Three Bedder Maple Woods Sold 2 Mil Profit
The most profitable condo resale transaction during the week of Nov 12 to 19 occurred at Maple Woods, where a three-bedroom unit was sold for $3.3 million ($2,144 psf) on Nov 15. The unit, located on the first floor, spans 1,539 sq ft and the seller had purchased it in 2009 for $1.28 million ($830 psf). This resulted in a profit of $2.02 million, representing a 158% capital gain or an annualised profit of 10.6% over a holding period of approximately 15 and a half years. The freehold condo, built in 1997, is situated in prime District 10 on Bukit Timah Road and has 697 units ranging from two to four bedrooms, measuring between 850 sq ft and 3,003 sq ft. It is within a five-minute walk to King Albert Park MRT Station on the Downtown Line, and is also close to schools such as Methodist Girls’ School and the Rail Corridor. According to available caveats, there have been 10 other resale transactions at Maple Woods this year, all of which were profitable deals with the sellers making gains of at least $425,000. Three of the units sold netted profits of over $2 million. The first was a three-bedroom unit on the eighth floor measuring 1,787 sq ft which was sold for $3.75 million ($2,099 psf), resulting in a profit of $2.15 million. The unit was purchased in July 1997 for $1.6 million ($895 psf).In September this year, two other units were sold with profits of over $2 million. The first is a 1,787 sq ft, three-bedroom unit that was sold for $3.82 million ($2,138 psf) on Sept 10. The seller, who had bought the unit in March 2007 for $1.35 million ($756 psf), made a profit of $2.47 million. The other was a 3,003 sq ft, four-bedroom unit on the eighth floor that changed hands for $5 million ($1,665 psf) on the same day. The seller, who bought the unit in September 1998 for $2.4 million ($798 psf), made a gain of $2.6 million. At UE Square, the second most profitable resale transaction of the week took place on Nov 14 when a three-bedroom unit measuring 1,528 sq ft on the seventh floor was sold for $2.95 million ($1,930 psf). The seller had initially bought the unit in December 1997 for $1.3 million ($850 psf), resulting in a gain of $1.65 million (127%) after owning the unit for nearly 27 years. This sale is now the fourth most profitable resale transaction at UE Square, with the record belonging to a four-bedroom penthouse spanning 3,089 sq ft that was sold for $6.27 million ($2,031 psf) on Oct 6, 2023. The seller had bought the unit in December 2009 for $4.1 million ($1,327 psf), resulting in a gain of $2.17 million. UE Square, located in District 9, is part of the UE BizHub City mixed-use development along Clemenceau Avenue. It consists of an 18-storey office building, a four-storey shopping podium and two 18-storey residential blocks with a total of 345 units. The development has one- to five-bedroom units ranging from 506 sq ft to 2,379 sq ft, as well as 3,089 sq ft penthouses. Fort Canning MRT Station on the Downtown Line is close by.Tomlinson Heights, also in District 9, registered the most unprofitable condo resale transaction during the week. On Nov 19, a three-bedroom unit measuring 2,745 sq ft on the 19th floor was sold for $8.25 million ($3,006 psf). The seller had initially purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf), resulting in a loss of about $601,000 (6.8%) after owning the unit for almost 14 years.Tomlinson Heights is a freehold luxury condo with a 70-unit block on Orchard Boulevard, comprising three- and five-bedroom units ranging from 2,551 sq ft to 6,738 sq ft. Completed in 2014, the development is close to Orchard Road’s shopping malls. This is the first caveated transaction at Tomlinson Heights since Jan 5, 2023, when another 2,745 sq ft unit was sold for $10.5 million ($3,825 psf). This resulted in a gain of $2.12 million for the seller, who had bought the unit from the developer for $8.38 million ($3,053 psf) in May 2011.
The recent sale of a three-bedroom unit at Maple Woods made headlines as the most lucrative condo resale transaction of the week of November 12 to 19. Located in prime District 10 on Bukit Timah Road, the 1,539 sq ft unit on the first floor was sold for $3.3 million, translating to $2,144 per square foot (psf) on November 15. The seller had originally purchased the unit in April 2009 for $1.28 million, which equates to $830 psf. This resulted in a remarkable profit of $2.02 million, reflecting a capital gain of 158% or an annualised profit of 10.6% over a holding period of approximately 15 and a half years.
Maple Woods, a freehold condo that was completed in 1997, comprises 697 residential units spanning two to four bedrooms and measuring between 850 sq ft and 3,003 sq ft. The development is conveniently located a five-minute walk from King Albert Park MRT Station on the Downtown Line and is highly sought after for its close proximity to reputable schools such as Methodist Girls’ School and popular recreational spot, the Rail Corridor.
According to available caveats, there have been a total of ten other resale transactions at Maple Woods this year, all with profitable deals. The sellers have raked in gains of at least $425,000 each, with three units selling for over $2 million. The first unit was a 1,787 sq ft, three-bedroom unit on the eighth floor that was sold for $3.75 million ($2,099 psf). The seller made a profit of $2.15 million, having purchased the unit in July 1997 for $1.6 million ($895 psf).
On September 10 this year, two other units at Maple Woods were sold, both making profits of over $2 million. The first was a 1,787 sq ft, three-bedroom unit that was sold for $3.82 million ($2,138 psf). The seller had bought the unit in March 2007 for $1.35 million ($756 psf), making a profit of $2.47 million. The second unit, a 3,003 sq ft, four-bedroom unit on the eighth floor, was sold on the same day for $5 million ($1,665 psf). The seller, who bought the unit in September 1998 for $2.4 million ($798 psf), made a gain of $2.6 million.
The second most profitable condo resale deal during the week occurred at UE Square where a three-bedroom unit measuring 1,528 sq ft on the seventh floor was 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). This resulted in a gain of $1.65 million, a whopping 127%, after owning the unit for nearly 27 years. This sale is now ranked as the fourth most profitable resale transaction at UE Square, with the record being held by a four-bedroom penthouse spanning 3,089 sq ft that was sold on October 6, 2023 for $6.27 million ($2,031 psf). The seller had bought the unit in December 2009 for $4.1 million ($1,327 psf), making a profit of $2.17 million.
UE Square is located in District 9 and is part of the UE BizHub City mixed-use development along Clemenceau Avenue. The development comprises an 18-storey office building, a four-storey shopping podium, and two 18-storey residential blocks with a total of 345 units. The residential units range from one to five bedrooms, measuring between 506 sq ft and 2,379 sq ft, with penthouses of 3,089 sq ft available as well. The development is close to the Fort Canning MRT Station on the Downtown Line.
On the other hand, the most unprofitable condo resale transaction during the week took place at Tomlinson Heights on November 19. The 2,745 sq ft unit on the 19th floor was sold for $8.25 million ($3,006 psf), resulting in a loss of about $601,000 (6.8%) for the seller. The seller had purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf).
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Tomlinson Heights is a luxury freehold condo that sits on Orchard Boulevard in District
