During the week of November 12 to 19, the most profitable condo resale transaction took place at Maple Woods, where a three-bedroom unit was sold for $3.3 million. This unit, situated on the first floor and spanning 1,539 sq ft, was sold for $2,144 psf on November 15. The seller had purchased the unit in April 2009 for $1.28 million ($830 psf), resulting in a profit of $2.02 million. This translates to a capital gain of 158% for the seller or an annualised 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. Built in 1997, it comprises 697 units ranging from two to four-bedders, measuring between 850 sq ft to 3,003 sq ft. The development is just a five-minute walk from King Albert Park MRT Station on the Downtown Line and is also near Methodist Girls’ School and the Rail Corridor.
There have been 10 other resale transactions at Maple Woods this year. Based on available caveats, all of them have been profitable deals, with sellers making gains of at least $425,000. Three of the units transacted have netted profits of over $2 million. The first was a 1,787 sq ft, three-bedroom unit on the eighth floor that sold for $3.75 million ($2,099 psf). The seller made a profit of $2.15 million, having purchased the unit in July 1997 for $1.6 million ($895 psf).
The second unit that fetched a significant profit 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 bought the unit in March 2007 for $1.35 million ($756 psf), made a profit of $2.47 million. The third unit was a 3,003 sq ft, four-bedroom unit on the eighth floor that changed hands for $5 million ($1,665 psf) on September 10. The seller had purchased the unit in September 1998 for $2.4 million ($798 psf), making a profit of $2.6 million.
The second most profitable condo resale deal during the week occurred at UE Square, where 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 bought the unit through a sub-sale in December 1997 for $1.3 million ($850 psf). As a result, the seller netted a gain of $1.65 million, after owning the unit for almost 27 years. This deal is the fourth most profitable resale transaction registered at UE Square. The record belongs to a four-bedroom penthouse spanning 3,089 sq ft that sold for $6.27 million ($2,031 psf) on October 6, 2023. The seller, who had bought the unit for $4.1 million ($1,327 psf) in December 2009, made a gain of $2.17 million.
UE Square is part of UE BizHub City, a mixed-use development along Clemenceau Avenue in District 9 near Clarke Quay. The development comprises an 18-storey office building with a four-storey shopping podium and two 18-storey residential blocks housing 345 units. A service road divides the mixed-use development, with the commercial tower separated from the two residential towers.
UE Square comprises 345 residences consisting of one- to five-bedroom units measuring between 506 sq ft to 2,379 sq ft. There are also penthouses measuring 3,089 sq ft. The development is near the Fort Canning MRT Station on the Downtown Line.
When contemplating an investment in a condominium, it is crucial to evaluate its potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly, depending on factors such as location, property condition, and market demand. Prime locations near business districts or educational institutions typically offer higher rental yields due to the strong demand for rental properties. Therefore, conducting thorough market research and seeking the advice of real estate agents can provide valuable information on the rental potential of a particular condo. For further information on Singapore Projects, please visit https://www.nationalathleticcombine.com/.
On the other hand, the most unprofitable condo resale transaction during the week took place at Tomlinson Heights, where a three-bedroom unit measuring 2,745 sq ft on the 19th floor was sold 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). As a result, the seller incurred a loss of about $601,000 (6.8%) after owning the unit for almost 14 years.
Tomlinson Heights is a luxury 70-unit condo off Orchard Boulevard, consisting of a 36-storey tower with a mix of three- and five-bedroom units measuring 2,551 sq ft to 6,738 sq ft. Completed in 2014, the freehold development is within walking distance of malls along the Orchard Road shopping belt. The unit sold on November 19 is the first caveated transaction at Tomlinson Heights since January 5, 2023, when another 2,745 sq ft unit 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), saw a gain of $2.12 million.