Ardmore Park four-bedroom house sold for $7.05 million gain

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Read this: On May 24, the Sentosa Cove apartment of 1,668 square feet will go up for sale

On May 24, the Sentosa Cove apartment of 1,668 square feet will go up for sale

It was reported that the sale of an condo at the luxurious condo Ardmore Park was the most profitable condo resale deal recorded in the period from May 23-30. The owner for the 4 bedroom 2,885 square foot apartment earned $7.05 million when it was purchased for $12.9 million ($4,472 per sq ft) in May. The apartment was bought by developers developer in exchange for $5.85 million ($2,029 per square foot) on July 26, 1996. Thus, the seller earned 120% profit during a period that spanned nearly 27 years. According to the results of a property title investigation, the purchaser of the unit is Eddy Hartono, an Indonesian who is an Singapore permanently resident.

It is the fourth most profitable resale transaction in Ardmore Park. The most profitable transaction took place in April of 2020, when the owner of an penthouse with 8,740 square feet made a profit of $11.65 million after the property was sold for $27.65 million ($3,163 per sq ft). The seller owned the property since the beginning of January when they bought the property in the amount of $16million ($1,831 per square foot).

The second-highest-profitable transaction at Ardmore Park took place earlier in the year, in April. the apartment of 2,885 square feet cost $13 million ($4,510 per square foot) which resulted in the seller earning the profit that was $8.16 million. The third highest-profitable transaction is the purchase of a 288 sq. ft unit in November last year at $12.5 million ($4,333 per sq ft) which resulted in the seller making $7.75 million profit.

Ardmore Park is 330-unit freehold condominium located in the highly sought-after Ardmore Park area of District 10’s prime area. It was developed through Wharf Estates Singapore, which was previously Wheelock Properties, the high-end condominium was built in 2001. It has three towers of 30 stories. The most common units consist of 2,885 square feet. They are four-bedroom apartments, however it includes six 8,740 square feet of duplex penthouses. The development was the site of a record psf price of $4,881 for a four-bedroom home that was sold at $14.08 million.

Scotts 28 a condominium located along Scotts Road within District 9 witnessed the second highest-profitable transaction over the course of the week. A three-bedroom unit of 1,733 sq feet on the 8th floor was purchased to the buyer for $4.3 million ($2,481 per square foot) on the 26th of May. The seller purchased the property by the developer on November 25, 1995. $2.32 million ($1,341 per sq ft). Therefore, they made an income of $1.98 million, or an investment gain of 85% over 27 1/2 years.

This is the highest-profit sales transaction at Scotts 28 till the date. The previous record for this came in June of 1996 with the sale of a 3,466 sq. ft. apartment at $6.86 million ($1,979 per sq ft) resulted in the seller a $1.96 million in profit. The sale that took place on May 26 also marks an all-time high in the price of psf for the area, beating the previous record of $2433. per square foot recorded in August, with the purchase of a 1,636 square foot apartment at $3.98 million.

The 136-unit freehold Scotts 28 was developed by MCL Land and completed in 1998. It is comprised of two to five-bedders ranging from 1,098 and 4,650 square feet. The condo is located just from Orchard Road next to Goodwood Park Hotel The condo is a short stroll from malls like Far East Plaza, Scotts Square and Tang Plaza. It’s also just 5 minutes from Newton MRT Station (Downtown and North-South Lines).

Additionally, Aalto, a freehold condominium located situated along Meyer Road in District 15’s Marine Parade area, saw the least profitable transaction throughout the week under analysis. A duplex penthouse with 5,608 square feet sold at $13.2 million ($2,354 per square foot) on the 24th of May. It was acquired at the expense of developer developer at $16.28 million ($2,902 per square foot) on March 28, 2008. Therefore, the seller suffered the loss that was $3.08 millions (19%) after holding the unit for more than 15 years.

This is the least profitable deal to date recorded at Aalto. It was the previous record set back in of 2017 when the seller sold an area of 2,443 sq feet at $4.1 million ($1,678 per square foot). The seller took the seller a $1.23 million loss from the deal.

Aalto is a leasehold luxurious condo situated on Meyer Road that was developed by Hong Leong Holdings and completed in the year 2010. It is comprised of two 27-storey buildings and an overall 196 apartments. The majority of units are comprised of three and four-bedroom units that range from 1,442 and 2,443 sq feet. There are two five-bedroom duplex penthouses that measure 6,168 sq square feet and 5,608 sq. respectively, as well as two five-bedroom sub-penthouses of 3,940 sq feet and 4,424 sq. ft respectively.