Four Bedder Four Seasons Park Sold 38 Mil Profit

The most profitable condo sale in the week of Aug 20 to 27 was a 2,260 sq ft unit at Four Seasons Park, which sold for $7.8 million ($3,451 psf) on Aug 26. The seller originally bought the unit in September 2020 for $4 million ($1,770 psf), earning a gain of $3.8 million after owning the unit for around four years. This translates to a capital gain of 95% for the seller or an annualised profit of 23.8%.The recent sale at Four Seasons Park is the first resale transaction in 2021 at the development. It is also the most profitable deal recorded in the past two years, though it falls short of the record gain ever achieved at Four Seasons Park. That title belongs to a penthouse spanning 6,157 sq ft, which was sold for $17.88 million ($2,904 psf) in December 2019. The seller originally bought the unit for $9 million ($1,462 psf) in June 2002, raking in a profit of $8.88 million with the resale. Four Seasons Park is a freehold condo situated on Cuscaden Walk, a prime location near the bustling Orchard Road shopping belt in District 10. Built in 1994, the upscale development boasts 202 units that range from 2,153 sq ft to 7,772 sq ft in size. It is just a five-minute walk to Ion Orchard and the Orchard Interchange MRT station, which serves the North-South and Thomson-East Coast Lines.Read also: Profit of $4.9 million on sale of unit at Grange ResidencesSignificantly, the luxury condo market in Singapore has remained resilient during the pandemic. The recent sale at Four Seasons Park is just one of many examples of profitable transactions in the high-end residential segment. According to caveats data, the most profitable deal at Four Seasons Park to date was the $17.88 million penthouse sale in December 2019, followed by a $9.5 million condo sale in May 2018, giving us an idea of the kind of capital gains that can be made from investing in luxury properties in prime districts.The sale of a 1,894 sq ft four-bedroom apartment at The Trevose was the second-most profitable resale property deal recorded that week. The unit, which is located on the third floor, changed hands for $3.36 million ($1,774 psf) on Aug 22. The seller originally bought the property for $1.34 million ($707 psf) way back in June 2002, reaping a handsome profit of $2.02 million (151%) after holding the unit for more than two decades.That sale at The Trevose is the fourth most profitable deal observed at the condo thus far. The record is held by a 3,358 sq ft duplex penthouse, which was sold for $3.65 million ($1,087 psf) in September 2007. That particular unit had also been sold in June 2006 for $1.5 million ($448 psf), meaning the seller recorded a massive profit of $2.15 million in just over a year. The Trevose is a leasehold condo on Trevose Crescent, which is near the junction of Dunearn Road and Whitley Road in District 11. It was completed in 2001 and comprises three low-rise blocks with a total of just 142 residential units. These units include two-, three-, and four-bedroom apartments, with sizes ranging from 958 sq ft to 3,627 sq ft. The condo is also a short 10-minute walk from Stevens MRT Interchange station on the Downtown and Thomson-East Coast Lines.Meanwhile, the least profitable resale property transaction that week was the sale of a duplex penthouse at Wilkie Studio. The 1,819 sq ft unit was sold for $2.81 million ($1,544 psf) on Aug 23, representing a substantial loss of about $230,000 (7.5%) for the seller. That is because the seller had originally acquired the unit directly from the developer in February 2008 for $3.04 million ($1,670 psf).The freehold Wilkie Studio is a boutique apartment located on Wilkie Road. It was completed in 2010 and boasts just 40 units spread across a single four-storey block. There are a variety of units available at the development, ranging from one-bedroom apartments with a study to four-bedroom residences, which span between 743 sq ft to 2,906 sq ft in size.Read also: Luxury homes in Singapore are highly desired by foreign buyersThe unit that was sold on Aug 23 is the third resale transaction to take place at Wilkie Studio this year. The first unit was a 872 sq ft apartment that fetched $1.65 million ($1,892 psf) on July 2. The seller originally bought the home in August 2017 for $1.34 million ($1,537 psf), earning a profit of about $310,000 upon the resale. The second transaction conducted was for a 1,163 sq ft unit, which was sold for $2.29 million ($1,969 psf) on July 12. The seller had previously acquired the unit in June 2018 for $1.74 million ($1,496 psf), earning a handsome profit of around $550,000.The resale market in Singapore has remained relatively robust this year, with many units continuing to fetch substantial gains for their sellers. These three transactions are all excellent examples of profitable resale deals, with the most profitable transaction at Four Seasons Park registering a gain of $3.8 million for the seller. With the luxury property market remaining resilient amidst an uncertain global climate, it is evident that high-end properties in Singapore continue to be highly sought after investments.

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