During the week of Nov 12 to 19, the sale of a three-bedroom unit at Maple Woods proved to be the most profitable condo resale transaction. This impressive unit, located on the first floor, measures at 1,539 sq ft and was sold for $3.3 million ($2,144 psf) on Nov 15. The seller had previously bought the unit in April 2009 for $1.28 million ($830 psf), making a significant profit of $2.02 million. This equates to a capital gain of 158% for the seller, or an annualized profit of 10.6% over a holding period of approximately 15 and a half years.
Maple Woods is a freehold condo situated on Bukit Timah Road in prime District 10. Constructed in 1997, this development boasts 697 residences ranging from two to four bedrooms and measures from 850 sq ft to 3,003 sq ft. It is conveniently located within a five-minute walk to King Albert Park MRT Station on the Downtown Line and is also in close proximity to the esteemed Methodist Girls’ School and the Rail Corridor. This year alone, there have been 10 other resale transactions at Maple Woods, all of which were profitable deals with the sellers earning at least $425,000. Three of these transactions resulted in profits of over $2 million.
The cityscape of Singapore is characterized by modern skyscrapers and advanced infrastructure. Condominiums, strategically situated in desirable locations, offer a fusion of opulence and practicality that appeals to locals and foreigners alike. These residential complexes are furnished with a variety of facilities, including swimming pools, fitness centers, and security services, all aimed at enhancing the overall living experience and drawing in prospective renters and buyers. For those looking to invest, these perks translate into higher rental returns and appreciating property values in the long run.
Add Condo
One of the most lucrative transactions at Maple Woods this year was for a 1,787 sq ft, three-bedroom unit on the eighth floor that was sold for $3.75 million ($2,099 psf) on Sept 10. The seller made a hefty profit of $2.15 million after purchasing the unit in July 1997 for $1.6 million ($895 psf). Another profitable deal was for a 1,787 sq ft, three-bedroom unit that was sold for $3.82 million ($2,138 psf) on the same day. The seller, who bought the unit in March 2007 for $1.35 million ($756 psf), made a tremendous profit of $2.47 million. The third unit, a 3,003 sq ft, four-bedroom unit on the eighth floor, also yielded a substantial profit for the seller. It was sold for $5 million ($1,665 psf) on Sept 10, with the seller making a gain of $2.6 million after purchasing the unit in September 1998 for $2.4 million ($798 psf).
The second most profitable condo resale transaction during the week occurred at UE Square. A three-bedroom unit measuring 1,528 sq ft on the seventh floor fetched $2.95 million ($1,930 psf) on Nov 14. The seller had acquired the unit through a sub-sale in December 1997 for $1.3 million ($850 psf), resulting in a profit of $1.65 million (127%) after owning the unit for nearly 27 years.
UE Square is part of UE BizHub City, a mixed-use development along Clemenceau Avenue in District 9, close to Clarke Quay. It comprises an 18-storey office building with a four-storey shopping podium and a pair of 18-storey residential blocks that house 345 units. This development has a mixture of one- to five-bedrooms ranging from 506 sq ft to 2,379 sq ft, as well as penthouses measuring 3,089 sq ft. The Fort Canning MRT Station on the Downtown Line is also conveniently located close by.
On the other hand, the most unprofitable condo resale transaction during the week was the sale of a three-bedroom unit at Tomlinson Heights. The 2,745 sq ft unit on the 19th floor changed hands for $8.25 million ($3,006 psf) on Nov 19. The seller had purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf), incurring a loss of $601,000 (6.8%) after owning the unit for almost 14 years.
Tomlinson Heights is a luxury 70-unit condo located near Orchard Boulevard, consisting of a 36-storey tower with three- and five-bedroom units measuring from 2,551 sq ft to 6,738 sq ft. Completed in 2014, this freehold development is in close proximity to popular malls on Orchard Road. The unit sold on Nov 19 is the first recorded transaction at Tomlinson Heights since Jan 5, 2023, when another 2,745 sq ft unit was sold for $10.5 million ($3,825 psf). The seller, who bought the unit from the developer in May 2011 for $8.38 million ($3,053 psf), made a profit of $2.12 million.