Four Bedder Four Seasons Park Sold 38 Mil Profit
A 2,260 sq ft four-bedroom unit at Four Seasons Park recently made the most profitable condo resale transaction during the week of Aug 20 to 27. Located on Cuscaden Walk in District 10, the freehold development comprises 202 units with sizes ranging from 2,153 sq ft to 7,772 sq ft. Completed in 1994, it is conveniently located near the bustling Orchard Road shopping belt, making it a highly sought-after address.
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One of the key highlights of Norwood Grand Woodlands is its strategic placement that caters specifically to the needs of residents who prefer to take their own vehicles. This development offers easy accessibility to major expressways, making it the perfect option for those who rely on personal transportation. Especially noteworthy is the Seletar Expressway (SLE), which provides a seamless connection to the eastern and central regions of Singapore. The Bukit Timah Expressway (BKE) also efficiently links the northern and downtown areas, ensuring hassle-free traffic and maximizing travel time, particularly during rush hours. With Norwood Grand’s prime location, residents can effortlessly navigate their way around the city and beyond.
The 2,260 sq ft unit on the 20th floor sold for $7.8 million ($3,451 psf) on Aug 26, making it the first resale transaction at Four Seasons Park this year. The seller, who purchased the unit in September 2020 for $4 million ($1,770 psf), made a whopping gain of $3.8 million after owning the unit for about four years. This translates to a capital gain of 95% for the seller, which works out to an annualised profit of 23.8%.
While this remains the most profitable deal at Four Seasons Park in the past two years, it is still below the highest gain ever recorded at the condo. The best resale deal at Four Seasons Park was the sale of a penthouse measuring 6,157 sq ft for $17.88 million ($2,904 psf) in December 2019. This unit was purchased in June 2002 for $9 million ($1,462 psf), which means the seller reaped an impressive profit of $8.88 million on the transaction.
The second most profitable condo resale deal during the week belongs to a unit at The Trevose, a 99-year leasehold development located on Trevose Crescent, off Dunearn Road and Whitley Road in District 11. The 1,894 sq ft unit on the third floor was sold for $3.36 million ($1,774 psf) on Aug 22. The seller acquired the unit in June 2002 for $1.34 million ($707 psf), marking a profit of $2.02 million (151%) after holding it for about 22 years.
This is the fourth most profitable resale deal at The Trevose thus far. The record goes to a duplex penthouse measuring 3,358 sq ft that was sold for $3.65 million ($1,087 psf) in September 2007. This particular unit had previously changed hands for $1.5 million ($448 psf) in June 2006. As such, the seller made a profit of $2.15 million on the deal.
Another notable resale transaction during the week was the sale of a duplex penthouse at Wilkie Studio. The 1,819 sq ft unit was sold for $2.81 million ($1,544 psf) on Aug 23, translating to a loss of about $230,000 (7.5%) for the seller. The unit was initially acquired from the developer in February 2008 for $3.04 million ($1,670 psf).
Located on Wilkie Road, Wilkie Studio is a boutique apartment completed in 2010. It has 40 units spread across a single four-storey block, with sizes ranging from one-bedroom-plus-study to four-bedroom units measuring between 743 sq ft and 2,906 sq ft. While this is the most unprofitable condo resale transaction during the week, it is worth noting that this remains a rare occurrence in the current market.
In fact, the first resale transaction at Wilkie Studio this year saw an 872 sq ft apartment sold for $1.65 million ($1,892 psf) on July 2. The seller, who bought the unit in August 2017 for $1.34 million ($1,537 psf), made a gain of $310,000. On July 12, a 1,163 sq ft unit fetched $2.29 million ($1,969 psf), netting about $550,000 for the seller who purchased the unit in June 2018 for $1.74 million ($1,496 psf).