.13 million ($843 psf) in May 2007. Thus, this seller raked in a profit of $1.31 million (116%), which translates to an annual profit of 5.4% over nearly 15 years.

Goldenhill Park Condominium - EDGEPROP SINGAPORE

A 1,539 sq ft, four-bedroom unit at Goldenhill Park Condominium fetched $2.75 million ($1,787 psf) on Dec 29 last year. (Picture: Samuel Isaac Chua/The Edge Singapore)

A new record resale profit was achieved at Goldenhill Park Condominium last year when a 2,928 sq ft, three-bedroom penthouse unit on the 20th floor was sold for $4.02 million ($1,373 psf) on April 26. The seller had bought the unit for $1.96 million ($669 psf) in June 2001. Thus, he earned a record profit of $2.06 million (105%), which translates to an annual profit of 3.7% over 20 years.

The sale of a 2,820 sq ft, four-bedroom unit at Elliot at the East Coast was the second most profitable transaction during the week. The unit was sold for $4 million ($1,426 psf) on Jan 3, after it had been purchased for $2.44 million ($867 psf) in May 2010. Thus, the seller raked in a profit of $1.58 million (66%), which is an annual profit of 4.2% over nearly 12 years.

This also makes it the most profitable resale transaction at the freehold condo so far, leaping over the previous record set by the sale of a 2,347 sq ft, three-bedroom unit at $3.15 million ($1,342 psf). That unit had previously fetched $2.07 million ($883 psf) in February 2010. Thus, the seller made a profit of $1.08 million (52%), which is an annual profit of 3% over 11 years.

On the other hand, the most unprofitable deal involved a 1,367 sq ft, two-bedroom unit at Miro that changed hands for $2 million ($1,464 psf) on Jan 3. The unit was purchased for $2.25 million ($1,644 psf) in October 2009. As a result, the seller saw a loss of about $246,000 (11%), which is an annual loss of about 1% over 12 years.

The sale of a 1,367 sq ft, two-bedroom unit at Miro on Jan 3 resulted in a loss of about $246,000 for the seller. (Picture: The Edge Singapore)

There were also two resale transactions at Miro in 2021 that resulted in a loss. One involved a 1,324 sq ft, two-bedder that was sold for $1.9 million ($1,435 psf) on October 2022, after it had been bought for $2.8 million ($2,115 psf) in December 2012. Thus, the seller made a loss of $900,320 (30%), which translates to an annual loss of 4% over close to nine years.

The other unprofitable transaction was for a 1,421 sq ft, two-bedroom unit that fetched $2.1 million ($1,478 psf) on May 10 last year. The unit had been purchased for $2.33 million ($1,642 psf) in January 2010. Thus, the seller lost $235,886 (9%), which translates to an annual loss of 0.9% over around 11 years.

Check out the latest listings near Goldenhill Park Condominium, Elliot at the East Coast, Miro

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