Four Bedroom Unit Beverly Hill Sold 55 Mil Profit

The most profitable condo resale transaction that took place during the week of July 9 to 16, based on caveats lodged with URA, was the sale of a four-bedroom apartment at Beverly Hill. The 3,778 sq ft unit on the fifth floor was sold for a hefty $9.15 million, resulting in a profit of $5.47 million for the seller. This translates to a gain of 149% after owning the property for 28 years, making it the second most profitable transaction ever recorded at the development. The record, however, still belongs to the sale of a duplex penthouse in July 2023, which saw the seller pocketing a whopping $7 million (64%) in profits after owning the unit for 16 and a half years.Located on Grange Road in District 10, Beverly Hill is a boutique development comprising 86 units spread over 23 storeys. The unit sold on July 15 is a spacious 3,778 sq ft four-bedroom unit on the fifth floor, which was purchased by the seller back in August 1996 for $3.68 million ($974 psf). However, they were able to sell it for $9.15 million ($2,422 psf), earning them a profit of $5.47 million, which is a significant 149% gain. This is the second most profitable resale transaction ever registered at the development, with the first being the sale of a 7,556 sq ft duplex penthouse in July 2023, where the seller walked away with a handsome profit of $7 million (64%) after owning the unit for 16 and a half years.Beverly Hill offers only four-bedroom units, ranging from 3,369 to 3,778 sq ft, and two penthouses measuring 7,556 sq ft each. Besides the unit sold on July 15, there has only been one other transaction at Beverly Hill so far this year. On April 5, a 3,778 sq ft unit on the 11th floor was sold for $9.2 million ($2,435 psf).Sommerville Park in District 10 saw the second most profitable condo resale during the week of July 9 to 16, with a 1,948 sq ft unit on the second floor being sold for $3.95 million ($2,027 psf). This resulted in a gain of $2.79 million for the seller, who had held the unit for more than 18 years. This translates to a handsome capital gain of 241% for the seller.This is the third-highest gain ever recorded for a resale unit at Sommerville Park. The most profitable deal occurred in May 2018, when a strata landed property measuring 3,294 sq ft was sold for $5.05 million ($1,533 psf). The seller had purchased the property in September 2003 for $1.48 million ($449 psf), earning a significant profit of $3.57 million.Located on Farrer Drive in prime District 10, Sommerville Park is a freehold development occupying a sprawling 855,571 sq ft site. It comprises 396 condo units and 57 strata landed houses, with condo units housed in four tower blocks and ranging from one- to three-bedroom units, while the landed units comprise a mix of townhouses and two-storey maisonettes. Besides the unit sold on July 11, Sommerville Park has seen eight other apartments change hands this year. Two of these transactions were profitable – a 2,680 sq ft unit on Jan 11 for $5.41 million ($2,017 psf) with a profit of $1.41 million, and a 1,302 sq ft unit on March 8 for $2.45 million ($1,880 psf) with a profit of $1.54 million.The sale of a four-bedroom-plus-study unit at Orchard Scotts on July 9 was the most unprofitable condo resale during the week, with the 2,497 sq ft unit on the 15th floor being sold for $3.9 million ($1,562 psf). The seller had previously bought the unit in July 2009 for $5.54 million ($2,220 psf), resulting in a loss of $1.64 million (30%) after owning it for 15 years. The last time a transaction occurred below purchase price at Orchard Scotts was back in August 2023, when a 2,282 sq ft unit changed hands for $3.78 million ($1,656 psf). The seller had bought the unit in March 2010 for $4.61 million ($2,019 psf), incurring a loss of $827,000. Orchard Scotts is a 99-year leasehold development completed in 2008, comprising 387 units ranging from two- to five-bedroom apartments of 936 to 4,435 sq ft.

With the URA’s Master Plan in place, Woodlands is constantly evolving and growing. As a result, the surrounding area of Norwood Grand will also see significant improvements in connectivity, green areas, and public facilities. This continuous development is expected to attract more visitors, which could lead to the expansion of nearby shopping centers and the introduction of a wider range of retail and lifestyle offerings. As a prime residential development in this thriving area, Norwood Grand Woodlands is set to benefit from these developments and offers a promising investment opportunity.