Gains & Losses
Sale of unit at Park Infinia reaps $1.35 mil profit
The most profitable deal recorded for the week of Sept 3 to 10 was the sale of a four-bedroom unit at Park Infinia at Wee Nam, on Lincoln Road. The seller made a $1.35 million (79%) profit when the 1,464 sq ft unit was sold for $3.05 million ($2,083 psf) on Sept 10, translating to an annualised profit of 5% over 12 years. The unit had been bought for $1.7 million ($1,161 psf) in March 2007.
Located in prime District 11, the 486-unit Park Infinia is a freehold condo that was completed in 2008. The development comprises one- to four-bedroom units of 560 sq ft to 2,002 sq ft, as well as penthouses of 2,702 to 3,315 sq ft.
The most profitable deal at the condo is the sale of a penthouse unit on the 29th floor. The 3,240 sq ft unit was sold for $5.11 million ($1,577 psf) last September, but had been bought for $2.4 million ($741 psf) in August 2005. The seller walked away with a $2.71 million ($112%) profit, or an annualised profit of 6% over 12 years.
The second most profitable deal during the week was the transaction for a three-bedroom unit at Maple Woods, a 697-unit freehold condo on Bukit Timah Road. The 1,335 sq ft unit was sold for $2.08 million ($1,558 psf) on Sept 5. It had been bought for $808,000 ($605 psf) in 2005. The seller made a $1.27 million (157%) profit, or an annualised profit of 7% over 14 years.
Located between King Albert Park MRT Station on the Downtown Line and Methodist Girls’ School, Maple Woods is a 22-yearold development with two- to four-bedroom units of 850 sq ft to 3,046 sq ft. Based on the matching of URA Realis caveats lodged so far this year, all 11 resale transactions at Maple Woods have been profitable and profits have ranged from $225,000 to $1.37 million.
The most profitable transaction at the development so far this year was the sale of a 1,862 sq ft unit on the ground floor which changed hands for $ 2.93 million ($ 1,573 psf) on Aug 21. It had been bought for $1.56 million ($838 psf) in April 2007. The seller earned a profit of $1.37 million (88%), which translates to an annualised profit of 5% over 12 years.
Meanwhile, the most unprofitable transaction during the week occurred at 111 Emerald Hill, a 40-unit boutique development in the Emerald Hill conservation area off Orchard Road in prime District 9. The three-bedroom unit was sold for $3.75 million ($1,768 psf) on Sept 9. It had been bought for $4.29 million ($2,023 psf) in January 2018. The seller made a loss of $540,000 on the transaction, or an annualised loss of 8% over 19 months.
The freehold 111 Emerald Hill was completed in 2011. It comprises three- and four-bedroom units of 1,970 sq ft to 2,411 sq ft, and three four-bedroom penthouses of 3,627 sq ft to 4,478 sq ft.