Four Bedder Skyeleven Sold 31 Mil Profit
During the week of June 11-18, the most lucrative resale transaction for a condo took place at Sky@Eleven, with a four-bedroom, 2,820 sq ft unit on the 14th floor selling for $5.9 million ($2,092 psf) on June 12. The seller bought the unit from the developer for $2.8 million ($994 psf) in March 2007, resulting in a profit of $3.1 million and a capital gain of 111% after owning the unit for over 17 years. This sale now stands as the second most profitable transaction recorded at Sky@Eleven, following closely behind a sale that took place just two months earlier in April. This earlier sale saw a four-bedder measuring 2,713 sq ft being sold for $6.48 million ($2,389 psf), with the seller walking away with a profit of $3.68 million. They had initially purchased the unit in March 2007 for $2.8 million ($1,031 psf).
Located on Thomson Lane in Toa Payoh, District 11, Sky@Eleven is a freehold condominium that was finished in 2010. It has a total of 273 units spread across 42 floors, including three-bedroom-plus-study units of 1,851 sq ft, and four-bedroom units ranging from 2,271 to 2,820 sq ft. There are also four- and five-bedroom duplex penthouses that range from 3,757 to 5,597 sq ft.
The second most profitable transaction during this period took place at Viz At Holland, where a three-bedroom unit of 1,927 sq ft was sold for $2.9 million ($1,505 psf) on June 13. The seller had purchased the unit from the developer in January 2006 for $998,000 ($518 psf), resulting in a profit of $1.9 million after owning the unit for nearly 18 and a half years. This translates to a capital gain of 191% for the seller.
This sale now stands as the second most profitable transaction at Viz At Holland, with the highest profit recorded being from the resale of a five-bedroom, 2,519 sq ft penthouse for $4.15 million ($1,648 psf) in March 2023. The unit had previously changed hands for $1.95 million ($774 psf) in December 2006, resulting in a profit of $2.2 million for the seller.
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Viz At Holland is a freehold condo located in prime District 10, along Queensway, off Holland Road. Completed in 2008, the development has 165 units across 12 storeys, offering one- to five-bedroom units and penthouses ranging from 495 sq ft to 2,648 sq ft.
At the same time, the most unprofitable resale transaction recorded during this period was the sale of a 1,399 sq ft, three-bedroom unit at OUE Twin Peaks. The unit was sold for $3.3 million ($2,380 psf) on June 13, resulting in a loss of $1.11 million (25%) after a holding period of almost 14 years. This is the highest loss recorded for a resale unit at OUE Twin Peaks, surpassing the previous record loss of $1 million from the sale of a 1,604 sq ft, three-bedroom unit for $3.5 million ($2,182 psf) in August 2016.
OUE Twin Peaks is a 99-year leasehold condo located at 33 Leonie Hill Road, near Orchard Road in prime District 9. Completed in 2015, the development has 462 units spread across two 35-storey towers, offering one- to four-bedroom units ranging from 549 to 1,895 sq ft.
Additionally, the second most unprofitable resale transaction during this period took place at OUE Twin Peaks as well, with a one-bedroom unit of 570 sq ft being sold for $1.3 million ($2,279 psf) on June 12. The seller incurred a loss of nearly $300,000, having purchased the unit for $1.6 million ($2,803 psf) in May 2016.