Resale four-bedder at The Arcadia records $3.25 mil profit
By Timothy Tay
/ EdgeProp Singapore |
The sale of the 3,767 sq ft unit at The Arcadia made the seller $3.25 million in profit.
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The sale of a 3,767 sq ft unit at The Arcadia was the most profitable resale transaction to take place from Dec 10 to Dec 31.
The owner of the four-bedroom unit on the seventh floor celebrated the new year after pocketing a handsome profit of $3.25 million (217%) when the property was sold for $4.75 million ($1,261 psf) on Dec 10. According to caveats, the unit had been purchased for $1.5 million ($398 psf) in 1998. Thus, the resale generated an annualised profit of 4.5% over 26 years.
Last year, The Arcadia saw five units, ranging from 3,714 sq ft to 3,821 sq ft, change hands for profits ranging from $60,000 to $3.25 million. The sale of a 3,778 sq ft unit on the fourth floor fetched $4.6 million ($1,218 psf) when it was sold on Oct 10 last year, providing the seller with a $60,000 profit.
The transaction that holds the record profit at The Arcadia was a 7,503 sq ft penthouse on the 10th floor that changed hands for $10 million ($1,333 psf) in 2010. The penthouse was bought for $5.5 million ($733 psf) in 2007. Thus, the seller raked in a profit of $4.5 million (81%), which translates to an annualised profit of about 19% over three years.
The sale of the 3,767 sq ft unit at The Arcadia made the seller $3.25 million in profit. (Picture: Samuel Isaac Chua/The Edge Singapore)
The Arcadia is a 99-year leasehold condo along Arcadia Road in prime District 11. The 164-unit development was completed in 1983 and has about 54 years remaining on its land tenure. The property is surrounded by landed estates and Good Class Bungalows, as well as top schools such as Raffles Girls Primary School, Hwa Chong Institution and National Junior College.
Meanwhile, the second most profitable resale in the last three weeks of 2024 was that of a 2,077 sq ft unit at Tanglin Hill Meadows on Dec 10. The three-bedder fetched $4.5 million ($2,166 psf) after it was purchased for $1.8 million ($866 psf) in 1999. As a result, the seller walked away with a $2.7 million (150%) profit, which translates to an annualised gain of 3.6% over 26 years.
This also makes it the most profitable transaction to date at Tanglin Hill Meadows, usurping the previous record of $2.28 million (157%) when a 2,002 sq ft unit was sold for $3.73 million ($1,863 psf) back in 2010. This unit was bought for $1.45 million ($724 psf) in 2005, and its resale yielded an annualised profit of some 21% over five years.
A 2,077 sq ft unit at Tanglin Hill Meadows changed hands for $4.5 million ($2,166 psf) on Dec 10 last year. (Picture: Samuel Isaac Chua/The Edge Singapore)
Tanglin Hill Meadows is a freehold condo along Tanglin Hill in prime District 10. The 20-unit development was completed in 1997 and is nestled within the Ridley Park Good Class Bungalow Area.
On the other hand, losses continue to mount at Seascape, a 99-year leasehold condo in Sentosa Cove, where the seller of a 2,174 sq ft unit on the seventh floor incurred a loss of $1.97 million (33%) when the unit was sold on Dec 18. The three-bedroom unit changed hands for $3.98 million ($1,830 psf) after it had been bought for $5.95 million ($2,736 psf) in 2011. Thus, the seller incurred an annualised loss of 2.5% over 13 years.
Read also: Unit at Island View sold for $3.5 mil profit
This sale marks the third resale transaction at Seascape last year, all of which recorded losses ranging from $1.75 million to $2.53 million. The transaction that resulted in the $2.53 million loss was also the second-largest loss-incurring resale transaction for 2024. That sale involved a 2,680 sq ft unit that fetched $4.5 million ($1,679 psf) when it was sold on Aug 14, 2024.
The seller of a 2,174 sq ft unit at Seascape incurred a loss of $1.97 million (33%) when the unit was sold on Dec 18. (Picture: Samuel Isaac Chua/The Edge Singapore)
Completed in 2012, the 151 units at Seascape front the South China Sea. The eight-storey development has three-bedroom and four-bedroom units of 2,164 sq ft to 4,069 sq ft. Penthouses are from 3,380 to 4,252 sq ft, while sky villas are from 6.631 to 9,666 sq ft.
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