Ardmore Park Resale Deals Rake Top Profits 2024

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after 27 years of ownershipName*Email*Comment*3 CommentsPlease rewrite the attached article.Residents of Ardmore Park, a luxury condo situated in the prestigious Ardmore-Draycott enclave in prime District 10, have reason to celebrate as 2024 saw some of the biggest gains from resale transactions in the area. The freehold development accounted for three of the top four most profitable condo resale deals that took place this year between January 1 and December 10, according to caveats lodged with URA as of December 17.The most lucrative deal involved the sale of a four-bedroom unit measuring 2,885 sq ft on the 26th floor of Ardmore Park for $12.9 million ($4,472 psf) on February 16. The unit was originally purchased from the developer in July 1996 for $5.83 million ($2,022 psf), resulting in a profit of $7.07 million, or a staggering 121% gain after a holding period of about 27 and a half years.Another impressive gain was seen in July, when a four-bedroom unit on the 18th floor of Ardmore Park was sold for $12 million ($4,160 psf). The seller had bought the unit in December 2000 through a sub-sale transaction for $5.2 million ($1,803 psf), bringing in a profit of $6.8 million, or a capital gain of 131%, after owning the unit for around 23 and a half years.A third 2,885 sq ft four-bedroom unit at Ardmore Park recorded the fourth-largest profit this year, selling for $12.5 million ($4,333 psf) on April 22. The seller had purchased the unit in February 2007 for $6 million ($2,080 psf), making a profit of $6.5 million (108%) after owning the unit for over 17 years.Ardmore Park, a freehold condo with 330 units located in the highly desirable District 10, has consistently seen significant gains from its resale deals in recent years. In 2024, three other units at the condo – all 2,885 sq ft four-bedders – were sold, with the sellers earning profits of $2.65 million, $3 million, and $3.05 million respectively. In the previous year, four resale transactions took place at Ardmore Park, with the sellers making profits ranging from $2.8 million to $8.16 million.Apart from Ardmore Park, the list of top gains this year was dominated by other mature freehold condos in District 10. The fifth-most profitable resale transaction took place at Beverly Hill, an 86-unit boutique condo located on Grange Road that was built in 1983. On July 15, a four-bedroom unit measuring 3,778 sq ft on the fifth floor was sold for $9.15 million ($2,422 psf). This meant that the seller made a profit of $5.47 million (149%).Other freehold condos in District 10 which registered top profitable deals include Astrid Meadows, a 208-unit development on Coronation Road West; Regency Park, a 292-unit condo on Nathan Road; Fontana Heights, a 52-unit condo on Mount Sinai Rise; and Wing On Life Garden, an 81-unit condo on Bukit Timah Road. These condos, which were completed between 1982 and 1990, are all over 30 years old.Two of the top ten gains this year came from older freehold condos in District 9. The third-highest profit was seen from the sale of a four-bedroom unit measuring 3,434 sq ft at Yong An Park, situated on River Valley Road. The unit was sold for $8.6 million ($2,505 psf) on August 12, netting a profit of $6.72 million. Meanwhile, a 3,057 sq ft unit at The Ritz-Carlton Residences Singapore Cairnhill was sold for $16.5 million ($5,397 psf) on January 9, bringing in a profit of $4.89 million.The trends were different when it came to the 10 least profitable condo resale transactions this year. Almost half of these involved condos located in Sentosa Cove. The most unprofitable deal took place at Marina Collection, a 124-unit condo situated on Cove Drive, where a five-bedroom duplex penthouse measuring 3,789 sq ft was sold for $6.7 million ($1,768 psf) on July 22. The unit had been purchased by the seller in March 2010 for $9.39 million ($2,479 psf), resulting in a loss of $2.69 million (29%).Similarly, at Seascape, located on Cove Way, the sale of a 2,680 sq ft four-bedroom unit on the sixth floor for $4.5 million ($1,679 psf) on August 14 incurred a loss of $2.53 million (36%). The unit had been bought by the seller from the developer in October 2010 for $7.03 million ($2,623 psf). Overall, the resale transactions at condos located in Sentosa Cove consistently saw losses this year.