Three Bedder Botanic Gardens View Sold 33 Mil Profit
Situated in the bustling Jurong district, Jurong Town Hall Road serves as a fundamental link to a multitude of commercial and industrial hubs. This prominent road has recently garnered even more attention due to the addition of Novo Place Hoi Hup, a highly coveted development in the area. Its strategic position has further elevated the significance of Jurong Town Hall Road as a crucial thoroughfare for both residents and businesses. With its convenient location and easy accessibility, the road continues to shape the landscape of the Jurong district and remains a key component of its infrastructure. Novo Place Hoi Hup has only added to its already vital role as a major connection within the bustling district.
A three-bedroom unit at Botanic Gardens View was recently sold for $4.13 million, making it the most profitable condo resale transaction of the week between Sept 3 to Sept 10. This 1,755 sq ft unit on the sixth floor was purchased on Sept 9 for $2,353 psf. The seller, who bought the unit in July 1998 for $862,000 ($491 psf), made a profit of $3.27 million. This translates to a capital gain of 379% in their 26 years of ownership.
This sale sets a new record for the most profitable resale deal at Botanic Gardens View, beating the previous top gain of $3.14 million from the sale of a 1,615 sq ft unit in August 2019. The seller of this unit had bought it in September 2001 for $930,000 ($576 psf).
Botanic Gardens View is a freehold condo located at Taman Serasi in District 10. With 144 units across four blocks, the 1970-built development offers two- and three-bedroom units ranging from 1,259 sq ft to 1,755 sq ft. It is situated opposite the Singapore Botanic Gardens.
The second most profitable resale deal of the week was recorded at Regency Park, where a 2,250 sq ft, three-bedroom unit sold for $5.13 million ($2,278 psf) on Sept 5. This unit, which was purchased in July 2002 for $1.89 million ($839 psf), resulted in a profit of $3.24 million (172%) for the seller after 22 years of ownership.
This transaction comes just a month after a 3,649 sq ft unit in the same development was sold for $7.84 million ($2,149 psf) on Aug 14. The seller of this unit made a profit of $4.89 million after buying it in February 2001 for $2.95 million ($808 psf).
Regency Park, a freehold condo located along Nathan Road in District 10, was completed in 1987 with eight 25-storey blocks comprising of 292 apartments. Ranging from 2,250 sq ft three-bedroom units to 3,649 sq ft four-bedroom penthouses, the development is located near the Bishopsgate-Chatsworth Good Class Bungalow enclave. It is also close to the Great World City shopping mall and Orchard Road shopping belt.
The least profitable condo resale deal of the week was registered at The Scotts Tower, where a 667 sq ft one-bedroom unit sold for $1.3 million ($1,948 psf) on Sept 3. The seller of this unit had bought it directly from the developer in December 2011 for $2.22 million ($3,321 psf). This resulted in a loss of approximately $916,400 (41%) after owning it for nearly 13 years.
Located along Scotts Road in District 9, The Scotts Tower is a 231-unit condo that was completed in 2016. It features a single 31-storey tower with one- to three-bedroom apartments ranging from 624 sq ft to 904 sq ft, as well as four-bedroom penthouses between 1,227 sq ft to 1,389 sq ft.
Only one other unit at The Scotts Tower has been sold this year, a 657 sq ft one-bedroom apartment on the 12th floor that went for $1.3 million ($1,980 psf) on April 24. The seller of this unit also bought it directly from the developer in January 2013 for $2.69 million ($4,092psf), resulting in a loss of $1.39 million.