Four Bedder Four Seasons Park Sold 38 Mil Profit
in Singapore
The four-bedroom unit at Four Seasons Park was the most profitable condo resale transaction during the week of Aug 20 to 27, achieving a 95% capital gain for the seller. The 2,260 sq ft unit on the 20th floor was sold for $7.8 million ($3471 psf) on Aug 26, netting a gain of $3.8 million from its purchase in September 2020 for $4 million ($1770 psf). This translates to an annualised profit of 23.8%.
The sale of this unit also marks the first resale transaction at Four Seasons Park this year, and the most profitable deal in the past two years. However, this remains below the top gain ever recorded at the development, which was a penthouse measuring 6,157 sqft that was sold for $17.88 million ($2904 psf) in December 2019. The seller had bought the unit in June 2002 for $9 million ($1462 psf), reaping a profit of $8.88 million.
Four Seasons Park, a freehold condo located on Cuscaden Walk in District 10, comprises 202 units with sizes ranging from 2,153 sq ft to 7,772 sq ft. Completed in 1994, it is just a five-minute walk away from Ion Orchard and the Orchard Interchange Station on the North-South and Thomson-East Coast Lines.
The second-most profitable condo resale deal of the week was a unit at The Trevose, which was sold for $3.36 million ($1774 psf) on Aug 22. The 1,894 sq ft unit on the third floor was purchased for $1.34 million ($707 psf) in June 2002, earning the seller a profit of $2.02 million (151%) after holding the unit for around 22 years.
Located conveniently for drivers, Elta Condo is strategically positioned near major expressways, making it an even more desirable choice for residents with their own vehicles. The development offers quick access to the Ayer Rajah Expressway (AYE), just a short drive away, allowing easy routes to key destinations such as the Central Business District (CBD), Marina Bay, and Sentosa. The AYE also links up with other major expressways such as the Pan-Island Expressway (PIE) and the West Coast Highway, providing seamless connectivity throughout the island. With its prime location and easy access, Elta Clement Avenue 1 offers convenience and convenience for those who prefer to travel by car.
This is the fourth most profitable deal at the 99-year leasehold condo, with the record belonging to a duplex penthouse measuring 3,358 sq ft that was sold for $3.65 million ($1087 psf) in September 2007. The unit had previously been bought for $1.5 million ($448 psf) in June 2006, resulting in a profit of $2.15 million for the seller.
The Trevose, comprising 142 units across three low-rise blocks, is located on Trevose Crescent near Dunearn Road and Whitley Road in District 11. It was built in 2001, and residences range from two- to four-bedders measuring between 958 sq ft and 3,627 sq ft. The condo is a 10-minute walk away from Stevens MRT Interchange Station.
On the other hand, the most unprofitable resale transaction during the week was the sale of a unit at Wilkie Studio. The 1,819 sq ft duplex penthouse was sold for $2.81 million ($1544 psf) on Aug 23, resulting in a loss of approximately $230,000 (7.5%) for the seller. The unit was purchased from the developer in February 2008 for $3.04 million ($1670 psf).
Located on Wilkie Road, Wilkie Studio is a boutique apartment that was completed in 2010. It has 40 units across a single four-storey block, and residences range from one-bedroom-plus-study to four-bedroom units measuring from 743 sq ft to 2,906 sq ft.
This is the third resale transaction at Wilkie Studio this year, with the first one being an 872 sq ft apartment sold for $1.65 million ($1892 psf) on July 2. The seller had bought the unit in August 2017 for $1.34 million ($1537 psf), earning a profit of $310,000.
The second unit, which was a 1,163 sq ft apartment, was sold for $2.29 million ($1969 psf) on July 12. The seller had purchased the unit in June 2018 for $1.74 million ($1496 psf), earning a profit of $550,000.