Five-bedder in Cuscaden Walk sold for $9.5 mil profitIs it a good buy?: A 1,389 sq ft unit at Costa Del Sol boasts sea views and is listed for $1.47 milIs it a good buy?: A 3-bedder in Sixth Avenue Ville fetched $3.95 mil in a resaleIs it a good buy?: A freehold Black and White colonial bungalow on Holland Road with potential for A&A is on the market for $18 mil
The most profitable condo resale deal of the week in Singapore was a four-bedroom unit measuring 2,885 sq ft at Ardmore Park, which was sold for $11.25 million ($3,900 psf) on November 22. The seller had purchased the unit in September 2016 for $8.2 million ($2,843 psf), earning a profit of $3.05 million, or a capital gain of 37% over a holding period of about eight years.
This transaction follows another profitable sale of a 2,885 sq ft four-bedroom unit on the 23rd floor for $12.7 million ($4,402 psf) on October 1, just two months earlier. The seller of this unit had bought it in September 2010 for $9.7 million ($3,363 psf), earning a profit of $3 million, or a capital gain of 30.9%. This brings the total number of profitable condo resale transactions in Ardmore Park this year to six, with prices ranging from $4,108 psf to $4,472 psf.
Ardmore Park is a 330-unit freehold condo located in the prestigious Ardmore Park area in prime District 10. Completed in 2001, the luxury condo boasts three 30-storey towers and offers typical units of 2,885 sq ft, four-bedroom apartments, as well as six 8,740 sq ft duplex penthouses.
The second most profitable condo resale deal during the same week was the sale of a four-bedroom apartment at Goldenhill Park Condominium for $3.43 million ($2,228 psf). The seller, who had bought the unit from the developer in May 2001 for $1.14 million ($741 psf), made a gain of $2.29 million, or 201% over a holding period of 23½ years. This unit also had the second-highest gain recorded in the development, with the highest being a four-bedroom penthouse that was sold for $4.3 million ($1,469 psf) in February 2022.
Goldenhill Park Condominium is a freehold development situated on Mei Hwan Drive, off Ang Mo Kio Avenue 1 in District 20. Completed in 2004, the condo comprises 390 units of two- to four-bedroom apartments ranging between 926 sq ft and 2,928 sq ft. It is conveniently located close to the Lorong Chuan MRT Station on the Circle Line. So far this year, there have been six profitable condo resale transactions in the development, with prices ranging from $2,082 psf to $2,246 psf.
On the other hand, the most unprofitable condo resale deal of the week was the sale of a four-bedroom unit at The Oceanfront @ Sentosa Cove for $4.7 million ($1,660 psf) on November 20. The seller had bought the 2,831 sq ft unit in May 2007 for $5.8 million ($2,050 psf), resulting in a loss of $1.1 million or 19% after holding it for 17½ years.
The Oceanfront @ Sentosa Cove is a 99-year leasehold condo located in the luxurious Sentosa Cove residential enclave. Completed in 2010, the waterfront development boasts 264 units housed in five towers between 12 and 15 storeys high. Residences range from two-, three- and four-bedroom apartments spanning 1,216 sq ft to 4,284 sq ft, as well as penthouses measuring 2,745 sq ft to 8,095 sq ft.
Investing in a condo in Singapore is increasingly becoming a preferred option for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and top-notch quality of life. The real estate market in Singapore boasts a plethora of opportunities, and condos are particularly attractive for their convenience, amenities, and potential for high returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore.
There have been six other resale transactions in this development so far this year, selling for prices ranging from $1,500 psf to $1,999 psf. Four of these deals resulted in losses for the sellers, while two were profitable, earning gains of $268,000 and $1.7 million, respectively.