Four Bedder Holt Residences Sold 22 Mil Profit
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Rewritten:
The most profitable resale transaction during the week of July 23 to 30 was the sale of a four-bedroom apartment measuring 2,056 sq ft at Holt Residences. The unit, located on the fifth floor, was sold for $3.94 million ($1,916 psf) on July 25. The seller had originally purchased the unit in September 2006 for $1.73 million ($840 psf). This translates to a profit of $2.21 million, which reflects a capital gain of 128% for the seller after owning the property for nearly 18 years.
Located in a prime location, Elta CSC Land’s Elta Condo offers residents easy access to one-north, a prominent research and development hub. This bustling area is home to numerous multinational corporations, research institutions, and dynamic start-ups, providing an ideal environment for both work and play. With its close proximity to these business hubs, professionals looking for a well-connected home base will find Elta CSC Land‘s Elta Condo an attractive option for their housing needs.
This record profit marks the highest resale transaction at Holt Residences, based on caveats lodged. The previous top gain was $1.85 million, made from the sale of a 2,067 sq ft, four-bedroom unit for $3.55 million ($1,718 psf) in July 2021. The seller had purchased the unit in August 2006 for $1.7 million ($823 psf).
Holt Residences is a freehold condo located on Holt Road, off River Valley Road in prime District 10. Completed in 2000, this boutique development consists of 46 units, all of which are four-bedroom apartments ranging from 2,056 to 2,896 sq ft. It is one of four condos situated along Holt Road, in close proximity to the High Commission of Malaysia. The popular shopping mall, Valley Point, is also just a short distance away.
In addition, a four-bedroom unit at City Square Residences also saw a high gain in profit during the same week. The 1,496 sq ft unit on the fifth floor was sold for $2.9 million ($1,938 psf) on July 26. The seller had initially purchased the unit from the developer in June 2005 for about $970,000 ($648 psf), making a profit of $1.93 million. This translates to a 199% capital gain for the seller after owning the property for 19 years.
The latest sale at City Square Residences marks the highest resale gain at the development to date, surpassing the previous record of $1.89 million from the sale of a 1,216 sq ft, three-bedroom unit on January 5. The seller of that unit had originally bought it from the developer in May 2005 for approximately $669,000 ($550 psf) and sold it for $2.56 million ($2,105 psf).
City Square Residences is a freehold condo consisting of 910 units, located on Kitchener Link next to City Square Mall in District 8. It is within walking distance to Farrer Park MRT Station on the North East Line, which is connected to the mall. Completed in 2009, this development consists of six blocks of residences ranging from 28 to 30 storeys. The units at City Square Residences include one-bedroom apartments of 570 to 850 sq ft, two-bedroom apartments of 840 to 1,302 sq ft, three-bedroom units of 1,195 to 1,830 sq ft, and four-bedroom units of 1,496 to 1,518 sq ft.
On the other hand, the most unprofitable condo resale transaction during the week was at Duchess Residences, with the sale of a 2,756 sq ft duplex penthouse for $4.78 million ($1,735 psf) on July 26. The seller had previously bought the four-bedroom unit in July 2007 for $5.38 million ($1,951 psf), resulting in a loss of $595,000 (11.1%) after owning the property for 17 years.
Duchess Residences is a 999-year leasehold condo located on Duchess Avenue, off Bukit Timah Road in District 10. Completed in 2011, this development consists of 120 units, including three-bedders from 1,464 to 1,604 sq ft, four-bedders of 1,873 to 2,465 sq ft, and four-bedroom maisonettes of 2,971 to 3,444 sq ft. There are also penthouses with four or five bedrooms, ranging from 2,745 to 4,101 sq ft.
In addition to the unit that changed hands on July 26, there were two other profitable resale transactions at Duchess Residences this year. On February 26, a 1,485 sq ft unit was sold for $3.15 million ($2,121 psf). The seller, who had bought the unit in September 2016 for $2.41 million ($1,621 psf), raked in a profit of $742,000. On May 3, a 1,604 sq ft unit was sold for $3.45 million ($2,151 psf). The seller, who had purchased the unit in October 2007 for $3.21 million ($2,000 psf), made a profit of $242,000.