A 3,821 sq ft unit at Four Seasons Park was sold for $10.5 million ($2,748 psf) this year. It represented a gain of $3.7 million or 54% return to the seller, who purchased the property back in May 1995. This translates into an annualised return of 2.1%.
Four Seasons Park is a luxury freehold condominium project along Cuscaden Walk, developed by HPL Limited and completed in 1994. The development comprises three 27-storey towers with a total of 206 units.
In July 2013, a 3,821 sq ft unit was sold at record high price psf of $3,036 or $11.6 million, despite the implementation of Total Debt Servicing Ratio one month earlier. Only two units in the development have been transacted above the $3,000 psf mark.
There were two other transactions earlier this year, which saw two 3,821 sq ft units changing hands at $10.5 million ($2,748 psf) and $9.5 million ($2,486 psf) respectively. Gross rental yield of the project stands at 1.8%.
Transactions at Four Seasons Park this year
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Editor: To real estate agents – if you have concluded an interesting deal recently, we would love to hear from you! Contact us at propertyeditor.sg@bizedge.com