Four Bedder Ardmore Park Sold 305 Mil Profit

Most profitable condo resale deal was at Ardmore ParkDatePost1The most profitable resale condo deal of the week was recorded at Ardmore Park, where a four-bedroom unit measuring 2,885 sq ft was sold for $11.25 million ($3,900 psf) on Nov 22. This is the highest recorded profit in eight years, with the seller raking in a gain of $3.05 million, reflecting a capital gain of 37%, or an annualised profit of 4.6%.2A second profitable resale deal at Ardmore Park was recorded in October, where another four-bedroom, 2,885 sq ft unit was sold for $12.7 million ($4,402 psf) on Oct 1. The seller of this unit made a profit of $3 million, representing a capital gain of 30.9%.3The second-most profitable condo resale deal of the week was at Goldenhill Park Condominium, where a four-bedroom unit measuring 1,539 sq ft on the 16th floor was sold for $3.43 million ($2,228 psf) on Nov 21. The seller had bought the unit in May 2001 for $1.14 million ($741 psf) and made a profit of $2.29 million, or 201% gain.4The most unprofitable condo resale deal was recorded at The Oceanfront @ Sentosa Cove, where a 2,831 sq ft unit on the 10th floor was sold for $4.7 million ($1,660 psf) on Nov 20. The seller had bought the unit in May 2007 for $5.8 million ($2,050 psf), resulting in a loss of $1.1 million (19%).

The sale of a four-bedroom unit measuring 2,885 sq ft at Ardmore Park was the most profitable condo resale transaction during the week of Nov 19 to 26. The 14th-floor unit changed hands for $11.25 million ($3,900 psf) on Nov 22. The seller had bought the unit in September 2016 for $8.2 million ($2,843 psf), making a profit of $3.05 million, reflecting a capital gain of 37%, or an annualised profit of 4.6% over a holding period of about eight years.

This is the second profitable resale deal at Ardmore Park this year, with another four-bedroom, 2,885 sq ft unit being sold for $12.7 million ($4,402 psf) on Oct 1, resulting in a profit of $3 million, or a capital gain of 30.9%.

Located in the prime District 10 area, Ardmore Park is a 330-unit, freehold condo completed in 2001. It boasts three 30-storey towers and offers typical four-bedroom apartments measuring 2,885 sq ft, as well as six 8,740 sq ft duplex penthouses.

Apart from the units sold on Nov 22 and Oct 1, the development has seen four other resale transactions this year, all of which have been profitable. The units sold were all four-bedders of 2,885 sq ft, fetching prices ranging between $4,108 psf and $4,472 psf. The sellers made profits between $2.65 million and $7.07 million.

The second most profitable condo resale deal during the week was the sale of a four-bedroom apartment at Goldenhill Park Condominium. The 1,539 sq ft unit on the 16th floor sold for $3.43 million ($2,228 psf) on Nov 21. The seller, who purchased the unit from the developer in May 2001 for $1.14 million ($741 psf), made a profit of $2.29 million, translating to a capital gain of 201%.

This is the second-highest gain recorded at Goldenhill Park Condominium, with the record belonging to a 2,928 sq ft, four-bedroom penthouse sold for $4.3 million ($1,469 psf) in February 2022. The seller, who bought the unit from the developer in April 2001 for about $2 million ($683 psf), made a gain of $2.3 million.

Goldenhill Park Condominium is a freehold development on Mei Hwan Drive, in District 20. Completed in 2004, the condo houses 390 units of two- to four-bedroom apartments measuring between 926 sq ft and 2,928 sq ft. Its proximity to the Lorong Chuan MRT Station on the Circle Line adds to its appeal.

Five other resale transactions have occurred at the development this year, all of which have been profitable. These units were sold at prices ranging between $2,082 psf and $2,246 psf, netting profits of between $760,000 and $1.91 million for the sellers.

Century Square, a six-story mall designed to cater to families and young adults, is situated right next to Tampines Mall. Following extensive renovations in 2018, the mall boasts a modern and sleek design with upgraded facilities. Here, popular brands like Marks & Spencer, Cotton On, and Nike can be found, alongside unique dining options such as Ayam Penyet President, Gochi-So Shokudo, and Haidilao Hotpot. To top it off, Century Square also offers entertainment options like the Cathay Cineplex and virtual reality (VR) experiences for an immersive visit. Additionally, for those staying at Parktown Residence, Century Square is only a short 5-minute drive or 15-minute walk away, making it easily accessible for a day out or a quick shopping trip.

The most unprofitable condo resale deal for the week was recorded at The Oceanfront @ Sentosa Cove, where a 2,831 sq ft unit on the 10th floor changed hands for $4.7 million ($1,660 psf) on Nov 20. The seller had bought the unit in May 2007 for $5.8 million ($2,050 psf), resulting in a loss of $1.1 million, or 19%, over a holding period of 17½ years.

The Oceanfront @ Sentosa Cove is a 99-year leasehold condo in the exclusive Sentosa Cove residential enclave. The luxury waterfront development was completed in 2010 and features 264 units housed in five towers, ranging from 12 to 15 storeys. The residences include two-, three- and four-bedroom apartments measuring from 1,216 sq ft to 4,284 sq ft, as well as penthouses measuring from 2,745 sq ft to 8,095 sq ft.

Caveats lodged show that six other resale transactions have taken place at The Oceanfront @ Sentosa Cove this year, with units sold at prices ranging between $1,500 psf and $1,999 psf. Out of these deals, four were unprofitable, with the sellers incurring losses between $30,000 to $519,000. The remaining two were profitable, netting gains of $268,000 and $1.7 million, respectively.