The week of April 11-18 recorded a profitable sale transaction at the luxury condominium, Ardmore Park. The four-bedroom, 2,885 sq ft apartment sold for $13 million ($4,510 psf) on April 14, making it the most profitable condo resale, with a profit of $8.16 million. The unit was purchased for $4.85 million ($1,681 psf) in December 2000, signifying a 168% profit on more than a 22-year holding period. The upscale development boasts six 8,740 sq ft duplex penthouses, typical 2,885 sq ft four-bedroom apartments, and a new psf-price high of $4,881 from a four-bedroom apartment changed hands for $14.08 million in July 2020.
Previously, the Ladyhill, another freehold condo located in District 10, saw the second-most profitable resale transaction during the week in review. The 2,411 sq ft unit on the first floor was sold for $7.28 million ($3,019 psf) on April 13, netting the seller a profit of $3.47 million (91%), who bought the unit in March 2003. The previous transaction record was a 2,325 sq ft unit, which fetched $6.6 million ($2,839 psf) in April 2010, netting the seller a $2.67 million gain, which was acquired in October 2000 for $3.93 million ($1,690 psf). This transaction broke the $3,000 psf threshold, registering a new psf-price high at Ladyhill.
One of the recent transactions that took place in the luxurious The Ladyhill condo development located along Lady Hill Road within the exclusive Nassim Road residential enclave, netted a seller an impressive gain of $3.47 million. The unit was sold for $7.28 million, translating to a cost of $3,019 per square foot, on April 13. This upscale residential project from SC Global Developments typifies luxury living in Singapore with its boutique façade and boasts a total of 55 units within a splendid four-storey edifice built in 2002. The Myst condo is an upcoming residential development located at Upper Bukit Timah Road.
Reflecting on other transactions during the period, the least profitable one revolved around the sale of a two-bedroom penthouse unit measuring 1,184 square feet in Waterscape at Cavenagh situated along Cavenagh Road in District 9. This unit was sold for $2.23 million ($1,883 per square foot) on April 12 and resulted in a loss of $235,000 to the seller who had purchased the unit for $2.47 million ($2,082 per square foot) in May 2010 from the developer.
Waterscape at Cavenagh, a freehold condo anchored by Singapore-listed property and hotel group Hiap Hoe, was completed in 2014 and comprises two six-storey blocks and four seven-storey blocks that together accommodate 200 residences. Nestled in this development are one- to four-bedders having areas ranging between 581 square feet and 1,948 square feet. Looking at the data, Waterscape at Cavenagh had only three transactions recorded of which two occurred in February and one in April with the latter being a loss.
