Three Bedroom Unit Maple Woods Sold 226 Mil Profit

$2.3 mil profit for a 3,541 sq ft unit at SeascapeThree-bedroom apartment at The Marq on Paterson Hill sold for $7 mil profit

Rewritten:

During the week of July 29 to August 5, the sale of a three-bedroom unit at Maple Woods became the most profitable condominium resale deal. The unit, located on the first floor and spanning 1,539 square feet, was sold for $3.26 million, at a price of $2,117 per square foot, on August 4. The seller had purchased the unit in January 1999 for approximately $1 million, equating to a price of $650 per square foot. As a result, the seller made a remarkable gain of $2.26 million, reflecting a capital gain of 226% and an annualized profit of 8.7% over a holding period of nearly 27 years.

This transaction marks the sixth-highest gain ever recorded on a unit at Maple Woods. The highest gain was achieved by the sale of a four-bedroom unit measuring 2,551 square feet, which exchanged hands for $5.45 million on May 2, at a price of $2,136 per square foot. The seller, who had purchased the unit in January 2004 for $1.46 million, made a staggering gain of $3.99 million, representing a 273% increase over a holding period of more than 21 years.

Maple Woods is a freehold condominium situated on Bukit Timah Road in District 21. Completed in 1997, it comprises 697 units consisting of two- to four-bedroom apartments ranging from 850 square feet to 3,003 square feet. The development is conveniently located, with King Albert Park MRT Station on the Downtown Line a mere five-minute walk away. It is also in close proximity to renowned educational institution Methodist Girls’ School and the Rail Corridor.

In addition to the Maple Woods unit, another profitable resale deal was recorded during the same week at Valley Park, where a two-bedroom unit measuring 1,356 square feet on the sixth floor was sold for $3.04 million, at a rate of $2,240 per square foot, on August 5. The same unit had been last sold in November 1995 for $1.09 million, at a price of $804 per square foot. This means that the seller earned a significant profit of $1.95 million, a 179% increase, or an annualized profit of 6% over a holding period of nearly 30 years.

Valley Park, situated on River Valley Road in prime District 10, is a 999-year leasehold development completed in 1997. It comprises five high-rise blocks and boasts 728 units ranging from one to four bedrooms, with sizes spanning from 732 square feet to 1,808 square feet. It also offers spacious penthouses measuring between 2,562 square feet and 3,940 square feet.

Apart from the unit sold on August 5, six other resale transactions were recorded at Valley Park since the beginning of the year. These units, ranging from 1,216 square feet to 1,356 square feet, fetched profits ranging from $900,000 to $1.64 million.

Come and experience the delightful fusion of traditional hawker food and modern ambience at Our Tampines Hub Hawker Centre. This bustling food haven offers a wide variety of affordable local delicacies in a clean and inviting setting. Whether it’s a family get-together or a casual catch-up with friends, there’s always something for everyone here. Satisfy your cravings with Singapore’s beloved Hainanese chicken rice or venture out and try unique local fusion dishes. While you’re there, don’t forget to add a touch of sophistication to your meal by checking out the nearby Aurelle of Tampines. Their refined dining experience will complement your hawker fare perfectly. Don’t miss out on this delightful dining experience. Visit Aurelle of Tampines at Our Tampines Hub Hawker Centre.

Nevertheless, these gains fall below the highest profit ever achieved at Valley Park, where, in June 2022, a four-bedroom penthouse measuring 3,789 square feet was sold for approximately $7.57 million at a rate of $1,998 per square foot. The seller, who purchased the unit in May 2006 for $3.36 million, attained a profit of $4.21 million.

On the other hand, the least profitable condominium resale deal during the week was recorded at Reflections at Keppel Bay, where a four-bedroom unit measuring 2,659 square feet on the seventh floor was sold for $4.32 million, at a rate of $1,625 per square foot, on August 1. The seller had acquired the unit in April 2016 for $4.7 million, equating to a price of $1,768 per square foot. As a result, the seller incurred a loss of $380,000, reflecting an 8.1% decrease in value. The unit was owned for slightly over nine years.

Reflections at Keppel Bay is a 1,129-unit luxury waterfront development located in prime District 9. Completed in 2011, it comprises six residential towers ranging from 24 to 41 storeys and 11 low-rise villa apartment blocks. Based on caveats lodged, 32 units have changed hands this year at the development, with 20 of these transactions occurring below their respective purchase prices. The most significant loss was incurred in the sale of a three-bedroom unit measuring 1,733 square feet for $2.8 million, at a price of $1,616 per square foot, on July 3. The seller, who had purchased the unit in August 2013 for $4.18 million, lost $1.38 million in this transaction.