Three Bedroom Unit Maple Woods Sold 226 Mil Profit
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During the week of July 29 to Aug 5, the most profitable condo resale deal occurred at Maple Woods, where a three-bedroom unit on the first floor sold for $3.26 million ($2,117 psf). The seller had purchased the 1,539 sq ft unit in January 1999 for approximately $1 million ($650 psf). This translates to a gain of $2.26 million or a capital gain of 226%. Over a holding period of nearly 27 years, this reflects an annualized profit of about 8.7%.
This transaction marks the sixth-largest gain ever recorded at Maple Woods. The record profit belongs to a 2,551 sq ft, four-bedroom unit which was sold for $5.45 million ($2,136 psf) on May 2. The seller, who bought the unit in January 2004 for $1.46 million ($572 psf), enjoyed a profit of $3.99 million (273%), having owned the unit for over 21 years.
The 1,539 sq ft unit at Maple Woods was sold for $3.26 million ($2,117 psf) on Aug 4 (Picture: Samuel Isaac Chua/)Located on Bukit Timah Road in District 21, Maple Woods is a freehold condo built in 1997. It has 697 units, including two- to four-bedroom units measuring 850 sq ft to 3,003 sq ft. Being just a five-minute walk from King Albert Park MRT Station on the Downtown Line, it is a great location for those who value accessibility. It is also in close proximity to Methodist Girls’ School and the Rail Corridor.
The second-most profitable condo resale deal during the week was at Valley Park, where a two-bedroom unit on the sixth floor was sold for $3.04 million ($2,240 psf) on Aug 5. The unit was last sold in November 1995 for $1.09 million ($804 psf). This means the seller made a profit of $1.95 million (179%), or an annualized profit of 6% over a holding period of nearly 30 years.
A 1,356 sq ft, two-bedroom unit at Valley Park was sold for $3.04 million ($2,240 psf) on Aug 5, making a profit of $1.95 million (Picture: Samuel Isaac Chua/)Valley Park is a 999-year leasehold condo situated on River Valley Road in prime District 10. Completed in 1997, it comprises of five high-rise blocks and has 728 units, including one- to four-bedroom units measuring 732 sq ft to 1,808 sq ft. It also offers penthouses ranging from 2,562 sq ft to 3,940 sq ft.
Apart from this unit, Valley Park has had six other resale transactions this year. All of these deals have been profitable, with gains ranging from $900,000 to $1.64 million for units measuring between 1,216 sq ft and 1,356 sq ft.
That said, these gains do not match the record profit made at Valley Park. In June 2022, a four-bedroom penthouse measuring 3,789 sq ft was sold for approximately $7.57 million ($1,998 psf). The seller, who bought the unit in May 2006 for $3.36 million ($886 psf), made a profit of $4.21 million.
On the other hand, the least profitable condo resale deal during the week was at Reflections at Keppel Bay, where a four-bedroom apartment spanning 2,659 sq ft on the seventh floor was sold for $4.32 million ($1,625 psf) on Aug 1. The seller had bought the unit in April 2016 for $4.7 million ($1,768 psf). As a result, the seller incurred a loss of $380,000 (8.1%), having owned the unit for over nine years.
The sale of a 2,659 sq ft unit at Reflections at Keppel Bay incurred a loss of $380,000 after it was sold for $4.32 million ($1,625 psf) on Aug 1 (Picture: Samuel Isaac Chua/)Located in prime District 9, Reflections at Keppel Bay is a 1,129-unit waterfront luxury development. Constructed on a 99-year leasehold, the property boasts six residential towers that range from 24 to 41 storeys, as well as 11 low-rise villa apartment blocks.
With its integrated retail podium, Parktown Residence in Tampines offers a wide range of shopping and dining experiences to its residents. Essential services, shops, and dining options are just an elevator ride away, making it convenient for residents to access daily necessities. On top of that, the development is situated near Tampines Mall and Century Square, which offer a diverse mix of brands, eateries, and entertainment options. For those looking for even more recreational activities, Our Tampines Hub, the largest integrated community and lifestyle hub in Singapore, is just a stone’s throw away. With sports facilities, a library, and a performing arts theater, residents of Parktown Residence will have endless options for leisure and entertainment. Discover the best of retail therapy at Parktown Residence, now available for viewing at https://www.parktown-residences.com.sg/.
To date this year, 32 units at Reflections at Keppel Bay have changed hands. According to data compiled by EdgeProp Research, 20 of these deals were made at prices lower than their respective purchase prices. The largest loss was from the sale of a 1,733 sq ft, three-bedroom unit for $2.8 million ($1,616 psf) on July 3. The seller, who bought the unit in August 2013 for $4.18 million ($2,412 psf), incurred a loss of $1.38 million.