Unit at Valley Park reaps $3.2 mil profit
By Charlene Chin
SINGAPORE (EDGEPROP) - The seller of a unit at Valley Park, on River Valley Road, made the top gain of $3.2 million over the week of Feb 1 to 8. The 3,940 sq ft unit on the 20th floor was bought for $3.8 million ($965 psf) in April 2000 and sold for $7 million ($1,777 psf) on Feb 8. The seller therefore made an 84% profit, or an annualised profit of 3% over almost 22 years.
Located in District 10, Valley Park was completed in 1997 and comprises 728 units on a 999-year leasehold. It is an 11-minute walk to the upcoming Great World MRT Station on the Thomson-East Coast Line.
Valley Park (Credit: The Edge Singapore)
The second top gain made over the week — a 131% profit of $2.55 million — was at Jaya Tower, on Bukit Timah Road. The 2,142 sq ft unit on the 15th floor was purchased for $1.95 million ($910 psf) in June 2009 and sold for $4.5 million ($2,101 psf) on Feb 4. This means that the seller made an annualised profit of 7% over almost 13 years.
Jaya Tower, in District 10, comprises 28 freehold units and was completed in 1979. It is a seven-minute walk to Stevens MRT Station on the Downtown Line.
A unit sold at Goldenhill Park Condominium, along Mei Hwan Drive in District 20, made the third largest gain over the week, netting a 115% profit of $2.3 million for the seller. The 2,928 sq ft unit on the 20th floor was bought in April 2001 for $2 million ($683 psf), and sold for $4.3 million ($1,469 psf) on Feb 7. The seller therefore made an annualised profit of 4% over almost 21 years.
Goldenhill Park Condominium comprises 390 freehold units and was completed in 2004. It is a 10-minute walk to Lorong Chuan MRT Station on the Circle Line.
Cityvista Residences (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 2,121 sq ft unit at Cityvista Residences in District 9. Having sold the property for $4.19 million ($1,975 psf), the seller suffered an 18% loss of about $894,000. The unit was purchased in July 2007 for $5.08 million ($2,397 psf). Over a holding period of almost 15 years, this translates into an annualised loss of 1%.
Cityvista Residences, on Peck Hay Road, comprises 70 freehold units and was completed in 2010. It is a 12-minute drive to Lorong Chuan MRT Station on the Circle Line.
Check out the latest listings near Valley Park, Jaya Tower, Goldenhill Park Condominium, Cityvista Residences, Great World MRT Station, Stevens MRT Station, Lorong Chuan MRT Station
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