Seller of Maple Woods unit reaps $2.63 mil profit
By Charlene Chin
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The top gain of $2.63 million during the week of Jan 19 to 26 was from the sale of a unit at Maple Woods. The 2,917 sq ft unit on the sixth floor was bought for $2.37 million ($812 psf) in October 2006 and sold for $5 million ($1,714 psf) on Jan 22. The seller therefore made a 111% profit, or an annualised profit of 5% over 14 years.
The seller of a unit at Maple Woods made a 111% profit (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located along Bukit Timah Road in District 21, Maple Woods is a freehold condominium that was developed by Wing Tai Holdings and completed in 1997. Comprising 697 units in a 10-storey building, it is a four-minute walk to King Albert Park MRT Station on the Downtown Line.
The second highest gain made over the week — a 213% profit of $1.48 million — was achieved at Park East, located along Jalan Tua Kong in District 15. The 1,690 sq ft unit on the fourth floor was purchased for $695,000 ($411 psf) in September 2003 and sold for $2.18 million ($1,287 psf) on Jan 21. This means that the seller made an annualised profit of 7% over 17 years.
Park East, which comprises 211 freehold units, was completed in 1994. It is a 15-minute walk to Bedok MRT Station on the East-West Line.
The third highest profit was achieved by a unit sold at Pandan Valley, which reaped a 92% profit of $1.44 million for the seller. The 2,669 sq ft unit on the seventh floor was bought in August 1997 for $1.56 million ($584 psf), and sold for $3 million ($1,124 psf) on Jan 26. The seller therefore made an annualised profit of 3% over 23½ years.
Pandan Valley, located off Ulu Pandan Road in District 21, comprises 623 freehold units. Completed in 1978, it is one of the oldest and largest developments in Singapore, sitting on a sprawling 865,127 sq ft site. It is a seven-minute walk to Dover MRT Station on the East-West Line.
The greatest loss incurred over the week in review was from the resale of a 2,530 sq ft unit at Orchard View in District 9 (Credit: Samuel Isaac Chua/ The Edge Singapore)
The greatest loss incurred over the week in review was from the resale of a 2,530 sq ft unit at Orchard View, which is located in Angullia Park. The unit was sold on Jan 21 for $6.25 million ($2,471 psf), having been bought previously in March 2011 for $8.47 million ($3,347 psf). The seller therefore suffered a 26% loss of $2.22 million. Over a holding period of almost 10 years, this translates into an annualised loss of 3%.
Completed in 2010, Orchard View is a freehold condominium located in District 9. It is a five-minute walk from Orchard MRT Station on the North-South Line, and nearby amenities include Forum The Shopping Mall and Shaw House, both located on Orchard Road.
Check out the latest listings near Maple Woods, Park East, Pandan Valley, Orchard View, Dover MRT Station
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