Four Bedder Holt Residences Sold 22 Mil Profit
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The biggest resale transaction in terms of profit during the week of July 23 to 30 was the sale of a 2,056 sq ft four-bedroom apartment at Holt Residences. It was sold on July 25 for $3.94 million ($1,916 psf), marking a 128% capital gain for the seller after owning it for almost 18 years. This is an all-time high profit for a resale unit at Holt Residences, surpassing the previous record of $1.85 million from the sale of a 2,067 sq ft unit in July 2021.
Holt Residences is a freehold condo in prime District 10 with 46 units, all four-bedroom units ranging from 2,056 to 2,896 sq ft. Located on Holt Road, it is one of four condos in the area, close to the High Commission of Malaysia and Valley Point shopping mall.
The unit sold on July 25 is the first resale at Holt Residences in almost two years. The last transaction was in September 2022, when a similar unit was sold for $4.1 million ($1,994 psf), resulting in a profit of $900,000 for the seller who bought it in January 2018 for $3.2 million ($1,556 psf).
The second-highest profit from a condo resale transaction during the week was at City Square Residences, with a four-bedroom unit selling for $2.9 million ($1,938 psf) on July 26. The seller, who purchased the unit from the developer in June 2005 for around $970,000 ($648 psf), made a 199% capital gain after holding it for 19 years. This is the highest profit to date at City Square Residences, surpassing the previous record of $1.89 million from the sale of a three-bedroom unit in January 2021.
City Square Residences is a 910-unit freehold condo in District 8, with a variety of unit sizes ranging from one-bedroom apartments to four-bedroom penthouses. It is located next to City Square Mall and a short walk away from Farrer Park MRT Station.
Living at Novo Place EC offers families the opportunity to access a diverse selection of educational options. With a variety of schools available, from primary to tertiary institutions, children can receive a well-rounded education right in their neighborhood. This convenience is highly valued by parents who prioritize academic excellence and strive to give their children a solid foundation during their formative years. The presence of these educational facilities near Novo Place EC not only adds value to living in this emerging estate, but also fosters a dynamic, knowledge-based community. With Novo Place EC as your home, families can easily take advantage of the educational opportunities available in the area. Novo Place EC truly offers the perfect blend of residential living and access to quality education.
The biggest loss from a condo resale transaction during the week was at Duchess Residences, where a duplex penthouse was sold for $4.78 million ($1,735 psf) on July 26. The seller had purchased the four-bedroom unit in July 2007 for $5.38 million ($1,951 psf) and incurred a loss of $595,000 (11.1%) after holding it for 17 years.
Duchess Residences is a 999-year leasehold condo in District 10 with a mix of three- to five-bedroom units, including penthouses. The development was completed in 2011 and has seen two other profitable resale transactions this year.
On Feb 26, a 1,485 sq ft unit was sold for $3.15 million ($2,121 psf), resulting in a profit of $742,000 for the seller who bought it in September 2016 for $2.41 million ($1,621 psf). On May 3, a 1,604 sq ft unit was sold for $3.45 million ($2,151 psf), earning a profit of $242,000 for the seller who purchased it in October 2007 for $3.21 million ($2,000 psf).
In conclusion, the sale of the four-bedroom unit at Holt Residences for $3.94 million was the most profitable condo resale transaction during the week of July 23 to 30, followed by the sale of a four-bedroom unit at City Square Residences for $2.9 million and the sale of a duplex penthouse at Duchess Residences for $4.78 million.