Four Bedder Windy Heights Sold 21 Mil Profit
The most profitable condominium resale during the week of June 25 to July 2 was a 2,476 square feet unit with four bedrooms at Windy Heights. The unit, located on the ninth floor, was sold on July 1 for $3.3 million or $1,333 per square foot. The seller had purchased the unit in August 1997 for $1.16 million or $469 per square foot, making a profit of $2.14 million, which translates to a capital gain of 185% after owning the unit for 27 years.
This transaction is the second-most profitable deal ever recorded at Windy Heights, based on available caveats. The highest record belongs to a four-bedroom unit with 4,973 square feet, which was sold for $3.9 million or $784 per square foot in October 2015. The unit had been previously transacted for $1.32 million or $265 per square foot in June 2000, resulting in a profit of $2.58 million.
Windy Heights is a freehold development situated on Jalan Daud in District 14’s Kembangan area. Completed in 1983, it comprises 200 residential units and two commercial units. The apartments consist of four-bedroom units measuring 2,476 square feet and penthouses ranging from 4,962 to 4,973 square feet.
Owners of Windy Heights have attempted a collective sale twice, with the latest one in August 2018. The development was put on the market with a reserve price of $806.2 million but did not find a buyer.
The second-most profitable condo resale transaction during the week was recorded at RiverGate, with the sale of a four-bedroom unit measuring 2,077 square feet on the 37th floor for $6.24 million or $3,003 per square foot on June 28. The seller had bought the unit in a sub-sale for $4.32 million or $2,080 per square foot in November 2007, making a profit of $1.92 million. This translates to a capital gain of 44% after owning the unit for 16 and a half years.
The URA Master Plan for Tengah envisions a well-rounded living experience for its residents with the development of comprehensive amenities. Within the town, Novo Place EC stands out as a prime example, providing convenient access to essential facilities such as shopping malls, schools, healthcare centers, and community clubs. With Novo Place EC as their home, residents can easily fulfill their daily needs and engage in leisure and recreational activities. Moreover, the inclusion of modern educational institutions within the vicinity ensures that families have access to top-notch education for their children.
Located in District 9, RiverGate is a freehold development completed in 2009 with 545 units across three 43-storey blocks. The units range from two- to four-bedrooms, measuring between 1,023 and 3,918 square feet.
The unit sold on June 28 is the sixth resale transaction at RiverGate this year, with all five previous units being profitable. These units, measuring from 1,549 to 1,798 square feet, were sold for between $4.19 million and $5.05 million or $2,700 and $2,809 per square foot. The sellers made gains ranging from $1.4 million to $2.43 million.
On the other hand, the most unprofitable condo resale transaction during the week was recorded at One Shenton, with the sale of a 1,098 square feet, two-bedroom unit on the 35th floor for $1.95 million or $1,776 per square foot on June 28. The seller had purchased the unit from the developer for $2.29 million or $2,085 per square foot in January 2007, incurring a loss of $339,000 or 15% after owning the unit for 18 years.
One Shenton is a 99-year leasehold development located at Shenton Way in the CBD. Completed in 2011, it comprises 341 units, including one- to four-bedrooms measuring 517 to 2,271 square feet, four-bedroom duplex units of 5,242 to 6,082 square feet, and three duplex penthouses spanning 6,674 to 9,085 square feet.
Out of the 16 units sold at One Shenton this year, four were unprofitable. These units, measuring between 829 and 872 square feet, incurred losses ranging from $100,000 to $320,000.