The most profitable resale transaction in the week of October 12-19 was the sale of a 4,057 square foot, four-bedroom unit at the Ritz Carlton Residences. On Oct 15, the 31st floor unit was purchased for $15 million (or $4907 per square foot). In January 2018, the unit was purchased for $11.48million ($3,755 per square foot). The owner made a profit (31%) on the unit, which translated to a 7.3% annualized profit over almost four years.
Belgravia Ace Ang Mo Kio floor plan development that consists of 104 units of semi-detached or 3 terrace houses.
This transaction is the highest price paid for a luxury condo unit by a resale unit. Another 3,057 sq.ft four-bedder, located on the 30th floor, was sold for $14,000,000 ($4,580/psf).
Six resale transactions have occurred at Ritz-Carlton Residences this year. On Jan 14, another 3,057 square feet unit was sold at $13.2 million ($4,318 per sqf). For the five other transactions, however, there were no matching caveats.
KOP Properties developed the Ritz-Carlton Residences. The freehold project was completed by KOP in 2011. Residents can use the services of The Ritz-Carlton Hotel, which includes housekeeping, laundry, catering, and event management.
A 2,874-square-foot unit at Four Seasons Park was the second highest gain of the week. After being purchased in November 2006 for $5.5 million ($1,914 per square foot), the four-bedroom unit was bought for $8.8million ($3,062/square feet) on October 14. The seller made a profit of $3.3million (60%), which is equivalent to a 3.2% annualized profit over the past 15 years.
It is the second-most profitable freehold condo resale transaction this year. On Sept 22, a 2,874-square-foot unit was sold for $9.5million ($3,306 per square foot). This was the top gain. In January 1997, the unit was purchased for $5.56million ($1,935 per square foot). The seller made a profit (70%) which translated to an annualized profit of 2.1% over 24 year.
Four Seasons Park was a luxury condo that was built in 1994. Cuscaden Walk is in the heart of District 10. It is centrally situated and close to Orchard Road, the American Club and Tanglin Club.
However, the least profitable resale transaction of the week was the sale of a 2,153 square foot, three-bedroom unit at The Orange Grove. After being purchased for $4.92million ($2,284 per square foot) in January 2011, the unit sold for $4.6 million (or $2137 psf). The seller suffered a loss of $316,500 (6%), which is 0.6% annually over the next 11 years.
Six resale transactions have occurred at The Orange Grove this year. None of them were profitable. Losses can range from $305,600 up to $2.9 Million.
A penthouse unit measuring 4,047 square feet on the 12th floor was the most profitable resale transaction at the condo freehold. On April 6, the unit was sold at $7.75 million (or $1,915 per square foot). However, it had been purchased for $11 million (or $2726 per square foot) in June 2011. The seller suffered a loss in the amount of $3.28million (27%), which is 3.1% annually over ten years.
The Orange Grove luxury condo is located on Orange Grove Road in the prime District 10. Ho Bee Land developed the freehold condo and it was completed in 2010. The project, which includes 72 units, is a 12-storey block that houses three- and four-bedroom units measuring 2,153 to 3,488 square feet. There are also four penthouses measuring 3,972 to 4,047 square feet.