According to the latest property news from EdgeProp Singapore (last updated in July 2019), the most profitable condo resale in the week of July 9 to 16 was for a unit located at Pinewood Gardens. The seller of the unit was able to rake in a sizeable 105% profit of $1.68 million. Learn more about which resales had the most significant gains and losses in the property market during the same week.
Highest profit: Pinewood Gardens in District 10
The condo for sale that raked in the top gain this week was reported to be a 1,959 sq ft unit located on the second floor of Pinewood Gardens. The seller initially purchased the unit in October 2006 for $1.6 million or $817 psf. On July 15 of this week, the seller resold it for almost double the initial price, at $3.28 million or $1,674 psf. This meant that the seller made a 105% profit or an annualized yield of 6% over its holding period of 13 years.
The Pinewood Gardens is a luxury condominium located at the Balmoral Park enclave in prime District 10. The freehold development was completed in 1990 by City Developments Ltd, a multinational real estate firm. It consists of 149 units ranging from 1,249 sq ft to 2,099 sq ft in size. The shopping boulevard of Orchard Road is only a one-minute drive away. Additionally, it’s also near reputable international schools such as Chinese International School, ISS Elementary and Middle School, and Raffles Girls’ School.
Highest profit: Regency Park in District 10
The condo resale that earned the second-highest gain in the same week can be traced to a unit in Regency Park. The unit is a 2,250 sq ft home located on the fourth floor of the development. The seller previously purchased it in November 2006 for $2.78 million or $1,236. However, when it was resold on July 12 of this week, it fetched a higher price of $4.425 million or $1,967 psf. This meant that the seller was able to walk away with a 59% profit yield of $1.65 million. This translated to an annualized profit of 4% over its 13-year holding period.
Regency Park is a 292-unit freehold condominium located on Nathan Road, District 10. The residential project was developed in 1987 by Regency Park Pte Ltd, and it consists of units ranging between 2,250 sq ft to 3,649 sq ft. Like Pinewood Gardens, it’s just a short drive away from the Orchard Road shopping belt. It’s also only a three-minute drive away from Tanglin Mall and only a six-minute drive away from Great World City.
Highest profit: Dakota Residences in District 14
The real estate deal earned third place was for a penthouse unit in Dakota Residences. A 2,605 sq ft unit on the fourth floor of the development made a 60% profit of $1.58 million over the week. The seller initially purchased the four-bedroom unit when it was newly launched in July 2008 for $2.62 million or $1,005 psf. When it was sold on July 12 of this week, the transacted price reached $4.2 million or $1,612 psf. This meant that the annualized profit was 4% over 11 years.
Dakota Residences is a 99-year leasehold condominium located along Dakota Crescent in District 14. Ho Bee Land developed it in 2010, and it consists of 348 units ranging from 1,023 sq ft to 3.714 sq ft.
The condominium faces the Geylang River, allowing residents to view the landed homes located in the prime Goodman Road neighbourhood. Dakota Residences is also only a four-minute stroll away from the Dakota MRT Station on the Circle Line.
Most significant loss incurred: 8 Bassein in District 11
On the other side of the spectrum, the resale of a 2,390 sq ft unit located at 8 Bassein incurred the greatest loss over the week. The seller sustained a 13% profit loss of $388,000 on July 12. The seller previously purchased the unit for $2,938 million, or $1,229 pdf, in May 2012. However, it was resold for a lower price of $2.55 million or $1,067 psf. This translated to an annualized loss of 2% over a seven-year holding period.
8 Bassein is a freehold condominium located at Bassein Road in prime District 11.
Are you looking for a condo for sale or rent in Pinewood Gardens? Get in touch with a property agent now, or contact us for available units for sale or rent.