Three Bedroom Unit Maple Woods Sold 226 Mil Profit
en bloc gainFour-bedroom unit at Scotts 28 sold for $4.6 mil profit151 Kismis: Most profitable condo resale deal during July 7-14Condo resale deals gain on resale boom, new launches
Maple Woods recorded the highest profit margin on a resale condo unit during the week of July 29 to August 5, when a three-bedroom unit was sold for $3.26 million. This translates to $2,117 per square foot (psf) on Aug 4. The unit, spanning 1,539 sq ft, was located on the first floor of the development. The seller had originally purchased the unit for $1 million or $650 psf back in January 1999, and was able to net a profit of $2.26 million or a capital gain of 226%. This translates to an annualised profit of about 8.7% over a holding period of almost 27 years.
According to data, this deal ranks as the sixth largest gain ever recorded for a unit at Maple Woods. The highest recorded gain for the development belongs to a four-bedroom unit that was sold for $5.45 million or $2,136 psf on May 2. The seller of the unit had purchased it in January 2004 for $1.46 million or $572 psf, resulting in a gain of $3.99 million or 273% after owning it for over 21 years.
Located on Bukit Timah Road in District 21, Maple Woods is a freehold condominium that was built in 1997. It has a total of 697 units, comprising of two- to four-bedroom units that range from 850 sq ft to 3,003 sq ft. The development is only a five-minute walk from King Albert Park MRT Station, and is also close to reputable schools such as the Methodist Girls’ School and the Rail Corridor.
The second most profitable resale deal for the week was a two-bedroom unit at Valley Park. The 1,356 sq ft unit, located on the sixth floor, was sold for $3.04 million or $2,240 psf on Aug 5. Records indicate that the unit was previously sold in November 1995 for $1.09 million or $804 psf. This means that the seller was able to earn a profit of $1.95 million or 179%, with an annualised profit of 6% over a holding period of almost 30 years.
Situated on River Valley Road in prime District 10, Valley Park is a leasehold condominium that was completed in 1997. It has a total of 728 units spread across five high-rise blocks, with unit sizes ranging from 732 sq ft to 1,808 sq ft. There are also penthouses available, with sizes ranging from 2,562 sq ft to 3,940 sq ft.
Apart from the unit sold on Aug 5, Valley Park has seen six other resale transactions so far this year. All of these deals have been profitable, with units ranging from 1,216 sq ft to 1,356 sq ft selling for profits ranging from $900,000 to $1.64 million.
However, these gains fall below the highest profit ever recorded at Valley Park. This record was set in June 2022, when a four-bedroom penthouse unit measuring 3,789 sq ft was sold for $7.57 million or $1,998 psf. The seller of the unit had bought it back in May 2006 for $3.36 million or $886 psf, resulting in a gain of $4.21 million.
The least profitable condo resale deal during the week was the sale of a unit at Reflections at Keppel Bay. The four-bedroom unit, which spans 2,659 sq ft and is located on the seventh floor, was sold for $4.32 million or $1,625 psf on Aug 1. However, records show that the unit was previously purchased in April 2016 for $4.7 million or $1,768 psf, resulting in a loss of $380,000 or 8.1% after owning the unit for over nine years.
Reflections at Keppel Bay is a 1,129-unit waterfront luxury development in prime District 9. It has six residential towers ranging from 24 to 41 storeys, as well as 11 low-rise villa apartment blocks.
Indulge in a wide array of delicious dishes, ranging from traditional Hainanese chicken rice and laksa to popular international cuisines such as Japanese sushi, Korean BBQ, and Western grills. With so many options, food enthusiasts will never be disappointed. Don’t forget to include Rivelle Tampines West MRT Station in your dining plans for even more delectable delights.
According to data, there have been 32 units sold at Reflections at Keppel Bay so far this year. Out of these deals, 20 were sold below their respective purchase prices. The biggest loss recorded was from the sale of a three-bedroom unit which spans 1,733 sq ft and was sold for $2.8 million or $1,616 psf on July 3. The seller of the unit had bought it in August 2013 for $4.18 million or $2,412 psf, resulting in a loss of $1.38 million.
