Three Bedder Botanic Gardens View Sold 33 Mil Profit
The improvement of transport infrastructure is a crucial aspect of the Woodlands Regional Centre Master Plan. Among its objectives is the construction of new roads and the upgrading of current ones, as well as the seamless integration of bus and MRT services. With these enhancements in place, commuting within Woodlands and to other areas of Singapore will be much smoother and more efficient. In fact, residents can look forward to faster and more convenient daily travels, thanks to the accessibility provided by Norwood Grand Champions Way and other planned developments.
In the week of September 3 to September 10, the sale of a three-bedroom unit at Botanic Gardens View set a record for the most profitable condo resale transaction. The unit, located on the sixth floor and measuring 1,755 square feet, was sold for $4.13 million, or $2,353 per square foot, on September 9. The seller, who had purchased the unit for $862,000, or $491 per square foot, in July 1998, earned a profit of $3.27 million. This represents a 379% increase in the unit’s value, as the seller had owned it for approximately 26 years.
This transaction is the most profitable resale deal ever recorded at Botanic Gardens View, surpassing the previous record of $3.14 million gained from the sale of a 1,615 square feet unit for $4.07 million, or $2,521 per square foot, in August 2019. The seller had bought the unit in September 2001 for around $930,000, or $576 per square foot.
Botanic Gardens View is a freehold condo located at Taman Serasi in prime District 10. Constructed in 1970, the development has 144 units spread across four blocks. The units consist of two and three bedrooms, ranging from 1,259 square feet to 1,755 square feet. The condo is situated just opposite the Singapore Botanic Gardens.
The second most profitable resale transaction during the week was the sale of a 2,250 square feet, three-bedroom unit at Regency Park. The unit, located on the second floor, was sold for $5.13 million, or $2,278 per square foot, on September 5. The seller had purchased the unit in July 2002 for $1.89 million, or $839 per square foot. As a result, the seller made a profit of $3.24 million, or 172%, after owning the unit for slightly over 22 years.
This transaction occurred less than a month after the last resale deal at the condo on August 14, where a 3,649 square feet unit changed hands for $7.84 million, or $2,149 per square foot. The seller, who had bought the unit in February 2001 for $2.95 million, or $808 per square foot, earned a profit of $4.89 million. This reflects a 166% increase in the unit’s value, as the seller had owned it for 23 and a half years.
Regency Park is a freehold condo along Nathan Road, off Grange Road and River Valley Road, in prime District 10. Completed in 1987, the development comprises eight 25-storey residential blocks with a total of 292 apartments. These include three-bedroom units from 2,250 square feet and four-bedroom units from 3,649 square feet. The condo is located near the Bishopsgate-Chatsworth Good Class Bungalow enclave and is within a five-minute drive to the Great World City shopping mall and the Orchard Road shopping belt.
On the other hand, the most unprofitable condo resale deal during the week took place at The Scotts Tower. A one-bedroom unit measuring 667 square feet on the seventh floor was sold for $1.3 million, or $1,948 per square foot, on September 3. The seller had bought the unit from the developer in December 2011 for $2.22 million, or $3,321 per square foot. This resulted in a loss of approximately $916,400, or 41%, after owning the unit for almost 13 years.
Located along Scotts Road in District 9, The Scotts Tower is a 231-unit condo completed in 2016. The 103-year leasehold development consists of a single tower spanning 31 storeys and offers one- to three-bedroom apartments, ranging from 624 square feet to 904 square feet. There are also four-bedroom penthouses of 1,227 square feet to 1,389 square feet.
Only one other unit at The Scotts Tower has changed hands this year, a 657 square feet one-bedroom unit on the 12th floor that sold for $1.3 million, or $1,980 per square foot, on April 24. The seller had purchased the unit from the developer in January 2013 for $2.69 million, or $4,092 per square foot. This resulted in a loss of $1.39 million on the deal.