GAINS AND LOSSES: Resale unit at Regency Park reaps $4.3 mil profit

By
/ EdgeProp Singapore
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November 1, 2019 8:48 AM SGT
The 3,649 sq ft unit on the 11th floor of Regency Park was bought for $2.68 million ($734 psf) in February 1999 and sold for $6.98 million ($1,913 psf) on Oct 10 (Credit: EdgeProp Singapore)
SINGAPORE (EDGEPROP) - The seller of a unit at Regency Park, on Nathan Road, made the top gain of $4.3 million over the period of Oct 8 to 22. The 3,649 sq ft unit on the 11th floor was bought for $2.68 million ($734 psf) in February 1999 and sold for $6.98 million ($1,913 psf) on Oct 10. The seller therefore made a 160% profit, or an annualised profit of 5% over 21 years.
Located in District 10, Regency Park was completed in 1987 and comprises 292 freehold units. It is a four-minute drive to Orchard MRT Station on the North-South Line.
The second top gain made over the period – a 100% profit of $4.05 million – was at Four Seasons Park, on Cuscaden Walk in District 10. The 2,874 sq ft unit on the 24th floor was purchased for $4.05 million ($1,409 psf) in October 2005 and sold for $8.1 million ($2,818 psf) on Oct 17. This means that the seller made an annualised profit of 5% over 14 years.
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Four Seasons Park comprises 202 freehold units across 28 storeys and was completed in 1994. It is eight minutes by foot to Orchard MRT Station on the North-South Line.
Meanwhile, a unit sold at Park Infinia at Wee Nam, along Lincoln Road in District 11, made the third most profitable transaction over the period, netting a 109% profit of $1.59 million for the seller. The 1,421 sq ft unit on the 27th floor was bought in September 2006 for $1.46 million ($1,025 psf), and sold for $3.05 million ($2,147 psf) on Oct 9. The seller therefore made an annualised profit of 6% over 13 years.
Park Infinia at Wee Nam, completed in 2008, comprises 486 freehold units. It is nine minutes by foot to Newton MRT Station on the Downtown and North-South Lines.
The seller of a unit at 8 Napier sustained a 17% loss of $1.21 million after selling it for $5.8 million ($2,881 psf) on Oct 16 (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
On the other hand, the greatest loss incurred over the period was from the resale of a 2,013 sq ft unit at 8 Napier in District 10. Having sold the property for $5.8 million ($2,881 psf) on Oct 16, the seller sustained a 17% loss of $1.21 million. The unit was purchased in December 2007 for $7 million ($3,480 psf). Over a holding period of 12 years, this translates into an annualised loss of 2%.
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The 46-unit, 8 Napier is a freehold project on Napier Road. Completed in 2010, it is a three-minute walk to the upcoming Napier MRT Station on the Thomson-East Coast Line, slated for completion in 2021.
For price trends, recent transactions, other project info, check out these projects' research page: Regency Park, Four Seasons Park, Park Infinia at Wee Nam, 8 Napier
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