Four-bedder at Le Nouvel Ardmore sold for $3.51 mil profit
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The sale of a four-bedder at ultra-luxury development Le Nouvel Ardmore topped the list of profitable condo resale transactions during the period of March 17 to 22, when a 3,843 sq ft unit on the 10th floor changed hands for $19.5 million ($5,074 psf) on March 19. The seller had previously purchased the apartment in 2021 for $15.99 million ($4,161 psf), thus gaining a profit of $3.51 million (22%), or an annualised profit of 4% over five years.
A four-bedder at Le Nouvel Ardmore was sold for $19.5 million on March 19, with the seller gaining a profit of $3.51 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The transaction also marks the second-highest psf price ever logged at the development. The record belongs to an eighth-floor unit spanning 3,843 sq ft that fetched $22.29 million, or $5,800 psf, in July 2022. The unit that was sold in July 2022 was also the most recent deal at Le Nouvel Ardmore, prior to the March 19 transaction.
Completed in 2014, Le Nouvel Ardmore sits at the junction of Ardmore Park and Anderson Road in prime District 10. The 33-storey freehold condo features 43 units, mostly comprising three- and four-bedroom units of around 3,800 sq ft each, as well as a duplex super penthouse spanning 13,875 sq ft.
The condo is part of a cluster of luxury high-rise residential developments in the Ardmore Park area. It is close to amenities and retail offerings along Orchard Road.
Another condo that recorded one of the top gains during the period in review is Martin Place Residences. A 2,002 sq ft, four-bedroom unit on the 20th floor of the condo was sold for $5.65 million, or $2,822 psf, on March 19. The owner bought the unit in 2009 for $2.68 million ($1,340 psf). Therefore, the owner garnered a profit of $2.97 million (110.6%), or an annualised profit of 4.5% over nearly 17 years.
A 2,002 sq ft, four-bedroom apartment at Martin Place Residences was sold for $5.65 million on March 19, garnering the seller a profit of $2.97 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)
To date, the deal is the most profitable resale transaction at Martin Place Residences. The previous record holder was a four-bedroom unit on the 18th floor, which changed hands for $5.1 million ($2,547 psf) in June 2022, after it was purchased for $2.72 million ($1,359 psf) in 2009. The seller netted a gain of $2.38 million, or an annualised profit of 4.9% over roughly 13 years.
Located in District 9, Martin Place Residences is a freehold condo featuring 302 units across twin 33-storey towers. It has one- to five-bedroom units measuring 592 to 3,434 sq ft. There are four MRT stations within proximity of the development — Great World and Havelock MRT stations on the Thomson-East Coast Line, Somerset MRT Station on the North-South Line, and Fort Canning MRT Station on the Downtown Line. River Valley Primary School and Outram Secondary School are within 1km of the condo.
On the other hand, the most unprofitable resale transaction during the period in review was the sale of a one-bedroom unit at OUE Twin Peaks. The 549 sq ft unit on the ninth floor was sold for $1.05 million ($1,913 psf) on March 20, after previously being purchased for $1.41 million ($2,570 psf) in October 2016. This marks a $360,693 loss (25.6%) for the seller, or an annualised loss of 3.1% over more than nine years.
A 549 sq ft unit at OUE Twin Peaks was sold for $1.05 million ($1,913 psf) on March 20, resulting in a $360,693 loss (Photo: Samuel Isaac Chua/EdgeProp Singapore)
However, this is not the most unprofitable resale transaction at OUE Twin Peaks. Based on data compiled by EdgeProp Research, the record loss occurred in June 2024, when a 1,399 sq ft, three-bedder fetched $3.33 million ($2,380 psf) after it was bought in 2010 for $4.43 million ($3,169 psf). This translated to a loss of $1.1 million, or an annualised loss of 2.1% over almost 14 years.
Sitting along Grange Road, OUE Twin Peaks is a 99-year leasehold condo with 462 units across two 35-storey towers. It offers one- to three-bedroom layouts spanning 549 to 1,895 sq ft, with amenities at the Orchard Road shopping belt nearby. It is also close to three MRT stations: Orchard MRT Interchange on the North-South and Thomson-East Coast lines, Great World MRT Station on the Thomson-East Coast Line and Somerset MRT Station on the North-South Line.
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