Read related article: Jurong Lake Gardens to be sold to a master developer
The purchase of a 6,415 square foot penthouse in Regency Park, located on Nathan Road in prime District 10 it was the highest-profit transaction of the year according to caveats filed from Jan 1 to December 6. The property was sold at $14.1 million ($2,200 per square foot) on August 31. The buyer purchased the property for $5.5 million ($857 per square foot) at the end of April. The result was that they earned $8.61 millions (156.6%) on the deal, or an annualized gain in the range of 3.9% over nearly 24 1/2 years.
It’s the highest-profit deal recorded in Regency Park, beating the previous record set by the 3,649 square feet unit located on the 12th level. The unit was purchased at $2.85 million ($781 per square foot) at the end of July, 2003 was sold at $7.35 million ($2,014 per sq ft) in April of 2011. The seller thus made an amount that was $4.5 millions over the time of nearly eight years.
The leasehold Regency Park was completed in 1987. It is comprised of eight 25-story residential blocks that house 292 units. There are three bedroom apartments starting from 2,250 sq feet and four-bedroom units starting at 3,649 sq feet.
Another District 10 luxurious condominium, Ardmore Park, saw the second highest gain of the year. This follows the sale of a 2,885 square foot four-bedroom unit located on the sixth floor of the building for $12.5 million ($4,333 per square foot) on November 4. The unit was previously sold owners at $4.75 million ($1,647 per square foot) at the end of December. The seller earned an income in the amount of $7.75 millions (163.2%) over a almost 22-year tenure that equates to an annualized gain in the range of 4.5%.
Many transactions with substantial gains have been made at Ardmore Park over the course of the year. Two adjoining units, both of which were four-bedders, that covered 2,885 square feet were sold on July 5. The property title search reveals that the owners from an Indonesian family bought the two units. A unit sold at $14.08 million ($4,881 per square foot) which is a new PSF price record for resales transactions in the development. The seller bought the unit at $9.08 million ($3,148 per sqf) in October of 2010. They thereby made an income of $5 million (55.1%), making the second-highest profit that was recorded at Ardmore Park in the past year. The unit that was sold at $11.5 million ($3,986 per sq ft). Seller, who bought it in April of 2019 with an amount of $8.5 million ($2,773 per sq ft) made an income of $3.5 million, or 43.8%.
The Ardmore Park comprises 330 units. Ardmore Park is an open-air luxury development owned created by Wharf Estates Singapore (formerly Wheelock Properties). It was completed in 2001 and includes three 30-storey towers. The most common units in the development are four-bedroom units with a total area of 2,885 square feet, as well as six penthouses duplex with 874 sq ft each.
Reflections On Keppel Bay was the third-highest profit transaction of the year. It follows the sale of 705 sq ft of the unit at $17.63 million ($2,500 per sq ft) on September 12. The apartment, at the 40th level, was purchased at $11 million ($1,560 per square foot) on September 10, 2021. The seller made the seller a profit of $6.63 million, or 60.2%.
If the period of holding was one year, the buyer would have been subjected stamp duty (SSD) for the transaction. SSD rates of 12% are applied to transactions held for more than a year. SSD rates of twelve% applies to properties that are held for more than 1 year and eight% for properties which are held longer than one year but not for up to two years as well as four% for properties that are held for longer than two years but for up at three years.
Reflections at Keppel Bay Reflections At Keppel Bay an exclusive waterfront luxury development of 1,129 units located in the District 9 area of Keppel Land. The 99-year leasehold development was completed in the year 2011 featuring six towers of residential that range from 24 to 41 floors along with 11 lower-rise blocks.
The biggest annual loss was in The Marq on Patterson Hill in the wake of the Sept. 7 auction of 3,089 square feet property at $13.38 million ($4,331 per square foot). The seller purchased the four-bedroom apartment located at the top of 20th Floor $20.54 million ($6,650 per square foot) in November of 2011. They lost $7.16 millions (34.9%), which is equivalent to an annualized decrease in the range of 3.9% over nearly 11 years.
The deal was a record-breaking loss for the development, surpassing the previous record set in December of 2017 when a 3,089 sq feet unit was purchased at $10.28 million ($3,328 per square foot). The unit was purchased at $15.2 million ($4,920 per square foot) on September 12, 2012 which meant that the seller suffered an expense in the amount of $4.92 millions ($32%) over five years.
located in District 9. The Marq on Paterson Hill is a freehold development of SC Global Developments that was completed in the year 2011. The development has 66 units spread across two 24-storey towers with sizes starting at 3,057 square feet.
reflections at Keppel Bay also recorded two of the biggest declines in 2022. On April 29 an area of 3,993 square feet located on 4th floor of the building was sold at $5.85 million ($1,465 per sq ft). The buyer, who bought the unit for $9.981 million ($2,499 per square foot) at the end of May 2007 made the loss that was $4.131 millions (41.4%) over a 15-year period of holding, or an annualized decline that was 3.5%.
Additionally an area of 6,835 square feet space located on the sixth floor was purchased at $12.2 million ($1,785 per square foot) on the 25th of August. It was bought at $15.55 million ($2,276 per sq ft) on August 7, 2007 which means the seller suffered a loss of $3.35 millon (21.6%) over 15 years.
Seascape which is the 99-year leasehold condo situated in Sentosa Cove, saw the third-worst transaction of the year. On October 21 the 3,380 square foot duplex penthouse was purchased at $5.9 million ($1,746 per sq ft). The buyer bought the property at $9.6 million ($2,840 per sq ft) in January of 2011, that’s a loss of $3.7 millions (38.5%) over a 12-year period of holding years.
The Seascape, a 151-unit Seascape constructed through Ho Bee Land, comprises two residential blocks of eight stories. The units are comprised of three- and four-bedders ranging from 2,164 to 4,069 square feet and eight penthouse units ranging from 3,380 to 4,252 sq feet. The project was completed in the year 2011.