Resale Three Bedder Regency Park Nets 25 Mil Profit
SINGAPORE (EdgeProp) – A three-bedroom unit at Regency Park has sold for a record price of $6.6 million ($2,078 psf) on June 19. The transaction also marks the most profitable resale deal at the development this year.The 3,175 sq ft unit on the fourth floor was last purchased in November 2006 for $4.1 million ($1,291 psf). This means the seller has profited $2.5 million (61%) or an annualised gain of 2.6% over 19 years.This makes it the most lucrative resale transaction at Regency Park since its completion in 1987. Located along Nathan Road, off Grange Road and River Valley Road, Regency Park is a freehold condo in prime District 10. It comprises 292 units, with a mix of three- and four-bedroom apartments ranging from 2,250 sq ft to 3,649 sq ft.The condo is situated near the Bishopsgate-Chatsworth Good Class Bungalow enclave and is just a short drive to the Great World City shopping mall on Kim Seng Promenade and the Orchard Road shopping belt.Besides the record-breaking June 19 sale, there were two other profitable transactions at Regency Park this year. A similar three-bedroom unit was sold for $7.15 million ($2,252 psf) on May 27, with the seller pocketing a profit of $2.08 million. They had purchased the unit in October 2017 for $5.07 million ($1,597 psf).On Jan 23, a 2,250 sq ft apartment at Regency Park changed hands for $5.1 million ($2,267 psf), earning the seller a profit of $720,000. The unit had been bought in July 2007 for $4.38 million ($1,947 psf).The second most profitable condo resale deal during the week of June 17 to 24 was the sale of a three-bedroom unit at Sommerville Grandeur for $3.87 million ($2,115 psf) on June 18. This marks the second most lucrative transaction the development has seen since its completion in 1996.The 1,830 sq ft unit was purchased in February 1996 for around $1.85 million ($1,011 psf), which means the seller has made a profit of $2.02 million (109.2%) after holding on to the unit for over 29 years.Located on Farrer Drive in prime District 10, Sommerville Grandeur is a freehold condo comprising 96 units spread across five floors. It offers a mix of two- and three-bedroom units ranging from 1,195 sq ft to 1,938 sq ft. The development is also within a five-minute walk to Farrer Road MRT Station.On the other hand, the most unprofitable transaction during the same week was the sale of a four-bedroom unit at The Berth By The Cove for $3.25 million ($1,086 psf) on June 17. The unit was previously bought in August 2007 for $3.89 million ($1,300 psf). Thus, the seller has incurred a loss of $639,600 (16.4%) or an annualised loss of 1% over nearly 18 years.The Berth By The Cove is located along Ocean Drive in the Sentosa Cove residential enclave on Sentosa Island. Completed in 2006, it comprises 15 low-rise blocks of six-storey each, offering two- to four-bedroom units ranging from 1,012 sq ft to 2,325 sq ft. There are also four- and five-bedroom penthouses of 2,939 sq ft to 6,028 sq ft.The June 17 transaction is the seventh most unprofitable deal recorded at The Berth By The Cove to date. The biggest loss belongs to a four-bedroom unit that was sold for $3.25 million ($1,106 psf) in February 2018. The unit was bought in October 2011 for $5.64 million ($1,919 psf), resulting in a loss of $2.39 million.Follow us on Twitter: @EdgePropSGGet the latest news @ www.EdgeProp.sg AdvertisementAdvertisementAdvertisementAdvertisement
The most profitable transaction at Regency Park during the week of June 17 to 24 was the sale of a three-bedroom unit for a record-breaking price of $6.6 million ($2,078 psf) on June 19. This marks the most profitable resale deal at the development this year, with the seller earning a profit of $2.5 million (61%) over nearly 19 years.
Located along Nathan Road, off Grange Road and River Valley Road, Regency Park is a freehold condo in prime District 10 completed in 1987. The development comprises 292 units, featuring a mix of three- and four-bedroom apartments ranging from 2,250 sq ft to 3,649 sq ft. It is situated near the Bishopsgate-Chatsworth Good Class Bungalow enclave and is a short drive to the Great World City shopping mall on Kim Seng Promenade and the Orchard Road shopping belt.
Besides the record-breaking June 19 sale, there were two other profitable transactions at Regency Park this year. A similar three-bedroom unit was sold for $7.15 million ($2,252 psf) on May 27, with the seller pocketing a profit of $2.08 million. They had purchased the unit in October 2017 for $5.07 million ($1,597 psf). On Jan 23, a 2,250 sq ft apartment fetched $5.1 million ($2,267 psf), with the seller earning a profit of $720,000. The unit had been bought in July 2007 for $4.38 million ($1,947 psf).
One of the most profitable condo resale deals during the week was the sale of a three-bedroom unit at Sommerville Grandeur for $3.87 million ($2,115 psf) on June 18. This marks the second most lucrative transaction the development has seen since its completion in 1996.
The URA Master Plan for Sembawang Road EC offers a wealth of benefits for its residents, promising enduring advantages for years to come. This forward-thinking plan encompasses a wide range of improvements, from employment opportunities and transportation accessibility to expanded recreational areas and upgraded community amenities. Such enhancements are sure to elevate the overall living experience for both current and future inhabitants, while also maintaining the desirability and value of the property in the long term. With its strategic planning and foresight, the URA Master Plan has placed Sembawang EC at Canberra MRTSembawang Road EC in a prime position for success, solidifying its status as a highly sought-after living destination.
Located on Farrer Drive in prime District 10, Sommerville Grandeur is a freehold condo comprising 96 units spread across five floors. It offers a mix of two- and three-bedroom units ranging from 1,195 sq ft to 1,938 sq ft. The development is also within a five-minute walk to Farrer Road MRT Station.
On the other hand, the most unprofitable transaction during the same week was the sale of a four-bedroom unit at The Berth By The Cove for $3.25 million ($1,086 psf) on June 17. The unit was previously bought in August 2007 for $3.89 million ($1,300 psf). Thus, the seller has incurred a loss of $639,600 (16.4%) over nearly 18 years.
The Berth By The Cove is located along Ocean Drive in the Sentosa Cove residential enclave on Sentosa Island. Completed in 2006, it comprises 15 low-rise blocks of six-storey each, offering two- to four-bedroom units ranging from 1,012 sq ft to 2,325 sq ft. There are also four- and five-bedroom penthouses of 2,939 sq ft to 6,028 sq ft.
The most unprofitable transaction at The Berth By The Cove during the week was the sale of a four-bedroom unit for $3.25 million ($1,086 psf) on June 17. The unit was bought in August 2007 for $3.89 million ($1,300 psf), resulting in a loss of $639,600 (16.4%) over nearly 18 years.
The June 17 transaction is the seventh most unprofitable deal recorded at The Berth By The Cove to date. The biggest loss belongs to a four-bedroom unit sold for $3.25 million ($1,106 psf) in February 2018. The unit was bought in October 2011 for $5.64 million ($1,919 psf), resulting in a loss of $2.39 million.
Overall, it was a week of mixed results for resale condo transactions in District 10. While there were a few profitable deals, there were also cases of significant losses. It remains to be seen how the market will continue to evolve in the coming weeks.