According to the latest property news from EdgeProp Singapore (last updated in February 2020), a 3,154 sq ft unit at The Balmoral earned a total profit of $1.77 million. This resale is the most profitable transaction recorded from February 11 to 18. Learn more about which real estate deals were the top gain and losses in the same week.
Top gain: The Balmoral in Balmoral Park, District 10
On February 17, a condo for sale located on the first floor of The Balmoral was sold for $4.73 million or $1,500 psf. The seller initially purchased the home in May 2006 for $2.96 million or $938 psf. This meant that they walked away with a 60% profit of $1.77 million, or an annualized profit of 3% over its 14-year holding period.
The Balmoral is a mid-rise luxury condominium located in Balmoral Park, District 10. It was completed by Comtech Development Pte Ltd in 1986 and consisted of 81 freehold units spread across eight-storey residential blocks. There are two types of condo units to choose from—a two-bedroom unit with floor sizes ranging from 2,659 sq ft to 3,132 sq ft and a three-bedroom unit sized at 7,653 sq ft.
The development is just a nine-minute walk away from Stevens MRT Station on the Downtown Line.
Top gain: The Centrepoint, District 9
The deal that earned the second-highest profit this month was traced to the resale of a 1,173 sq ft unit at The Centrepoint. The seller made a 103% profit yield of $1.55 million on February 14. They previously bought the unit for a lower price of $1.5 million or $1,278 psf in July 2007. Thirteen years later, it was sold for double the cost of the property investment, at $3.05 million or $2,600 psf. When translated to annualized profit, this meant the seller had a 6% yield every year over its entire holding period.
The Centrepoint is a 99-year leasehold development along Orchard Road, District 9. It’s a boutique project built in 1983 and consists of only 66 homes spread across a seven-storey building. Units in The Centrepoint range from 750 sq ft to 1,350 sq ft in size. It’s also only a four-minute stroll to the Somerset MRT Station on the North-South Line.
Top gain: Valley Park in River Valley Road, District 9
Another property investment that reaped high profits came from Valley Park. The resale of a 1,356 sq ft unit made the third-largest gain of the week, netting a whopping 133% profit of $1.33 million. The seller initially bought the property for $1 million, or $737 psf, in March 2004. It was later sold on February 17 of this week for a total of $2.33 million or $1,718 psf. This meant that the annualized profit was a 5% yearly gain over its 16-year holding period.
Valley Park is a 999-year leasehold condominium located at Orchard Road in prime District 9. It was developed by River Valley Properties Pte Ltd and completed in 1997. The luxury development houses a total of 728 units across its 20-storey residential buildings. This development consists of homes with sizes ranging from 710 sq ft to 3,907 sq ft. It’s also only within a 13-minute walking distance from the Great World MRT Station.
Top loss: Jardin in Dunearn Road, District 21
On the other hand, this week’s most unprofitable deal took place in Jardin. The seller of a 1,884 sq ft unit suffered an 18% loss of $639,300. The unit was previously purchased for $3.51 million, or $1,863 psf, in December 2007. However, when it was resold on February 12 of this week, it only fetched the price of $2.87 million or $1,524 psf. This meant that the seller incurred a 2% annualized loss over a holding period of 12 years.
Jardin is a freehold residential project developed by YHS Dunearn Pte Ltd and was completed recently in 2013. It consists of 240 condo units spread across 10-storey blocks and is available in floor sizes ranging from 990 sq ft to 1,894 sq ft. Located in Dunearn Road, District 21, it’s six minutes away from the King Albert Park MRT Station on the Downtown Line.
Are you looking for a condo for sale or rent in The Balmoral? Get in touch with a property agent now, or contact us for available units for sale or rent.