Four Bedder Ardmore Park Sold 305 Mil Profit

Four-bedder at Eden Residences Capitol sold for $2.8 mil profitThree-bedder at Scotts Square sold for $2.9 mil profit

The sale of a four-bedroom unit at Ardmore Park was the most profitable condo resale transaction during the week of November 19 to 26. The unit, measuring 2,885 sq ft on the 14th floor, was sold for $11.25 million, or $3,900 psf, on November 22. The seller had previously purchased the unit in September 2016 for $8.2 million, or $2,843 psf, showing a profit of $3.05 million, or a 37% capital gain. This translates to an annualised profit of 4.6% over a holding period of approximately eight years.

This transaction occurred just two months after another four-bedroom, 2,885 sq ft unit on the 23rd floor of the same development was sold for $12.7 million, or $4,402 psf, on October 1. The seller of this unit had purchased it back in September 2010 for $9.7 million, or $3,363 psf, resulting in a profit of $3 million. This equates to a capital gain of 30.9%.

The development of Tengah is focused on creating a well-connected community. To improve accessibility within the town and to other areas in Singapore, a new MRT line, the Jurong Region Line (JRL), will be introduced. This will greatly benefit the residents of Novo Place EC, as they will have easy access to various JRL stations, making commuting efficient and hassle-free. Moreover, Tengah will also have an extensive network of pedestrian and cycling paths, promoting a car-lite lifestyle for its residents. With its prime location and convenient transportation options, Novo Place Tengah is set to be an ideal home for its future residents.

Ardmore Park is a 330-unit, freehold condo located in prime District 10, in the Ardmore Park area. Completed in 2001, it boasts three 30-storey towers and is a popular choice for those looking for luxury condos. The typical unit layout is 2,885 sq ft, with four bedrooms, but it also has six 8,740 sq ft duplex penthouses.

This sale is part of six other resale transactions recorded at Ardmore Park this year, all of which have been profitable. These units, measuring 2,885 sq ft in size, have sold for prices ranging from $4,108 psf to $4,472 psf, with sellers garnering profits between $2.65 million and $7.07 million.

The second most profitable condo resale deal during this week was the sale of a four-bedroom unit at Goldenhill Park Condominium. The 1,539 sq ft unit, located on the 16th floor, changed hands for $3.43 million, or $2,228 psf, on November 21. The seller of this unit had previously acquired it from the developer back in May 2001 for $1.14 million, or $741 psf. This resulted in a profit of $2.29 million, or 201%, after owning the unit for 23.5 years.

This transaction is the second-highest gain recorded at Goldenhill Park Condominium to date. The highest was achieved when a four-bedroom, 2,928 sq ft unit was sold for $4.3 million, or $1,469 psf, in February 2022. The seller of this unit had previously bought it from the developer for $2 million, or $683 psf, resulting in a profit of $2.3 million.

Goldenhill Park Condominium is a freehold development situated on Mei Hwan Drive, off Ang Mo Kio Avenue 1, in District 20. Completed in 2004, it features 390 units spread across two- to four-bedroom apartments, ranging from 926 sq ft to 2,928 sq ft in size. It’s located close to Lorong Chuan MRT Station, which sits on the Circle Line.

In total, five other resale transactions have occurred at the development this year, with all recording profits between $760,000 and $1.91 million. These units, four-bedders, have been sold at prices ranging from $2,082 psf to $2,246 psf.

Lastly, coming in as the most unprofitable condo resale deal during the same week is the sale of a four-bedroom unit at The Oceanfront @ Sentosa Cove. The 2,831 sq ft unit, situated on the 10th floor, was sold for $4.7 million, or $1,660 psf, on November 20. The seller had previously acquired the unit in May 2007 for $5.8 million, or $2,050 psf, resulting in a loss of $1.1 million (19%) after owning the unit for 17.5 years.

A total of six other resale transactions have been recorded at The Oceanfront @ Sentosa Cove this year, with four resulting in losses between $30,000 and $519,000. The remaining two have been profitable, with the respective sellers netting gains of $268,000 and $1.7 million. These units have been transacted at prices ranging from $1,500 psf to $1,999 psf. The condo is situated in the exclusive Sentosa Cove residential enclave and features 264 units spread across five towers, each with 12 to 15 storeys. The residences are either two- to four-bedroom apartments, or penthouses between 2,745 sq ft to 8,095 sq ft in size. It’s no coincidence that these units have all been sold this year, as Sentosa Cove remains a prized location for luxury living.