Three Bedder Maple Woods Sold 2 Mil Profit
During the week of November 12 to 19, the most profitable condo resale transaction occurred at Maple Woods, with a three-bedroom unit selling for $3.3 million ($2,144 psf) on November 15. The 1,539 sq ft unit on the first floor was originally purchased by the seller in April 2009 for $1.28 million ($830 psf), resulting in a profit of $2.02 million or a 158% capital gain. This equates to an annualized profit of 10.6% over a holding period of 15 and a half years.
Maple Woods, a freehold condo located in prime District 10 on Bukit Timah Road, was built in 1997 and has 697 units ranging from two to four bedrooms, from 850 sq ft to 3,003 sq ft. It is conveniently located within a five-minute walk from King Albert Park MRT Station on the Downtown Line and is near well-regarded schools such as Methodist Girls’ School and the Rail Corridor.
This year, there have been a total of 10 other resale transactions at Maple Woods, all of which have been profitable deals with sellers making gains of at least $425,000. Three of these units sold for over $2 million in profit. One was a 1,787 sq ft, three-bedroom unit on the eighth floor that sold for $3.75 million ($2,099 psf) on July 1997, making a profit of $2.15 million for the seller who had purchased the unit for $1.6 million ($895 psf). Another three-bedroom unit of the same size sold for $3.82 million ($2,138 psf) on September 10, resulting in a profit of $2.47 million for the seller who had bought it in March 2007 for $1.35 million ($756 psf). The third unit, a four-bedroom unit on the eighth floor measuring 3,003 sq ft, sold for $5 million ($1,665 psf) on September 10, making a profit of $2.6 million for the seller who had bought it in September 1998 for $2.4 million ($798 psf).
The second most profitable condo resale deal during this week took place at UE Square, where a three-bedroom unit measuring 1,528 sq ft on the seventh floor sold for $2.95 million ($1,930 psf) on November 14. The seller had acquired the unit through a sub-sale in December 1997 for $1.3 million ($850 psf), resulting in a profit of $1.65 million (or 127%) after owning the unit for almost 27 years.
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UE Square is a part of UE BizHub City, a mixed-use development in District 9 along Clemenceau Avenue, near Clarke Quay. The development has 345 residences, consisting of one- to five-bedroom units ranging from 506 sq ft to 2,379 sq ft, as well as penthouses measuring 3,089 sq ft. Completed in 1997, it is situated near Fort Canning MRT Station on the Downtown Line.
On the other hand, the most unprofitable condo resale transaction during this week occurred at Tomlinson Heights, where a three-bedroom unit measuring 2,745 sq ft on the 19th floor sold for $8.25 million ($3,006 psf) on November 19. The seller had originally purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf), incurring a loss of $601,000 (or 6.8%) after owning the unit for almost 14 years.
Tomlinson Heights is a luxury freehold condo off Orchard Boulevard, comprising a 36-storey tower with a mix of three- and five-bedroom units ranging from 2,551 sq ft to 6,738 sq ft. It was completed in 2014 and is situated within walking distance to malls along Orchard Road.
This unit was the first caveated transaction at Tomlinson Heights since January 5, 2023, when another 2,745 sq ft unit sold for $10.5 million ($3,825 psf). The seller had bought it in May 2011 for $8.38 million ($3,053 psf), making a gain of $2.12 million.
In conclusion, the sale of a three-bedroom unit at Maple Woods was the most profitable condo resale transaction during the week of November 12 to 19, while the most unprofitable deal occurred at Tomlinson Heights. UE Square also saw a profitable resale transaction, making it one of the top resale deals in the development.