According to the latest property news from EdgeProp Singapore (last updated in October 2020), a condo resale at Belmond Green was concluded with a transaction price of $2.1 million, or $1,657 psf. This earned the seller a sizeable profit of $1.2 million, becoming one of the most profitable resales in the week of September 29 to October 6. Read more below about which real estate transactions yielded the highest profits in the property market during the same week.
The most profitable resale for the week took place in Elizabeth Heights. The condo for sale was a four-bedroom unit located on the fourth floor of the condominium and had a floor size of 2,530 sq ft. It changed hands on October 2 for a total price of $4.45 million or $1,759 psf. More than two decades ago, the seller bought the unit for a lower cost of $1.73 million or $684 psf. This meant that the recent resale made a top gain of $2.7 million or 157%. This translates to an annualized profit of 4.5% over its 21-year holding period.
Elizabeth Heights is a freehold property completed in 1983 by Victory Realty. The condominium consists of 90 units spread across 16-storey residential blocks. Located along Cairnhill Road in District 9, it is close to the Newton Food Center and Orchard Road. It’s also located nearby the Newton MRT Station on the North-South and Downtown Lines.
The transaction of a three-bedroom unit in Belmond Green was the second most profitable resale for the week. The unit is sized at 1,270 sq ft and is located on the ground floor of the condominium. On October 5 of this week, the seller gave the unit away for a transaction price of $2.1 million or $1,657 psf. This is more than twice the unit’s original price, being a property investment that was previously purchased from the developer in May 2004 for only $887,000 or $690 psf. This meant that the seller pocketed a 140% profit of $1.23 million. This translates to a 5.4% yearly profit over its 16-year holding period when annualized.
Belmond Green is a freehold property developed by CapitaLand Limited and was completed in 2004. It consists of 211 condo units measuring 958 sq ft to 2,411 sq ft. The 12-storey luxury property is located in the exclusive neighbourhood of Balmoral Road in District 10. Some important landmarks near it include Orchard Road and Balmoral Plaza. Additionally, it’s located near the Newton MRT Station on the North-South and Downtown Lines.
The third most profitable resale was traced to Laguna Park, located along Marine Parade Road in District 15. A 1,453 sq ft unit changed hands for a total transaction price of $1.34 million or $929 psf. This meant that the seller earned a total profit of $948,000.
Laguna Park is a 99-year leasehold condominium that was completed in 1978. It’s a large-scale development that consists of 516 units in total. It’s located near notable educational institutions such as Sekolah Indonesia, Rosemount International School, and St. Stephen’s School. The condominium is also accessible via Bedok MRT Station.
The Metropolitan Condominium
Another profitable transaction this week was from The Metropolitan Condominium, becoming the fourth-highest in profit. A 1,453 sq ft condo unit fetched a similar price of $1.34 million or $929 psf. Earnings from this resale totalled $918,000.
The Metropolitan Condominium is a 99-year leasehold property recently completed in 2009 by CapitaLand Limited. The development consists of 382 units spread across two 45-storey towers. Located along Alexandra View, it sits between Alexandra Road and Tiong Bahru Road. Additionally, it’s conveniently located near the Redhill MRT Station.
The fifth most profitable resale came from Trellis Towers, a condominium located at Toa Payoh Lorong, District 12. A 1,485 sq ft unit was resold for $2.2 million or $1,508 psf. This meant that the total profit yield was $909,170.
Trellis Towers is a freehold property completed in 2000 by City Development Limited. It’s comprised of 384 units spread across 30-storey residential blocks. It’s located within a seven-minute walking distance from Toa Payoh MRT Station.
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