Maple Woods condo unit, a freehold property located in prime District 10, has recorded the most profitable resale transaction during the week of November 12 to 19. The 1,539 sq ft unit on the first floor was sold for $3.3 million ($2,144 psf) on November 15. The seller had purchased the unit in April 2009 for $1.28 million ($830 psf), making a profit of $2.02 million. This translates to a capital gain of 158% or an annualized profit of 10.6% over a holding period of about 15½ years.
Maple Woods is a popular condo development with 697 units ranging from two to four bedrooms and sizes from 850 sq ft to 3,003 sq ft. It is situated along Bukit Timah Road and is a short walk from King Albert Park MRT Station. It is also near renowned schools like Methodist Girls’ School and the Rail Corridor.
In total, there have been 10 other resale transactions at Maple Woods this year, all of which were profitable deals. Three units were sold for over $2 million in profits. The first was a 1,787 sq ft, three-bedroom unit on the eighth floor that was sold for $3.75 million ($2,099 psf), giving the seller a profit of $2.15 million. They had bought the unit in July 1997 for $1.6 million ($895 psf).
The second unit was a 1,787 sq ft, three-bedroom unit that was sold for $3.82 million ($2,138 psf) on September 10. The seller, who had purchased the unit in March 2007 for $1.35 million ($756 psf), made a profit of $2.47 million. The third deal also took place on September 10, where a 3,003 sq ft, four-bedroom unit on the eighth floor was sold for $5 million ($1,665 psf). The seller, who bought the unit in September 1998 for $2.4 million ($798 psf), made a profit of $2.6 million.
UE Square, a mixed-use development located in District 9, recorded the second most profitable condo resale deal during the week. A three-bedroom unit measuring 1,528 sq ft on the seventh floor was sold for $2.95 million ($1,930 psf) on November 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 has 345 residences consisting of one- to five-bedders and penthouses, ranging from 506 sq ft to 2,379 sq ft. It is close to the Fort Canning MRT Station and commercial establishments along Clemenceau Avenue.
On the other hand, the most unprofitable condo resale deal during the week was the sale of a three-bedroom unit at Tomlinson Heights for $8.25 million ($3,006 psf) on November 19. The seller had purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf), incurring a loss of about $601,000 (6.8%) after owning the unit for almost 14 years.
Tomlinson Heights is a luxury condo development with 70 units, located off Orchard Boulevard. Completed in 2014, it boasts a mix of three- and five-bedroom units ranging from 2,551 sq ft to 6,738 sq ft. The unit sold on November 19 is the first resale transaction at Tomlinson Heights since January 5, 2023, when another 2,745 sq ft unit was sold for $10.5 million ($3,825 psf). The seller, who had bought the unit from the developer in May 2011 for $8.38 million ($3,053 psf), made a profit of $2.12 million.
Rewritten: Singapore’s cityscape is defined by towering skyscrapers and contemporary infrastructure. Condominiums, situated in desirable locations, offer a harmonious combination of extravagance and accessibility, appealing to both locals and foreigners. These residences boast an array of facilities, including pools, fitness centers, and security services, elevating the standard of living and making them an alluring choice for potential renters and buyers. For investors, these attractive features result in greater returns on rental income and appreciation of property values in the long run. With the addition of Singapore Condo, these properties become even more appealing.