Resale four-bedder at Astrid Meadows earns record $3.45 mil profit

/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The two most profitable deals recorded for the week of Aug 27 to Sept 3 were the sales of two 3,800 sq ft, four-bedroom units at the freehold Astrid Meadows on Coronation Road West in prime District 10.
The most profitable deal occurred on Aug 30, when a fifth-floor unit changed hands for $6.95 million ($1,829 psf). It had been bought for $3.5 million ($921 psf) in October 2005, which means the seller walked away with a $3.45 million profit (99%), or an annualised profit of 5% over a 14-year holding period.
This transaction is also the most profitable resale at the 208-unit development. Previously, the record was held by a 3,810 sq ft unit which earned a $3.2 million profit when it was sold for $6.5 million ($1,706 psf) in July 2012. The unit had been bought for $3.3 million ($866 psf) in 2005.
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ASTRID MEADOWS - Astrid Meadows is a low-rise, freehold condo in prime District 10 (Picture: Albert Chua/EdgeProp Singapore)
Astrid Meadows is a low-rise, freehold condo in prime District 10 (Picture: Albert Chua/EdgeProp Singapore)
The other 3,800 sq ft unit, on the third floor, fetched $6.4 million ($1,684 psf) when it was sold on Aug 28. The unit had been bought for $4.33 million ($1,140 psf) in 1997, which means a profit of $2.07 million (48%) or an annualised profit of 2% over a 22-year holding period.
Astrid Meadows is a low-rise condo that borders the Good Class Bungalow areas of Bin Tong Park, Leedon Park, Oei Tiong Ham Park, and Astrid Park. It is also close to the three-storey, mixed landed estate off Jalan Haji Alias and the two-storey, semi-detached estate on Namly Avenue. The 29-year-old development comprises studios, two- to four-bedroom units, and penthouses.
The sale of a four-bedroom unit at The Imperial in District 9 was the third most profitable of the week. The 2,077 sq ft unit was sold for $4.25 million ($2,046 psf) on Aug 30. It had been bought for $2.42 million ($1,164 psf) in August 2006. The seller walked away with a $1.8 million (76%) profit, or an annualised profit of 4% over a 13-year holding period.
So far this year, all the resale transactions at the freehold condo have been profitable, with profits ranging from $180,800 to $2.15 million across five transactions. The most profitable deal so far this year occurred when a 1,808 sq ft unit was sold for $3.77 million ($2,085 psf) in May and earned the seller a $2.15 million profit. The unit had been bought for $1.62 million ($896 psf) in 2003.
For price trends, recent transactions, other project info, check out these projects' research page: Astrid Meadows, The Imperial, The Sail @ Marina Bay
ASTRID MEADOWS
Meanwhile, the most unprofitable transaction during the week occurred at the city-facing Tower 2 of The Sail @ Marina Bay. A 614 sq ft unit was sold for $1.3 million ($2,119 psf) on Aug 29. It had been bought for $1.63 million ($2,652 psf) in 2011. This means the seller made a $327,100 loss, or an annualised loss of 3% over a holding period of about eight years.
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There have been 11 resale transactions at the 1,111-unit development so far this year, and four have been unprofitable, with losses ranging from $300,000 to $447,500. The most unprofitable deal so far this year was when an 883 sq ft unit in the Marina Bay-facing Tower 1 changed hands for $1.76 million ($1,994 psf) in April.
Check out the latest listings near Astrid Meadows, The Imperial, The Sail @ Marina Bay, MRT Stations and Schools
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Most unprofitable condo transactions in past 1 year
Condo projects with most expensive average PSF
Condo projects with most unprofitable transactions
Condo projects with most profitable transactions
Condo transactions with the highest profits in the past year
Most unprofitable condo transactions in past 1 year
Condo projects with most expensive average PSF
Condo projects with most unprofitable transactions
Condo projects with most profitable transactions
Condo transactions with the highest profits in the past year

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