The sale of a five-bedroom apartment at Pandan Valley was the most profitable resale condo transaction recorded during the week of April 7 to 14. The 6,114 sq ft unit on the 16th floor changed hands for $5.2 million, or $851 psf, on April 10. Previously, the seller bought the unit for $1.1 million, or $180 psf, in March 2004. Thus, the seller netted a $4.1 million profit (372.8%), and an annualised gain of 7.3% over 22 years.
A 6,114 sq ft five-bedder at Pandan Valley was sold for $5.2 million on April 10, garnering a $4.1 million profit for the seller (Photo: Samuel Isaac Chua/EdgeProp Singapore)
This deal marks the most profitable resale transaction at the condo to date. The record belongs to a sale that occurred in April 2024, when a 5,974 sq ft, five-bedroom unit on the 16th floor was sold for $5.4 million, or $904 psf. The seller had purchased the unit in 2000 for $1.73 million. So, the seller garnered a $3.67 million profit, or an annualised gain of 5% over 23½ years.
Based on available caveats, Pandan Valley has recorded six resale transactions so far this year — all of which were profitable — with gains ranging from $660,000 to $4.1 million.
Read also: Four-bedder at Fifth Avenue Condominium nets $3.2 mil profit
Last year, the development saw nine profitable resale deals, with profits ranging from $550,000 to $2.23 million.
Pandan Valley is a freehold condo located along Pandan Valley in Bukit Timah. Completed in 1978, it features 605 residences across six blocks that go up to 16 storeys.
The development offers two- to five-bedroom apartments, measuring 1,173 to 6,867 sq ft. Amenities at Holland Village and Jelita Mall are less than a five-minute drive away.
Another freehold condo, The Paterson, recorded the second-highest gain in the week in review. A 3,283 sq ft, three-bedroom unit on the 20th floor changed hands for $6.5 million ($1,980 psf) on April 7.
The seller bought the apartment for $3.65 million, or $1,112 psf, in October 2005. The profit reaped was $2.85 million (78.1%), working out to an annualised gain of 2.9% over 20½ years.
The seller of a 3,283 sq ft three-bedder at The Paterson made a $2.85 million profit, after the unit was sold for $6.5 million on April 7 (Photo: Google Maps)
This is the most profitable resale transaction at The Paterson to date. It surpasses a 2007 deal, when a 2,250 sq ft, four-bedroom unit was sold for $5.05 million, or $2,245 psf.
Read also: Seller at The Waterside reaps $3.38 mil profit
The unit was purchased for $2.89 million, or $1,286 psf, in 2003. Therefore, the seller netted a $2.16 million profit, and an annualised gain of 13.7% over just four years.
Located along Paterson Road, the 88-unit condo was completed in 2004. It comprises two- to three-bedders alongside penthouses, spanning from approximately 1,216 to 3,283 sq ft. The Orchard MRT Interchange on the Thomson-East Coast and North-South lines is nearby.
At the other end of the spectrum, a unit at V on Shenton was the most unprofitable condo resale transaction during the week in review. A 506 sq ft one-bedroom apartment on the 44th floor of the 54-storey tower was sold for $990,242 ($1,957 psf) on April 10. The unit had been purchased in 2015 for $1.33 million ($2,636 psf), resulting in a loss of $343,574 (25.8%), or an annualised loss of 2.9% over nearly 11 years.
A 506 sq ft one-bedroom apartment on the 44th floor of V on Shenton was sold for $990,242 ($1,957 psf) on April 10 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Located along Shenton Way, the 510-unit V on Shenton forms part of a mixed-use development that also includes the UIC Building office tower. The 99-year leasehold V on Shenton was completed in 2017 and comprises units ranging from studios to four-bedroom penthouses, with sizes from 441 sq ft to 7,255 sq ft.
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