Resale Three Bedder Sommerville Park Records 274 Million Profit

for district 15Three-bedroom unit at The Tomlinson sold at $2.3 mil profitMarco Polo set to break record for most profitable District 9 resales in 2014Two units at Parc Sophia sold this year with $1.5 mil profitThe sale of a three-bedroom unit at Somerville Park has been recorded as the most profitable condo resale transaction for the week of Sept 16 to Sept 23. The unit, spanning across 2,508 sq ft and located on the third floor, was sold for $4.63 million on Sept 16 at an average price of $1,845 psf. The seller had bought the unit for approximately $1.89 million in May 2006, which translates to a profit of $2.74 million (144.9%). This means after holding the property for over 13 years, the annualised gain was 4.7%.This sale marks the second most profitable resale transaction ever recorded at Somerville Park. The highest profit was seen from the sale of a 1,948 sq ft three-bedroom unit for $3.95 million ($2,027 psf) in July 2024. The seller had purchased the unit for about $1.16 million ($595 psf), resulting in a gain of $2.79 million or an annualised gain of 6.9% after holding the property for over 18 years. The third most profitable transaction at the development was recorded at the sale of a two-storey maisonette for $2.82 million in May 2020.The sale of a 2,669 sq ft four-bedroom unit at Leedon Residence was the second most profitable condo resale transaction during the week, with a sale price of $7.5 million ($2,810 psf) recorded on Sept 17. The unit was last transacted in January 2016 for approximately $4.97 million ($1,862 psf), resulting in a gain of $2.53 million (50.9%). This translated to an annualised gain of 4.3%. So far, there have been eight profitable resale transactions recorded at Leedon Residence, with the highest profit coming from the sale of a 6,125 sq ft triplex penthouse for $12 million ($1,959 psf) in April 2017.The most unprofitable resale transaction recorded during the week was from The Scotts Tower, with a two-bedroom unit changing hands for $1.83 million ($2,099 psf). The unit was last sold in May 2013 for $3.52 million ($4,035 psf), resulting in a loss of $1.69 million (48%) after holding the unit for over 12 years. So far, only three units have been transacted at The Scotts Tower, all resulting in losses. The most expensive unit sold was a 872 sq ft unit going for $1.9 million on May 5 this year, while the least expensive unit transacted at the development was a 850 sq ft one-bedroom unit, which was sold for $1.82 million on Jan 13.

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