Three-bedder at Botanic Gardens View sold for $3.3 mil profit
/ EdgeProp Singapore |
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The sale of a three-bedroom unit at Botanic Gardens View was the most profitable condo resale transaction during the week of Sept 3 to Sept 10. The 1,755 sq ft unit on the sixth floor changed hands for $4.13 million ($2,353 psf) on Sept 9. The seller, who bought the unit for about $862,000 ($491 psf) in July 1998, netted a gain of $3.27 million on the deal. This reflects a capital gain of 379% for the seller, who had owned the unit for roughly 26 years.
The transaction marks the most profitable resale deal ever recorded at Botanic Gardens View. It beats the previous top gain of $3.14 million from the sale of a 1,615 sq ft unit for $4.07 million ($2,521 psf) in August 2019. The seller had acquired the unit in September 2001 for about $930,000 ($576 psf).
The 1,755 sq ft unit at Botanic Gardens View changed hands for $4.13 million ($2,353 psf) on Sept 9 (Picture: Samuel Isaac Chua/The Edge Singapore)
Botanic Gardens View is a freehold condo at Taman Serasi, off Cluny Road in prime District 10. Built in 1970, the condo has 144 residencies across four blocks. Units consist of two- and three-bedders between 1,259 sq ft and 1,755 sq ft. The condo is located just opposite the Singapore Botanic Gardens.
The unit sold on Sept 9 is the second resale transaction logged to date this year at the condo. Before this, a 1,755 sq ft unit on the fourth floor fetched $3.83 million ($2,183 psf) on April 3. It had last changed hands in July 2007 for $2.6 million ($1,482 psf). This means the seller made a $1.23 million gain on the sale.
The second most profitable resale transaction during the week was the sale of a 2,250 sq ft, three-bedroom unit at Regency Park. The second-floor unit fetched $5.13 million ($2,278 psf) on Sept 5. The seller had purchased the unit in July 2002 for $1.89 million ($839 psf). As a result, the seller reaped a profit of $3.24 million (172%) after holding the unit for slightly over 22 years.
The transaction comes less than a month after the last resale deal at the condo on Aug 14, when a 3,649 sq ft unit changed hands for $7.84 million ($2,149 psf). The seller, who bought the unit in February 2001 for $2.95 million ($808 psf), reaped a profit of $4.89 million. This reflects a capital gain of 166% for the seller, who owned the unit for 23½ years.
A 2,250 sq ft unit at Regency Park fetched $5.13 million ($2,278 psf) on Sept 5, netting a gain of $3.24 million (Picture: The Edge Singapore)
Regency Park is a freehold condo along Nathan Road, off Grange Road and River Valley Road, in prime District 10. Completed in 1987, it has eight 25-storey residential blocks. The development comprises 292 apartments, including three-bedroom units from 2,250 sq ft and four-bedroom units from 3,649 sq ft. The condo is located near the Bishopsgate-Chatsworth Good Class Bungalow enclave. It is less than a five-minute drive to the Great World City shopping mall on Kim Seng Promenade and the Orchard Road shopping belt.
Meanwhile, the most unprofitable condo resale deal took place at The Scotts Tower. A one-bedroom unit measuring 667 sq ft on the seventh floor sold for $1.3 million ($1,948 psf) on Sept 3. The seller had bought the unit from the developer in December 2011 for $2.22 million ($3,321 psf). As such, the seller incurred a loss of around $916,400 (41%) after owning the unit for almost 13 years.
The sale of a 667 sq ft unit at The Scotts Tower for $1.3 million ($1,948 psf) on Sept 3 incurred a loss of around $916,400 (Picture: Samuel Isaac Chua/The Edge Singapore)
Located along Scotts Road in District 9, The Scotts Tower is a 231-unit condo that was completed in 2016. The 103-year leasehold development comprises a single tower spanning 31 storeys. Units include one- to three-bedroom apartments ranging from 624 sq ft to 904 sq ft. There are also four-bedroom penthouses of 1,227 sq ft to 1,389 sq ft.
Only one other unit at The Scotts Tower has changed hands to date this year: a 657 sq ft one-bedder on the 12th floor that fetched $1.3 million ($1,980 psf) on April 24. The seller had purchased the unit from the developer in January 2013 for $2.69 million ($4,092 psf). As a result, they made a loss of $1.39 million on the deal.
Check out the latest listings for Regency Park, The Scotts Tower, Botanic Gardens View, Condominium properties
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