Four Bedder Ardmore Park Sold 305 Mil Profit
The most lucrative resale deal in the week of November 19 to 26 was the sale of a four-bedroom unit measuring 2,885 sq ft at Ardmore Park. The 14th-floor unit fetched $11.25 million ($3,900 psf) on November 22, resulting in a profit of $3.05 million for the seller. This represents a capital gain of 37% and an annualized profit of 4.6% over an eight-year holding period.
A similar transaction occurred earlier in October, when another four-bedroom unit of the same size on the 23rd floor was sold for $12.7 million ($4,402 psf). The seller of this unit made a profit of $3 million, translating to a capital gain of 30.9%.
Ardmore Park is a freehold condominium with 330 units, located in the prime District 10 area of Ardmore Park. Completed in 2001, the luxury development comprises three 30-storey towers and offers 2,885 sq ft four-bedroom apartments, as well as 8,740 sq ft duplex penthouses.
Apart from the two transactions mentioned, there have been four other profitable resale deals at Ardmore Park this year, with prices ranging from $4,108 psf to $4,472 psf. The sellers made profits of $2.65 million to $7.07 million.
The second most profitable resale deal during the week was the sale of a four-bedroom unit at Goldenhill Park Condominium. The 1,539 sq ft unit on the 16th floor sold for $3.43 million ($2,228 psf) on November 21, resulting in a profit of $2.29 million for the seller. This translates to a capital gain of 201%, as the unit was purchased from the developer in May 2001 for $1.14 million ($741 psf) and was held for 23 and a half years.
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This is the second-highest gain recorded at Goldenhill Park Condominium, with the record belonging to a four-bedroom penthouse sold for $4.3 million ($1,469 psf) in February 2022. The seller of this unit had purchased it from the developer in April 2001 for about $2 million ($683 psf), making a gain of $2.3 million.
Goldenhill Park Condominium is a freehold development with 390 units, situated on Mei Hwan Drive in District 20. Completed in 2004, the condo offers two- to four-bedroom apartments ranging from 926 sq ft to 2,928 sq ft. The condo is located near the Lorong Chuan MRT Station on the Circle Line.
Five other profitable resale transactions have taken place at Goldenhill Park Condominium this year, with the units selling for $2,082 psf to $2,246 psf and profits ranging from $760,000 to $1.91 million.
On the other hand, the most unprofitable deal in the week was the sale of a 2,831 sq ft four-bedroom unit at The Oceanfront @ Sentosa Cove. The unit on the 10th floor was sold for $4.7 million ($1,660 psf) on November 20, resulting in a loss of $1.1 million for the seller. The unit was purchased in May 2007 for $5.8 million ($2,050 psf), and the seller had owned it for 17 and a half years.
The Oceanfront @ Sentosa Cove is a 99-year leasehold condo in exclusive Sentosa Cove. Completed in 2010, the waterfront development comprises 264 units spread across five 12- to 15-storey towers. Units range from two- to four-bedrooms, from 1,216 sq ft to 4,284 sq ft, with penthouses of 2,745 sq ft to 8,095 sq ft.
Based on caveats lodged, there have been six other resale transactions at The Oceanfront @ Sentosa Cove this year, with prices ranging from $1,500 psf to $1,999 psf. Four of these deals resulted in losses of $30,000 to $519,000, while the other two were profitable, with gains of $268,000 and $1.7 million respectively.