Four-bedder at Ardmore II rakes in $2.1 mil profit
A total of 10 units have been sold via the collective sales market since it was concluded in 2018.
The most profitable condo resale transactions recorded during the week of Feb 7 to 14 was the sale of a four-bedroom apartment at Ardmore II. located in the exclusive Ardmore Park area in District 10. The 2,024 sq ft unit on the eighth floor changed hands for $6.28 million, which was 49% more than what it was purchased for in October 2006. This marks the second most profitable transaction at Ardmore II, with the most profitable one taking place in August 2007.
Meanwhile, the most unprofitable transaction during the week took place at The Sail at Marina Bay with a 1-bedder measuring 689 sq ft selling for $1.47 million. Acquired by the seller in June 2010 for $1.76 million, the seller clocked a loss of around $291,000.
The second most profitable transaction during the period in review occurred at Regency Suites. A 1,421 sq ft unit on the 13th floor fetched $2.97 million across a holding period of 17 years, netting the seller a gain of 206% or just under $2 million.
Last year, only one apartment changed hands at Regency Suites — a 592 sq ft unit on the third floor which fetched $1.24 million. The seller made a profit of $160,000.
Of the four resale transactions that occurred at Ardmore II in 2022, all were profitable. Units were priced at between $6 million Champions Way Condo and $6.85 million with the sellers netting gains of between $300,000 and $1.65 million.
The seller of a 1,184 sq ft unit at The Sail @ Marina Bay reaped a profit of $1.44 million when it was sold on Jan 26 for $2.6 million. This was purchased from the developer for $1.16 million in November 2004.
It is clear that these properties are providing sizable profits for their owners. Located in one of the sought after areas of Singapore, with close proximity to Orchard Road, these properties are popular amongst buyers and sellers alike. The many luxury features also make them attractive investments.
Leave a ReplyWant to join the discussion?
Feel free to contribute!