Read recommended post: The Nassim made the top gain for a sold unit which reaps $2.6 mil profit
A 2,885 square feet, four-bedroom apartment in Ardmore Park was the most profitable resale purchase between November 9 to 23. The top floor luxury apartment located on the 23rd floor purchased at $11 million ($3,813 per square foot) on November 17. The unit was bought at $4.28 million ($1,482 per sq ft) back in April of 1999. The seller made a profit of $6.73 millions (157%), which is equivalent to an annualized income that was 4.3% over nearly 23 years.
This is the highest-profit deal for resales for Ardmore Park so far this year. The luxury condo has had 12 resales over the last 11 months and only one of them was not profitable.
Four resales transactions that took place in Ardmore Park this year now are among the top in terms of the highest prices for psf for a unit in the park. The record stands at 2,885 sq ft apartment which was sold for $11.3 million ($3,917 per sq ft) on the 28th of October. It was followed by a purchase of a resale on the 17th of November. The unit sold at $10.8 million ($3,744 per psf) on August 6. A third unit was purchased at $10.75 million ($3,726 per sf) on October 4.
Ardmore Park is a luxury freehold condo located in District 10’s most sought-after District 10. The development consists of three 30-story towers that were completed in 2001. The development has 330 four bedroom homes with a total area of 2,885 square feet as well as six penthouses duplex with 8,740 square feet.
The second highest gain of the time of review was a 2,217 sq . ft unit in Morimasa Gardens Freehold development located on Gilstead Road in prime District 11. The property sold for $3.7 million ($1,669 per sq ft) at the time of its sale on November 23 the same day, after it was bought at $1.11 million ($501 per sq ft) during February of 2004. This means that the seller earned the seller a profit that was $2.59 millions (233%), which is equivalent to an annualized income of seven% over the span of 18 years.
This is the highest-profit sale of a resale in Morimasa Gardens. It is more profitable than the previous record set by selling a 1 873 square foot unit at $2.88 million ($1,548 per square foot) on the 17th of September the 17th of September, 2019. The unit was purchased at $1.06 million ($566 per square foot) on September 5, 2005. In the end, the seller made $1.84 million (173%), which amounts to an annualised gain that was 7.4% over 14 years.
However, the least profitable resale deal during the two weeks consisted of an eight07 square foot unit in The Boutiq. The one-bedroom unit sold for $1.49 million ($1,858 per sq ft) on the 11th of November after being purchased at $1.92 million (2,386 per square foot) in August of 2011. The seller suffered losses of around 4266,000 (23%), which amounts to an annualized loss of 2% over the course of 10 years.
The latest resale deal is also the most profitable deal ever made at The Boutiq. The previous record loss was the sale of an 861 sq ft one-bedder which was sold at $1.65 million ($1,916 per square foot) in April 2016 following its purchase at $2.02 million ($2,346 per sq ft) in June of 2011. The seller lost in the amount of 370,230 (18%), which is equivalent to an annualized loss of 4% over the course of five years.
It is Boutiq The Boutiq freehold condominium on the 145 Killiney Road in prime District 9. The 130-unit condo is 10 floors of residential space that was completed in the year 2014. The mix of units comprises one- and two-bedroom apartments with 506 sq feet to 883 sq ft plus eight penthouses that range from 1,173 sq feet to 2,293 sq feet.