The sale of a three-bedroom unit at Maple Woods was the most profitable condo resale deal during the week of July 29 to Aug 5. The 1,539 sq ft unit on the first floor fetched $3.26 million ($2,117 psf) on Aug 4. The seller had purchased the unit in January 1999 for about $1 million ($650 psf). Hence, the seller netted a gain of $2.26 million or a capital gain of 226%. This reflects an annualised profit of about 8.7% over a holding period of almost 27 years.

The deal marks the sixth biggest gain ever recorded on a unit at Maple Woods. The record profit belongs to a 2,551 sq ft, four-bedroom unit that changed hands for $5.45 million ($2,136 psf) on May 2. The seller, who bought the unit in January 2004 for $1.46 million ($572 psf), made a $3.99 million gain (273%), having owned the unit for over 21 years.

Maple Woods is a freehold condo located on Bukit Timah Road in District 21. Built in 1997, it has 697 residences comprising two- to four-bedroom units of 850 sq ft to 3,003 sq ft. It is a five-minute walk from King Albert Park MRT Station on the Downtown Line and is also close to Methodist Girls’ School and the Rail Corridor.

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The second most profitable condo resale deal during the week was the sale of a two-bedroom unit at Valley Park. The 1,356 sq ft unit on the sixth floor fetched $3.04 million ($2,240 psf) on Aug 5. The unit had last changed hands in November 1995 for $1.09 million ($804 psf). This means the seller raked in a gain of $1.95 million (179%), or an annualised profit of 6% over a holding period of nearly 30 years.

Situated on River Valley Road in prime District 10, Valley Park is a 999-year leasehold condo that was completed in 1997. Consisting of five high-rise blocks, the 728-unit development has one- to four-bedroom units of 732 sq ft to 1,808 sq ft. It also has penthouses of 2,562 sq ft to 3,940 sq ft.

Apart from the unit sold on Aug 5, Valley Park has seen six other resale transactions to date this year. Available caveats show that all the deals were profitable. The units, measuring between 1,216 sq ft and 1,356 sq ft, netted profits ranging from $900,000 to $1.64 million.

Nonetheless, the gains fall below the highest profit ever made at Valley Park. In June 2022, a four-bedroom penthouse unit measuring 3,789 sq ft fetched around $7.57 million ($1,998 psf). The seller, who bought the unit in May 2006 for $3.36 million ($886 psf), clocked a profit of $4.21 million.

Meanwhile, the least profitable condo resale deal during the week was the sale of a unit at Reflections at Keppel Bay. A four-bedroom apartment spanning 2,659 sq ft on the seventh floor sold for $4.32 million ($1,625 psf) on Aug 1. The seller had bought the unit in April 2016 for $4.7 million ($1,768 psf). As a result, the seller incurred a loss of $380,000 (8.1%). They had owned the unit for over nine years.

Reflections at Keppel Bay is a 1,129-unit waterfront luxury development in District 4. The 99-year leasehold development has six residential towers of between 24 and 41 storeys and 11 low-rise villa apartment blocks.

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The development has seen 32 units change hands so far this year, based on caveats lodged. Data compiled on EdgeProp Research indicate that 20 of the deals occurred below their respective purchase prices. The biggest loss was from the sale of a 1,733 sq ft, three-bedroom unit for $2.8 million ($1,616 psf) on July 3. The seller, who bought the unit in August 2013 for $4.18 million ($2,412 psf), made a loss of $1.38 million.

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