Four Bedder Sovereign Nets 35 Mil Profit

The most profitable condo resale transaction during the week of July 22 to 29 was the sale of a 2,637 sq ft unit at The Sovereign. The four-bedroom unit on the 16th floor was sold for $6.5 million ($2,465 psf), resulting in a profit of $3.5 million (116.7%) for the seller. The unit was previously purchased in February 2007 for around $3 million ($1,138 psf), translating to an annualised profit of 4.3% over more than 18 years.This latest transaction is the fifth most profitable deal to date at The Sovereign, falling about $804,100 short of the development’s record gain of $4.3 million. The record was set in a similar four-bedroom unit on the fourth floor, which transacted for $6.15 million ($2,332 psf) on July 14. The seller, who bought the unit for around $1.85 million ($700 psf) in April 2005, earned an annualised profit of 6.1% over more than 20 years.Completed in 1993, The Sovereign is a freehold development located on Meyer Road in District 15. It consists of a single-tower with 87 residential units, including four-bedroom units ranging from 2,637 to 3,305 sq ft. The development boasts a prime location within walking distance of Tanjong Katong MRT Station on the Thomson-East Coast Line.In addition to the transactions on July 14 and July 24, The Sovereign has also seen another profitable resale in 2025. On May 22, a 3,305 sq ft unit was sold for $7.7 million ($2,330 psf), resulting in a gain of $3.3 million for the seller. The unit was purchased in December 2007 for around $4.4 million ($1,331 psf).The second most profitable condo resale transaction during the week took place at Waterfall Gardens when a 4,036 sq ft penthouse unit on the 11th floor was sold for $8.08 million ($2,002 psf) on July 28. The seller, who bought the unit from the developer in February 2007 for around $6.22 million ($1,542 psf), earned a gain of $1.86 million (29.9%) after holding the unit for more than 18 years.This marks the most profitable resale deal recorded at Waterfall Gardens, surpassing the development’s previous record gain of $1.57 million. The record was set in the sale of another 4,037 sq ft penthouse unit on the 11th floor for around $7.38 million ($1,828 psf) in June 2007. The seller had bought the unit in February 2007 for about $5.81 million ($1,440 psf), recording an annualised profit of 98.8% after owning the unit for less than a year.Waterfall Gardens is a freehold condo situated along Farrer Road in prime District 10. Completed in 2010, it comprises 132 residences across three 12-storey towers, offering a mix of three- and four-bedroom apartments ranging from 1,829 to 2,583 sq ft. The development also features 12 penthouse units spanning from 3,380 to 4,844 sq ft.On the other hand, the most unprofitable condo resale transaction during the week occurred at Devonshire Residences. A 947 sq ft, one-bedroom unit was sold for $1.55 million ($1,636 psf) on July 22, resulting in a loss of $912,200 (37%) for the seller. The unit had been purchased for around $2.46 million ($2,599 psf) in April 2011, representing an annualised loss of 1.6% after holding the unit for slightly more than 14 years.This is a record loss incurred on a unit at Devonshire Residences to date, surpassing the previous record of $240,500 from the sale of a 495 sq ft, one-bedroom unit for $999,900 ($2,020 psf) in September 2024. The unit had been bought in April 2011 for around $1.24 million ($2,505 psf), resulting in an annualised loss of 1.6% after more than 13 years.Devonshire Residences is a freehold development completed in 2015, situated along Devonshire Road in prime District 9. It comprises 85 units, including one-bedroom apartments ranging from 495 to 829 sq ft. The development also features one-bedroom penthouse units spanning from 818 to 1,055 sq ft.

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